Being that since August EUR/GBP has been posting lower peaks and lower troughs, we may conclude that the currency pair has been trading in the down-trend. The lower boundary of the emerging bearish channel has been repeatedly confirmed by the market as significant during this time interval. Accordingly, there is a good chance that the price, despite being under considerable
A dive to a one-week low on November 19 was a starting point of a sharp appreciation of the Euro against the Singapore's Dollar that has lasted for 137 hours already. An advance was performed within a narrow range shaped by two gradually converging lines; in other words, the pair formed a rising wedge pattern that pushed a one-month high
A 85-bar long rising wedge pattern was formed by EUR/CHF on November 16. Currently, the pair is vacillating between the pattern's resistance and the 200-hour SMA that acts as a strong support. According to the SWFX data, 59.21% of market participants are bullish on the pair, implying that despite a slight decline after a stab to the pattern's resistance, the
The British Pound has been following a bullish trend versus the Aussie for more than a month. After the pair surpassed its 200-and 50-hour SMAs in mid-November, it expedited its rally and commenced a formation of the channel up pattern that was 149-bar long at the moment of writing. Several hours ago the pair touched a two-year high but retreated
The Euro has been climbing against the New Zealand Dollar since November 7 when the pair hit a five-month low and started to form a channel up pattern that took the currency couple to a one-month high on November 27. Now the pair fluctuates not far away from the pattern's resistance but it is not likely to re-approach this line
A 223-bar long rising wedge is moving to its apex and likely to be completed soon, as the price is testing pattern's support and bears were even able to close below the key level. At the moment of writing, the pair was fluctuating at 6.0799, just couple of pips below the Fibonacci retracement (23.60%). Market sentiment is not clearly market,
After a 2310 pips drop on November 7, the pair has started to recover, and at the moment of writing was trading at 13.143. Despite low trading volumes, the pair is approaching this year's high of 13.366. The upward trend is likely to continue, as technicals are sending "buy" signals, suggesting a move in pattern's resistance's direction can be
Since the mid-June the kiwi has been generally outperforming its Canadian counterpart. During this time NZD/CAD has covered the distance from a low of 0.7951 up to 0.8782. However, the currency pair has been unable to extend the gains beyond the latter level—the highest point since the summer of 2005.Consequently, even though the rectangle pattern usually implies continuation of the
As it turned out, a rebound from the 200-period SMA on Nov 13 developed into a 60-bar long channel up pattern. Accordingly, the parallel rising trend-lines forming it create tough resistance at 1.7244, which is likely to initiate a bearish correction if tested, and support at 1.7005, which should be able to guide the price further north in case the
A decline to almost a two-month low in the beginning of November was a starting point of the ascending triangle pattern formed by the most traded currency pair. At the moment of writing, the EUR/USD seemed to have breached the upper limit of the pattern; the breakout occurred very close to the triangle apex. Despite jumping above the upper boundary
USD/JPY has been trading in a narrow corridor formed by two upward sloping lines for 278 hours and seems to have no intension to breach the pattern's limits in the nearest future. Currently, the pair is struggling at its 50-hour SMA at 101.52, below which USD/JPY dived after hitting a half-year high on November 25. According to the SWFX data,
Examining the channel down pattern formed by AUD/USD for the second time, we may see that the Australian Dollar extended losses versus its U.S. peer, reaching almost a three-month low on November 26; this compares to a five-year peak hit on October 23 when the pair commenced a decline. At the moment of writing, the pattern was 129-bar long
Although the yellow metal has been retreating since the end of October, a formation of the channel down pattern started only in mid-November. Recently, XAU/USD has touched a three-month low of 1,227.27, the level which was low enough to give the pair an impetus for appreciation. Currently, gold is trading slightly above its 50-hour SMA and is expected to extend
After touching a low of 1.6561 on November 7, EUR/SGD began its rally, and 313 hours later is trading at 1.6959. The upward movement was steep and rapid, however, aggregate indicators on a hourly chart are still suggesting further appreciation. As an alternative scenario, we can see a pullback to 1.6890, as both market sentiment and pending orders, are strongly
Since September EUR/PLN has been relatively calm, fluctuating around 200-hour SMA. However, after forming a triangle pattern on November 7, movements were very remarkable. Just in 57 hours the pair soared more than 700 pips. Since that time we have not seen spikes of volatility, however, the fact bulls penetrated pattern's upper trend line, is suggesting EUR/PLN represents great
Generally we would assume that the Sterling is poised for a rally given the current conditions. The rectangle is deemed to be a continuation pattern, and, before entering consolidation between 1.6258 and 1.5874, the pair has been on the rise for three months since the beginning of July.On the other hand, there is a strong argument against the development of
Following a protracted period of consolidation beneath 10.50 that dragged on for the whole summer and a half of September, USD/ZAR seems to have finally commenced a robust recovery.However, in order to confirm its bullish intentions, the currency pair will first need to find support at the lower boundary of the emerging channel up, namely at 9.9082. Then it will
Despite being once described, the channel down pattern formed by EUR/USD is worth examining one more time as the pair is attempting to breach the pattern's resistance at the moment. EUR/USD penetrated this formidable resistance several hours ago but failed to consolidate above this level and retreated slightly. The breakout that may appear before long is further complicated by disposition
EUR/NZD has been trading in a 490-pips wide corridor for almost three weeks; the corridor represents a 266-bar long channel up pattern that started on November 7. According to the SWFX data, 60.00% of market players are bullish on the pair that adds to signs that the currency couple is likely to continue its winning streak thus prolonging the pattern.
Since November 15, USD/SGD has been locked in the narrowing corridor represented by two gradually converging lines. Currently, the pair is a subject to a heavy selling pressure that started to push the pair down after USD/SGD hit a one-month high a day ago. Despite succumbing to the downside pressure, the pair is enjoying a strong support lying at the
Although the British Pound followed a bullish trend against the U.S. Dollar shortly after it touched a two-month low in mid-November, a formation of the channel up pattern started only on November 20. At the moment of writing, the currency couple vacillated close to the pattern's support at 1.6149 but traders were not expecting a breakout, being bullish in 57.96%
CHF/JPY is renewing historic high, which is currently located at 112.15, around 60 pips above the current market price. Actually, the pair is moving is an uptrend for more than a year, and even though it might seems that a period of consolidation is required, technical indicators are suggesting further appreciation. Despite strong bullish outlook, bears managed to penetrate
Though GBP/CHF is not trading in boundaries of a triangle pattern anymore, the pair is still representing great opportunities for traders. At the moment of writing the pair was hovering at 1.4749, just 33 points above the apex point. Despite the fact the price almost touched pattern's boundaries once again, the outlook remains strongly bullish. Aggregate indicators on a 1H
After bottoming out at 86.41 in August AUD/JPY has finally been able to commence a robust recovery. And, following the sharp gains made in September, the rally became more paced, being limited by two up-trend lines.Right now the currency pair is at the lower line, which is highly unlikely to let the Australian Dollar depreciate below 92.48. Instead it is