EUR/SGD confirmed its bullish intentions on Nov 22, when it breached the 200-period SMA to the upside. Soon afterwards the channel up (already more than 100 bars long) was initiated.Considering that a majority of the technical indicators on the most relevant time-frames are giving ‘buy' signals and the spot price is right at the lower rising trend-line, which creates formidable
After little and at some intervals even no activity between May and October this currency pair managed to commence a robust recovery that already amounts to 14 figures. Given that both the lower trend-line and the 200-period SMA stay intact, the bullish momentum is not exhausted yet and may push the price even higher. While being underpinned by the strong
After plunging by more than 100 pips for less than one day time, the downside pressure abated and the Euro managed to rebound against the British Pound. The recovery was developed within the boundaries of the rising wedge pattern started on December 17. Now EUR/GBP is trading below the lower limit of the pattern, albeit slightly, that may signify the
A sharp November's appreciation came to an end when the pair touched a three-year high on December 18 that became a start of the opposite trend; the currency pair commenced a sell-off, being trapped by two downward sloping lines. Despite the fact the pattern is relatively short, only 69-bar long, it has already erased some of the recent EUR/CAD gains,
Although EUR/PLN lacked a clear direction during several months, it managed to halt its sideways move in early December; the pair commenced a downside trend that led to a formation of the 108-bar long channel down pattern in mid-December. Being bounded by the pattern's trend-lines, the pair has been a subject to a heavy selling pressure that pushed EUR/PLN to
The Canadian Dollar has been tilted to upside versus the Japanese Yen since mid-October; however, the most significant jump was performed only in mid-December when the pair started to form a rising wedge pattern that took it to almost a seven-month high. At the moment of writing, the currency couple was faltering not far away from this high and was
After peaking at 5.609 on November 7, the pair has began a movement to the south. There has been an attempt to break the resistance line at 5.4746, however, bulls were not strong enough. The outlook for the pair is bearish, as technical indicators are sending ‘sell' signals, suggesting the latest rally is running out of steam. At the moment
The Australian Dollar has been depreciating against the Loonie since October 28 and in the middle of November the pair has formed a channel down pattern after hitting a 200-period SMA. While current market sentiment speaks in favour of pair's appreciation (64.51%), other indicators are pointing a movement to the south in the nearest future. Hence, aggregate technical indicators
USD/CAD has been in a strong up-trend since October, rising from 1.02 up to 1.07. During this period the currency pair has formed a bullish channel, the lower trend-line of which the rate is currently testing. Consequently, there is an increased chance of a rebound from 1.0599 and subsequent development of a rally up to 1.0777.Even if the price falls
The rising wedge pattern on the four-hour chart of USD/ZAR remains topical, especially considering that the latest rebound from the lower up-trend support line seems to have failed to extend to the upper boundary of the figure. Accordingly, the chance of a break-out to the downside is now particularly elevated, regardless of the 4H technical indicators that are mostly bullish
A year ago the currency pair breached the 200-day SMA to the upside and commenced a recovery that still remains intact. However, during this time the pace of Euro's appreciation has notably slowed down, leading to formation of a rising wedge, a pattern that implies an increased possibility of a reversal.Still, before EUR/SGD attempts to test the lower boundary of
Since mid-October, USD/JPY has been following the uptrend, forming a rising wedge pattern on November 19. Almost ten hours ago, the pair breached the pattern's resistance and touched the highest level since at least 2009 that made us believe that the sharp rally may lie ahead; however, these expectations did not come true as the pair changed direction shortly after
After hitting a several-year high in mid-October, the New Zealand Dollar started to retreat versus its U.S. counterpart; however, the pair embarked on formation of the channel down pattern only in the very end of October. Now the pair is trading below its 50- and 200-bar SMAs that recently have created a ‘death' cross thus putting additional selling pressure of
A dive to an eight-month low in mid-December incited an accelerating climb of the single currency against the Swiss Franc that led to a formation of the channel up pattern. The pair has vacillated in the corridor for 80 hours and may remain bounded by two upward sloping lines in the foreseeable future as even a moderate bearishness on the
Since early December, USD/CAD has performed a noticeable advance that now represents a part of the 75-bar long double top pattern. Currently, the pair is moving towards its 200-hour SMA that is lying below the pattern's support that was breached several hours earlier. The 200-hour SMA is acting as the last defence from a sharp depreciation of the pair that
Although at first it may have seemed that the sell-off initiated on Dec 13 was simply a retracement of the up-move started at the beginning of the current month, the decline appears to have developed into an independent down-trend, considering that the 200-hour SMA has already been violated.Right now, being that the exchange rate is fluctuating just beneath the upper
The descending triangle appeared on the 1H chart of CHF/SGD due to a bearish correction of the one-month rally started in mid-November. Accordingly, the risks were skewed to the upside, which was confirmed by a recent breach of the down-trend resistance line. However, we should be wary of a possibility that the bullish momentum may have already been exhausted—the market
A jump above a three-year high was the last bullish move EUR/SGD performed within the limits of the 330-bar long rising wedge pattern as after that the pair fell sharply and broke through the pattern's support. Although the pair attempted to come back to the pattern's area several hours later, it failed to succeed thus solidifying the view that the
The second part of November and the first weeks of December were marked as a period of an accelerating advance of the common currency against the Canadian Dollar. After the climb, the pair slightly retreated but then re-gained strength to rally again; in other words, the pair formed a double top pattern. Now the pair is unremittingly moving towards the
Having been a subject to a notable buying pressure since mid-October, the Hong Kong Dollar has been gaining ground versus the Japanese Yen and in the first week of November the pair embarked on a formation of the channel up pattern. Despite trading at record high levels, the pair seems to have no intension to halt the rally; now it
A drop to a one-month low in the very end of October provoked an appreciation of the U.S. Dollar against the Norwegian Krone; this climb has become a part of the 195-bar long double top pattern formed by the pair. Recently, the currency couple has belied expectations of a breach of the pattern's support, remaining above this significant level after
Since the beginning of November the Australian Dollar has been inclined to lose value relative to the Singapore Dollar. As a result, the currency pair has formed a channel down, meaning the bearish tendency is likely to be preserved for the foreseeable future.Just recently, however, the price has run into the lower boundary of the downward-sloping corridor, indicating there is
Starting from Nov 8 the currency pair has been in a distinct down-trend and has covered nearly four figures since then. However, the support at 0.8851 managed to withstand two attempts of USD/CHF to extend the decline, meaning there is a double bottom on the chart.Considering that the key resistance (neck-line) at 0.8918 implied by the pattern has already been
The Canadian Dollar has been rallying against the Japanese Yen since early November; a climb was performed within the limits of the rising wedge pattern that is 164-bar long now. While fluctuating between two gradually converging lines, the pair managed to attain a five-month high twice; the most recent stab to this peak led to a retreat to the 50-bar