Although USD/CHF has been trading in a pronounced down-trend since the beginning of last year's July, the support area circa 0.8850 managed to negate the bearish momentum and initiate a recovery. However, the rally encountered a resistance level at 0.9120, which denied every attempt of the currency pair to advance further north.Accordingly, even though the four-hour and daily technical indicators
For the past 500 trading days USD/ZAR has been forming a channel up pattern and is therefore set to continue to advance further in the long term.However, considering that the currency pair is currently approaching the upper boundary of the upward-sloping corridor at 11.1329, which is reinforced by the weekly R2 and the monthly R3, the near-term risks are heavily
The U.S. Dollar embarked on appreciation against its Canadian counterpart since the very beginning of the year. Examining the trajectory of the advance, we may draw two lines that would link the peaks and troughs of the pair, to put it in another way, the pair shaped a rising wedge pattern. At the moment of writing, the currency couple was
A rise to a nine-month high of 99.23 in the last day of 2013 provoked a sharp retreat of the Canadian Dollar versus the Japanese Yen; the plunge has been developing within the limits of the channel down pattern that trapped the pair 325-hour ago. Last Monday the pair dived to a two-month low that alleviated the downside pressure thus helping
The common currency has been rallying against the Polish Zloty for 110 hours; the rally took place in the area bounded by two gradually converging, upward sloping lines. Recently, the currency couple rebounded to 4.1749, the level at which the decline that led to a formation of the rising wedge pattern started in early January. At the moment, the currency couple
Boundaries of the 345-bar long triangle pattern have been restricting the moves of EUR/CHF since late December. Nevertheless, the pair managed to reach a four-month high in early January. Now the pair is vacillating close to the pattern's support but is likely to recover losses since almost 60% of traders are bullish on the currency pair. If the traders' outlook comes
CAD/JPY has formed a 85-bar long channel down pattern, which is likely to be in place for the foreseeable future. During Thursday and Friday bulls made several attempts to penetrate the upper trend line, however, they were not strong enough and the pair is still moving in pattern's boundaries. Moreover, technical indicators on a daily chart are sending "sell" signals,
Due to a strong support zone near 0.88 USD/CHF managed to commence a robust recovery on Dec 27. As a result, the currency pair has covered as many as 330 pips.Nonetheless, there are already several signs that the bullish momentum is weakening and is about to come to an end. The main indicator is the rising wedge pattern that the
After a rally seen in the first half of November U.S. Dollar stumbled upon the formidable resistance at 6.2191, which has been denying every attempt of USD/NOK to rally since then. However, judging by the bullishness of the technical indicators and by the fact that the currency pair entered the pattern while being in a strong up-trend, the attacks that
The most traded currency pair unremittingly strives to recover losses after a plunge from a two-year high of 1.3895 in late December. The rise has been performed within a channel up pattern that has been helping the pair not to fall below its lower limit but at the same time has been blocking jumps above its upper boundary. At the
Since Christmas USD/NOK has been trapped by two upward sloping lines that have locked the pair in a wide range of more than a thousand pips. The pair has been vacillating in the corridor for more than 364 hours already and is likely to remain within the boundaries of the channel up pattern in the foreseeable future since market players
The double top pattern shaped by USD/CHF has almost ideal trajectory and is more than 310-bar long. The first peak, the highest one, is lying at six-week high of 0.9128, while the second one is slightly lower at 0.9109. At the moment of writing, the pair was retreating after a jump to the second peak and was likely to reach
Having reached more than a five-year high of 174.95 in the first trading session of 2014, the British Pound reversed its trend and commenced a long losing streak against the Japanese Yen. Whilst retreating, the pair formed a channel down pattern that at the moment of writing was 195-bar long. Now the currency pair is sitting below its 50-hour SMA, albeit
USD/TRY cross is one of the most attractive pairs for traders right now. The pair has breached pattern's resistance, and after rising almost 150 pips, pulled back to pattern's support. This move is called a throwback, and it represents the great entering point for long traders. Moreover, technical indicators on a hourly and 4H are sending "buy" signals, supporting the
CHF/JPY will be highly volatile soon, as both trend lines will converge on Friday, January 17. At the moment of writing the pair was changing hands at 115.18, level represented by pattern's support and 200-hour SMA. It is unlikely that this level will be breached, and the pair is expected to bounce back and head towards pattern's upper boundary. This
There is a bullish channel emerging on the hourly chart of EUR/NZD. However, even though it looks as if the currency pair turned around after hitting a strong support level currently represented by the daily S2 level, right now the price is facing the 200-hour SMA, which may not let the rally to develop any further, as was the case
CAD/CHF long since has been trading in a down-trend, namely since August of 2012. However, we would rather focus on the last 300 four-hour candles that form a bearish channel. Accordingly, it is likely that the Canadian Dollar will continue to move lower in the long-term perspective.Still, we should be wary of the probable upward corrections that are to be
After a rally in very beginning of January, the British Pound lost its spree and started to depreciate versus the New Zealand Dollar. The drop has been developing within the channel down pattern that originated at a two-year high of 2.0315. Currently the pair is vacillating between its 200- and 50-hour SMAs, with its short-term SMAs acting as a strong support
The beginning of 2014 was marked as a time of large swigs performed by the British currency against the greenback after trading almost flat for more than a month. The trajectory of these fluctuations represents the descending triangle pattern that now is 203-bar long. At the moment, the trading range of GBP/USD is narrowing, meaning that the pair is approaching the
USD/TRY formed an ascending triangle pattern, the upper boundary of which lies at the highest mark since at least 2009 thus representing a formidable resistance for the pair. At the moment, the currency pair is trading close to the apex in a narrow range, only 70-pips wide, hence we may witness the breakout before long. Given that ascending triangle is
The peaks of the double top pattern formed by EUR/CAD are sitting near a five-year high, adding to chances that a sharp appreciation started in mid-December will soon come to an end as the pair may appear not strong enough to sustain this rally. However, the single currency is not rushing to lose ground versus the Canadian Dollar; the currency
The Pound is poised to become one of the main gainers this year, however, the GBP/AUD currency pair has formed a 172-hour long channel down pattern. Since the beginning of this year the Sterling was steadily depreciating against the Aussie. The pattern requires one more confirmation point to become a reliable one, and therefore, the price is supposed to reach
A 91-bar long channel up was formed by NZD/USD on January 9, however, the pattern can be completed soon as the pair is testing pattern's lower boundary. While technical are speaking in favour of pair's depreciation only on a hourly chart, other tools of technical analysis are pointing at U.S. Dollar's appreciation. Moreover, fundamental news can also easily push the
GBP/JPY has recently topped out and is now undergoing a bearish correction that has developed into a bearish channel. Being that at the moment the currency pair is trading near the upper boundary of the downward-sloping corridor, the Sterling is likely to underperform and fall beneath the 200-period SMA at 170.20 and then move en route to the lower down-trend