The loonie has been steadily depreciating against the Swiss Franc since the beginning of this year. The steepest decline was registered last week on Wednesday, when after touching pattern's resistance, the pair lost more than 270 pips. Currently, traders are opening short and long positions in almost equal proportions. And it seems the pair will not be able to
A 194-bar long channel up was formed by GBP/NZD on January 14 and so far the pair has been perfectly moving in pattern's boundaries. On Tuesday the pair was strongly bearish, following a report from the ONS that showed U.K. GDP data, the pair moved closer to the lower boundary, and, according to technical indicators, it will be able to
Although a week ago it seemed that GBP/AUD is going to breach the 200-period SMA, in the end the support managed to withstand the attack and rekindle demand for the Sterling. Right now the currency pair is testing the lower edge of the channel at 1.8761, which is likely to prevent any additional losses brought by the bearish retracement and
Although in October of 2013 the 200-period SMA proved to be a reliable support and helped a bullish correction, eventually it gave in to the currency pair's general downward trend. Since then AUD/SGD has been fluctuating between two falling lines, thereby forming a bearish channel. Accordingly, the bias towards the Aussie is negative, especially considering that the price has recently
A 336-bar long channel down pattern formed by AUD/CHF was started in the second part of October. The pair once attempted to breach the lower limit of the pattern but bearish pressure appeared to be not strong enough to allow the breakout to happen. Now the currency pair is trading near the resistance at 0.7875 (daily R1) that is not
A sharp rally performed by EUR/CAD is likely to remain restricted by the limits of the tunnel within which the pair has been vacillating since January 6. At the moment of writing, the currency couple was retreating from a four-year high of 1.5270; however, a slump may be halted in the foreseeable future given that 71.43% of traders are bullish
Since early July the British Pound has been trading mostly higher against the U.S. Dollar; however, the distinct upside trend appeared only in early January when the currency pair expedited its advance. The upswing has been developing within the 53-bar long channel up pattern that took the pair to more than a three-year high of 1.6659 on January 24. Despite
The trading range of AUD/USD has been bounded by two gradually converging and downward sloping lines for more than 270 hours. Recently, the currency couple has attained a five-year low of 0.8662 that provoked a rally and helped the pair to reach the upper-limit of the pattern. At the moment, AUD/USD is struggling at its 200-hour SMA that prevents the
EUR/GBP pair will soon become highly attractive for traders. Following last Thursday's rally, the pair pulled back from pattern's resistance and at the moment of writing was trading at 0.8250, just 9 pips above the support line. Despite the fact market sentiment is slightly bearish, and keeping in mind a recent throwback, the pair is likely to depreciate. However, technical
Kiwi is poised to become one of this year top performers, however, even they cannot appreciate forever. Hence, after forming a rising wedge pattern on November 29 the pair is approaching pattern's lower boundary, suggesting bears are ready to push the pair lower. Everything now is speaking in favour of a downside breakout, with technical indicators being either neutral or
Since the beginning of last year's November the single European currency has been generally outperforming the Aussie, leading to emergence of the upward-sloping channel on the four-hour chart. Right now EUR/AUD is moving away from the demand area around 1.5376, which is mainly created by the long-term moving average and the up-trend support line. Judging by the technical indicators, the
After bottoming out at 1.3462 CHF/SGD was able to start a robust recovery that is still intact and, according to the majority of the technical indicators, should be preserved. During the up-move the currency pair has been consistently oscillating between two parallel trend-lines. However, while the lower boundary of the channel up seems to be quite reliable due to a
As AUD/CAD proved to be unable to push through the parity in October, the currency pair started to trade in a down-trend instead, and it becomes more and more apparent with each new candlestick. And even though the bearish pattern consists of only 100 bars, thereby notably decreasing its quality, both falling lines have already been respected by the market
An evident downside trend started in the very end of October when AUD/NZD hit almost a two-month high of 1.1581. Throughout the decline the pair formed several bearish patterns and one of them, channel down is progressing at the moment. Recently, the pair has sagged to more than a five-year low of 1.0495. It managed to recover from
Having approached a five-year high of 145.70 in the very end of 2013, EUR/JPY changed direction and followed a pronounced down-trend that eventually caught the pair into zone restricted by two downward sloping and gradually converging lines. Recently, the currency pair has attempted to breach the pattern's lower limit and, indeed, it succeeded but a slump to almost a two-month low
A decline to a two-month low of 1.9460 in mid-January marked the beginning of the rising wedge pattern, vacillating within which the pair managed not only to recover losses some of the previous losses but also to climb to a three-week high at 2.0216 on January 24. Now the pair is siting above the 50-hour SMA that started to act
Although the New Zealand Dollar has been appreciating versus its Canadian peer since early January, the pair embarked on formation of the channel up pattern only on January 10 when the currency couple noticeably sped up its advance. At the moment of writing, the corridor was 216-bar long and 244-pips wide thus leaving enough room to manoeuvre. Meanwhile, NZD/CAD was
The current situation in the market predisposes USD/SEK to extend the down-trend we have been observing for the past two weeks, following a failure of the rally to rise beyond the December highs at 6.62. Moreover, the long-term moving average is presently above the spot price, hardening the case that the bias towards the U.S. Dollar is bearish. Nevertheless, we
After topping out at 1.2050 at the end of October, the Australian Dollar has been generally underperforming the Singapore Dollar, thereby forming a bearish channel on the four-hour chart. More recently, AUD/SGD encountered the down-trend resistance line, which forced the currency pair to commence developing yet another bearish leg. The remaining supports until 1.0867, from where we are likely to
As in USD/ZAR, a significant role in the developing rally of CHF/SGD has played the long-term moving average, for the last 200 hours, by not letting the rate fall far beneath it. However, the bullish momentum may soon subside, given that daily studies are mostly bearish. Moreover, the currency pair is close to breaching the lower edge of the upward
While being well-supported by the 200-hour SMA, USD/ZAR continues to move forward. Just recently the currency pair has bounced off the up-trend support line at 10.7960, and it is currently approaching the upper boundary of the channel at 11.1499, beyond which the U.S. Dollar is likely to advance only after a bearish correction, though the resistance represented by the daily
After touching 145.69 right before the New Year, the single currency began loosing some of its value against the Japanese Yen. Since January 16 the pair has been trading in boundaries of a triangle pattern, which looks similarly to an ascending triangle. On Thursday the pair inched below pattern's support, however, stronger-than-expected factory data from Europe pushed the pair
The cable received a strong bullish impetus from the U.K. labour market data and on the back of positive news the pair soared above key level of 1.66. Despite a sideways movement during the last couple of hours, the pair has a great potential to penetrate pattern's resistance at 1.6625, as aggregate technical indicators on a hourly and 4H charts
Development of the bullish channel by HKD/JPY is somewhat reminiscent of the up-trend observed in GBP/AUD. The lengths of the patterns and price behaviours are very similar. Nevertheless, while the Sterling is in the upper part of the trading range implied by the upward-sloping corridor, HKD/JPY is currently testing the lower trend-line, which is reinforced by the weekly PP and