EUR/JPY was trading sideways during eight months ended November 6 when the pair commenced an appreciation that allowed the EUR/JPY to shape a narrow channel up pattern. At the moment of writing, the currency pair was faltering close to the upper limit of the pattern and may breach this resistance given that 68.25% of market players are bullish on the
A 284-bar long rising wedge pattern shaped by EUR/DKK was started on November 18. Being trapped by two gradually converging lines, the currency pair was unable to perform large fluctuations and was vacillating near its short- and long-term SMAs. Currently, the pair is trading above both SMAs, albeit slightly; the 50-hour SMA is sticking to the pattern's support and coupled
Between mid-November and the very beginning of December, USD/PLN was trading almost flat, fluctuating near its 50- and 200-hour SMAs. The beginning of December brought changes to the pair's trajectory; in particular, the pair dived below its 200-hour SMA and commenced a decline. The drop was developing inside the channel down pattern-a corridor formed by two downward sloping lines. At
The British Pound has been advancing for more than 200 hours; the climb was performed within the boundaries of a channel up pattern. Recently, the pair has attained a five-year high at 1.7551; a stab to this peak provoked a sharp decline to the pattern's support line, close to which GBP/CAD is trading now. However, a further downside is unlikely
Following an attempt of the currency pair to pierce through 6.7080 on Nov 13 USD/SEK entered a downward-sloping channel and still preserves the bearish momentum.Considering that the currency pair is right at the upper down-trend resistance line, the current rally is expected to be stopped and turned around by 6.5354 (this supply area is strengthened by the daily R1 and
Being unable to sustain a recovery beyond the 200-hour SMA, EUR/CHF commenced a down-trend that persists until now. At the moment the price is probing the lower boundary of the corridor at 1.2236, this support is also reinforced by the daily S2 level. Accordingly, there is a high probability that the currency pair will start a bullish correction, which is
While being contained by the 200-hour SMA from above AUD/USD has formed a bearish channel during the last 80 bars. However, due to the latest news on the U.S. labour market and the associated volatility the currency pair appears to have exited the pattern—it is currently testing the long-term moving average, even though the four-hour and daily technical indicators are
After a deep bearish correction the currency pair experienced in the first half of September USD/TRY managed to revive the up-trend near 1.9364. However, since Sep 19 the trading range has been narrowing, meaning there is a rising wedge pattern being formed on the four-hour chart, which in turn implies an increasing possibility of a strong sell-off, once the lower
Having touched a 10-week high in the very beginning of December, the Canadian Dollar commenced a decline versus the Japanese Yen. The pair was mostly bearish during almost 85 hours but now it seems to have regained strength as CAD/JPY has recently breached the pattern's resistance and surpassed its 50-hour SMA; this move may be signs of a breakout.
EUR/NZD shaped a wide channel up pattern that started in mid-November and now is 355-bar long. While being locked between two parallel upward sloping lines, the pair managed to attain almost a three-month high that provoked a sharp decline to the pattern's support; at the moment, the pair struggles to recover losses but it still trades not far away from
A rise to a one-week high on November 28 marked the beginning of a sharp retreat performed by EUR/SEK. The pair formed a channel down pattern that now is 113-bar long but it is not likely to be prolonged in future given a breach of the upper limit of the pattern four hours ago. If the pair continues to follow
The U.S. Dollar has been appreciating against its Singapore's peer since October 23 when the pair reached a five-month low and started to form a channel up pattern. At the moment of writing, the currency couple was vacillating below its 50-hour SMA, albeit slightly. Market players believe the pair is capable to surpass its 50-hour SMA, below which it dived
A test of the support at 3.0184 on Oct 22 entailed a robust rally of the U.S. Dollar, which topped out only after forming 90 candles at 3.1538. Subsequently, the pair has been trading between the horizontal support line at 3.0822, which is reinforced by the 200-period SMA, and the declining resistance line, thereby making a strong case for emergence
AUD/CAD has been in a down-trend since the last days of October, being unable to advance beyond 1.0050. More recently, during the last 100 bars, the currency pair formed a bearish channel. Taking into account that the price has just bounced off the upper edge of the pattern at 0.9734, there is a high possibility that the Aussie will move
The greenback has been losing ground against the Polish Zloty since November 19, and the downside trend is likely to persist until 10. On this date the upper and lower trend lines of a descending triangle pattern will converge, meaning the pair can added to its losses, or rocket higher, and start the rally. Just recently bears made an
Since December 5 morning the EUR/USD has been highly volatile, penetrating strong resistance at 1.3618. However, the pair pulled back and is not trading in boundaries of a rectangle and ascending triangle patterns' boundaries. Both patterns are likely to be completed soon, as the majority of aggregate technical indicators is sending "buy" signals, and a recent throwback is just another
USD/ZAR has been trapped by two upward sloping lines that represent boundaries of the wide rising wedge pattern that at the moment of writing was 294-bar long. The currency couple has recently re-approached the highest level in three months, an escalation to which enfeebled the pair and provoked a slight retreat to the current trading level. According to the SWFX
A stab to a one-month low in mid-November incited an advance of the U.S. Dollar versus the Turkish Lira that led to a formation of the rising wedge pattern on November 28. After fluctuating within the pattern boundaries during almost 90 hours, the pair breached the lower limit that is an indication that the breakout may have occurred. However, a
EUR/USD has been vacillating within the ascending triangle pattern formed in mid-November. The pair attempted to breach the pattern's trend lines for two times; however, the attempts did not prove to be successful. At the moment of writing, the most traded currency pair was faltering not far away from the triangle apex, suggesting that the breakout is looming. Market players
Since November 25, the U.S. Dollar has been enjoying a solid support coming from upbeat data releases from the domestic economy. Strong fundamentals allowed the U.S. Dollar to appreciate against the Norwegian Krone and to form a channel up pattern that now is 145-bar long and is likely to be prolonged given a moderately bullish sentiment in the market; 55.56%
Due to the recent strength of the greenback, NZD/USD breached a crucial level at 0.8194 on December 4. During the day the pair already tried to inch back into pattern's boundaries, however, after touching the support line once again, the pair lost almost 30 pips and hit 200-hour SMA once again. Meanwhile, 65% of opened positions are short, and
The most traded currency couple have been moving in a solid uptrend since November 7; however, despite the fact the pattern is 422 bars long, the pair has managed to appreciate only by 249 pips since then. Moreover, further appreciation is unlikely, as bears managed to break the support line and a 200-hour SMA in one hour, after stronger-than-expected data
The bullish channel currently being formed on the four-hour chart is a part of the rally that began to develop on Nov 7. Right now the rate is moving away from the lower edge of the formation at 1.3825, which was also reinforced by the weekly pivot point.The bullish move is expected to pierce through the nearest resistance at 1.3941
After experiencing a precipitous decline on Nov 20 the currency pair bottomed out at 1.4020 and returned back to the rising resistance line that may be drawn through the peaks staged since the beginning of November. Now this up-trend forms the upper boundary of the bullish channel—it creates strong resistance at 1.4534.In the meantime, EUR/CAD has also been respecting the