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
A 133-hour long channel down pattern shaped by USD/CHF started on November 24. Being a subject to noticeable downside pressure, the pair has recently dived to more than a one-month low of 0.9021. However, the decline to this low may have been a positive factor for the pair, as market players expect the currency couple to gain momentum in the
A sharp advance performed by the single currency against the Australian Dollar has been observable for the last 374 hours. The pair formed a channel up pattern that helped EUR/AUD to surge to a three-month high on December 3. Currently, the currency couple is attempting to penetrate the daily resistance at 1.4999 that if overcome will push the next cluster
After a sharp retreat from more than a one-year high, EUR/HKD changed direction to the north. The advance was performed within the corridor shaped by two upward sloping and gradually converging lines, in other words, within a rising wedge pattern. At the moment of writing, EUR/HKD traded close to its daily pivot point at 10.5258 but it may follow a
Since the very beginning of November, the Swiss Franc has been rallying against the Japanese Yen; however, the formation of the rising wedge pattern started only on November 25. While trading within the pattern boundaries the pair expedited its advance and peaked at the highest level since at least 2008. At the moment of writing, the currency couple was
The cable has been moving in a strong uptrend since early July, and just recently the pair has reached 1.6443– the highest level since August 2008. Since July the pair has soared more than 1600 pips, and while some may consider it as overbought and may call for a pause, technical indicators on variety of timeframes are sending "buy" signals,
EUR/PLN is likely to be highly volatile in the nearest future, not later than December 6 to be more precise, as the pair is bounded between two sloping trend lines that will converge on Friday. The trading range is narrowing rapidly and at the moment of writing the pair was fluctuating in a 99 pips range, compared with 716
Although AUD/NZD has been trading in a pronounced down-trend already since Oct 27, it started to do so in a more orderly manner (respecting two negatively-sloping parallel trend-lines) just recently, specifically during the formation of the last 60 candles. Right now the currency pair is approaching the lower boundary of the corridor at 1.1060, meaning there is an increased possibility
Due to a strong support area near 1.2345 the currency pair was able to commence a robust recovery at the end of October, which later on turned into a bullish channel. Considering that the exchange rate is currently fluctuating at the upper boundary of the pattern, the near-term risks are heavily skewed to the downside. Once the dip is initiated,