Despite the regular intermissions between the trading sessions, USD/RUB has managed to form a high-quality rising wedge pattern, meaning the currency pair is on the verge of a sharp decline in the nearest future. Another argument in favour of the strong sell-off from here is current rate's proximity to the highs seen early September.Accordingly, we should not expect a rebound
USD/SEK has been volatile recently; however, unusually large swings performed by the pair did not prevented it from determining its direction in the very beginning of the month. Having reached a three-week high, the pair started to move lower that entailed a sharp decline developed within the corridor of two downward sloping lines. Currently, the pair is rebounding after it
A 342-bar long channel up pattern shaped by USD/CHF originated at a three-year low of 0.8800 hit in mid-December. Since then, buying pressure has been bolstering the pair and has recently pushed it to the upper-boundary of the pattern that is lying at almost a three-month high of 0.9127. At the moment of writing, the pair was erasing losses it
A decline to a two-month low of 91.06 in mid-December mollified downside pressure and helped the Australian Dollar to regain strength against the Japanese Yen. Having hit this low, the pair started to shape a rectangle pattern that now is about 100-bar long. AUD/JPY is likely to advance in the foreseeable future as 76.92% of market participants are bullish on
The British Pound commenced a decline against the U.S. Dollar on January 10 when the pair reached a one-week high. The drop has been developing within the limits of the channel down pattern that despite being relatively short, only 51-bar long, promises to remain in place in the foreseeable future given that more than 52% of traders expect the pair
After a rapid advancement in the second part of December USD/TRY encountered a strong resistance level at 2.1961, which still continues to cap the currency pair. At the same time every recent attempt of the dip to extend was successfully prevented by 2.1594, meaning that the currency pair is currently trading in a rectangle pattern.Given the bullish behaviour of the
Although early in the morning the bullish channel was still intact and four-hour technical indicators were giving 'buy' signals, EUR/GBP violated the lower boundary of the figure and fell beneath the daily pivot point at 0.8325.Now the price is moving en route to the formidable support at 0.83, where the daily S1 merges with the 200-hour SMA. Here the sell-off
USD/PLN has formed a channel up pattern on a hourly and 4H charts. At the moment of writing the pair was testing a strong support at 3.0382 and in case bears will be able to push the price lower, it will be a beginning of a strong downward movement. Traders, however, expected the pair to bounce back, as almost 74%
After crossing 92.923 on December 23, AUD/JPY entered a period of consolidation and since than has been moving sideways. There have been four touching points, however, neither of sides was able to push the pair above or below the trend line. As soon as the breakout occurs the pair can be highly profitable for traders, as both quality and magnitude
The most popular precious metal is attempting to rebound after severe losses in the last trading sessions of 2013. After a dive below the psychologically important level of $1,200 per ounce in the New Year's Eve the yellow metal changed direction and on January 8 XAU/USD embarked on formation of the channel up pattern. The corridor now is still
The distinct downside trend was started by AUD/NZD in late October and helped the pair to form a double bottom pattern in last days of November. Whilst following the pattern trend-lines, the pair touched the lowest level since at least 2009 for two times but each time it managed to recover, albeit slightly. Currently, the currency couple is moving down, confronting
A fall to the lowest level since 2011 in the end of December provoked a rise of the U.S. Dollar versus the Polish Zloty; the rise has been developing within the tunnel of two upward sloping lines, in other words, the pair shaped a channel up pattern. At the moment of writing, the currency pair was vacillating close to the
Since early January the common currency has been appreciating against the Danish Krone; however a formation of the channel up pattern started only on January 7 when the pair managed to consolidate above its 50-hour SMA that since then has been stuck to the lower limit of the pattern. Now the pair is approaching the pattern's support as it was forced
The SNB can relax– the EUR/CHF currency pair is moving further away from the 1.20 cap and has formed a channel up pattern, which is already 276 bars long. In a longer term the pair is still expected to appreciate, taking into account "buy" signals from technical indicators on a daily chart. In the nearest future, however, pair's performance can
The Dollar has been steadily appreciating against the Norwegian Krone since late October, however, the pair is facing a strong resistance at 6.2210 and bulls were not able to push the price above it. Moreover, Friday's labour report from the United States pushed the price below the 200-period SMA, and according to aggregate technical indicators on a 4H chart the
Although USD/SGD has already breached the rising wedge to the downside, the formation has not yet realised its full bearish potential—the price has only reached its first target.Accordingly, after a short reprieve the sell-off is likely to resume, pushing the exchange rate through the 200-period SMA down to 1.2485, where lies the origin of the pattern. For this to happen
While in the long-term perspective it could be argued that GBP/USD is forming a rising wedge pattern (especially on the daily chart), as discussed today in the morning, it looks as if the currency pair has been trading between two parallel trend-lines since last year's December.In order to confirm its bullish intentions the Sterling will have to bounce off the
Judging by EUR/SEK's behaviour over the past year, it becomes evident that the currency pair has been trading in a rising wedge pattern. Since mid-January of 2013 the trading range of the exchange rate has been narrowing, while the Euro was appreciating relative to the Swedish Krona. EUR is therefore inclined to fall precipitously once the up-trend support gives in.
The British Pound performed a sharp appreciation against the Canadian currency in early January; however, the advance was paused several hours earlier when the pair touched a five-year high of 1.8032 that lies on the upper boundary of the 104-bar long channel up pattern. In the hours to come GBP/CAD is likely to restart its climb as 68.25% of traders
A drop to a two-month low in the very end of December was a starting point of the channel up pattern formed by EUR/SEK on the one-hour chart. The pair has been trading within this corridor for about 165-hours already but it still did not manage to erase all losses it faced before it followed the upside trend. Now the
The Euro has been losing ground against the Polish Zloty since mid-November when the pair embarked on a formation of the channel down pattern that took the currency couple to a seven-month low of 4.1319 in the second part of December. At the moment the pair is on the downside that followed a rebound from the recent low and may
Having reached a five-year high of 1.6607, the national currency of the UK plunged against its U.S. peer and even broke through the lower limit of the rising wedge pattern that restricted the pair's moves during more than two months. However, it may be too early to talk about the breakout since the currency couple managed to use its
HKD/JPY currency pair has rocketed on October 25 and since then has been moving to the north only and has already moved more than 10,000 pips higher. On Friday there has been an attempt to penetrate the support line, however, bears were not strong enough and the has bounced back to 13.480. At the time being, aggregate technical indicators on
The Euro– Norwegian Krone cross has been moving sideways since late December, and it seems that the tendency will persist for some time before the pair will be able to push above or below any of the trend lines. Nonetheless, a move below the 200-period SMA seems probable, as aggregate technical indicators are either neutral or sending "sell" signals, while