The single currency has been moving around 1.67 level against the Kiwi since October 30. At the moment of writing the pair was changing hands at the level, which is just slightly below the 200-period SMA, at 1.6473. Traders do not expect the common currency to recover against the Kiwi in the nearest future, as the Euro is sold in
AUD/NZD has been moving to the south since March and during this period of time the pair lost more than 2000 pips, making it highly attractive for traders. The short-term outlook is bullish, as 4H technical are sending "buy" signals, while 73% of traders are holding long positions on the pair. It seems that after moving back to pattern's resistance
This year the Canadian Dollar has been losing value relative to the Japanese Yen, which has eventually led to formation of the descending triangle, being that CAD/JPY remains unable to penetrate the support at 92, which is reinforced by the daily S1 level. However, given that most of the four-hour and daily technical indicators are bearish right now, the break-out
Once the buying pressure that appeared near the 200-period SMA at the beginning of this year settled down, NZD/CAD started to trade within the boundaries of the bullish channel. However, the trend-lines forming it are still unreliable and need more confirmations in order to become accurate estimators of the potential reversal points.Right now the New Zealand Dollar is moving away
A drop to a two-year low of 0.8168 in mid-January helped the Euro to recover some losses against the British Pound. The rise has been developing within the area restricted by limits of the 140-bar long channel up pattern. Now is a good time to make some profits from the pair's moves given that a bearish correction is highly likely. The
Since early January the movements of AUD/SGD were bounded by two downward sloping lines that locked the pair in a 212-pips wide range. Surprisingly, while fluctuating within the limits of the wedge, the pair has not shown any willingness to break the chains created by the pattern. Having reached a five-year low of 1.095 in mid-January, the pair has been moving
After starting a triangle pattern, GBP/USD has become more volatile and while performing one of its large swings, it even managed to hit a two-year high of 1.6666. However, the pair is not likely to re-approach this peak given a graduate constriction of the trading range. At the moment the GBP/USD represents a lucrative opportunity for traders as it has almost
Recently, EUR/SEK has attempted to break though the upper limit of the 181-bar long descending triangle pattern that was started in mid-January. However, the pair failed to consolidate above the 200-hour SMA and came back to the triangle area. Now the currency couple is swinging between small gains and losses. Proximity of the apex suggests that a real breakout is
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