Even though the currency pair managed to lift above the 200-hour SMA at the beginning of November, which generally is a bullish sign, soon afterwards the Australian Dollar started to decline. Since then AUD/JPY has been trading beneath the falling resistance line that now may be considered an upper boundary of the bearish channel, although a lower edge of the
Another rectangle was formed by NZD/CHF on August 27, when the pair soared from 0.711. Since then the pair has been bounded between two parallel trend lines, in a 300 pips range. Though technical indicators are not univocal, the fact that each new high was higher than the previous one, is suggesting bulls would be able to penetrate the resistance
The cable has been highly volatile during the last two days, and mostly led by fundamental data. Hence, on Tuesday, the pair lost 136 pips after disappointing inflation data, while on Wednesday, it rebounded from previous drop, rising 123 pips, on the back of better-than-expected data from the U.K. labour market. Though technical indicators are mixed, in a shorter
The single currency has been gradually declining against the Danish Krone since October 17. The pair formed a channel down pattern and now it trading within its boundaries being trapped by short and long term SMAs. 200-bar SMA is meandering above the pair, acting as a formidable resistance, whereas 50-bar SMA is lying below EUR/DKK, being a strong support. Market
A drop to almost a one-year low on October 22 gave USD/PLN an impulse to climb. The pair took advantage of this upward pressure and commenced a sharp appreciation that has lasted for almost two weeks already. However, a formation of the channel up pattern started later, only on November 5. Now the pattern represents a particular interest as the
Having approached more than a half-year high, AUD/USD has become a subject to a bearish pressure that prevented any upside moves. In the very beginning of November, the pair attempted to recover but after a slight gain the pair started even sharper decline, forming a channel down pattern. At the moment of writing, the currency pair is vacillating close to
USD/CAD started to from a double top pattern on November 7. A day after the pair moved to a two-month high; it neared but did not quite reach it first time but managed to hit this peak during the second escalation. Now the currency couple has entered the bearish phase of the pattern that is likely to take the pair
Just recently EUR/JPY has fully pared the losses made on Nov 7—it took the pair 60 hours. During this recovery the currency pair has been respecting two rising trend-lines that are now the boundaries of the channel up pattern. The upper edge is currently at 133.71 and the lower one is at 133.33.Considering the technical indicators on the hourly and
The Australian Dollar versus its Singapore counterpart has been in the down-trend since the very beginning of Nov 7. However, 28 hours after the beginning of the sell-off the currency pair encountered strong support at 1.1672, leading to the formation of the descending triangle.Eventually, AUD/SGD has broken out of the pattern to the downside, and this event speaks in favour
After weaker-than-expected inflation report from the U.K., the GBP/CAD plunged below the 200-period SMA and hit pattern's support at 1.6644. Taking into account the fact that the Pound is sold in 63% of all cases across the board, and that technical indicators on the 4H chart are sending "sell" signals, a penetration of the support line could be expected.
GBP/JPY currency pair has been trading in double top pattern's boundaries since early August, and it seems that the pair has all chances to form a rectangle pattern, rather than penetrate any of the trend lines. The pair has inched lower on Tuesday, and was trading just 65 pips above the 200-period SMA. In case a dip below this level,
USD/RUB has followed a bullish trend since the end of October when the currency pair formed a channel up pattern that may be breached before long. Several hours ago, the pair jumped above the pattern's resistance and remained above this significant level for two hours; however, the instrument fell off in vigour and tumbled below the pattern's resistance, questioning whether
The U.S. Dollar has been appreciating against the Swedish Krone since October 28; the advance started shortly after the formation of the rising wedge pattern commenced. The pair has touched the pattern's boundaries for five times already that resulted in 100% magnitude. Now the currency pair is faltering slightly below its 50-hour SMA that has been meandering above the pair
USD/CHF started to shape an ascending triangle pattern on November 6; the pattern was 76-bar long at 6 a.m. GMT, November 12. At that moment, the pair was vacillating close to the pattern's support. In fact, USD/CHF has recently attempted to breach this support but it remained below this mark only during three hours. Having bounced off the pattern's support,
Since November 5, GBP/AUD has been trapped by two gradually converging upward sloping lines; the pair was not able to surpass the upper limit nor was it willing to dive below the lower boundary of this rising wedge pattern during last 97 hours. At the moment of writing, the currency couple is approaching a one-month high lying at the pattern's
By connecting the peaks and valleys of the past 200 bars we may draw two rising trend-lines that are likely to prove significant in the future. While the lower line at 1.6625, together with the long-term moving average, is expected to limit the possible losses, the upper line, currently at 1.7070, is supposed to mark the potential points for bearish
Being unable to climb over the resistance at 109.76 the currency couple changed the direction and started moving south. Because of this the 200-period simple moving average, which acted as the line in the sand, has already been overcome, which also adds to the bearish bias towards CHF/JPY.However, for the currency pair to continue trading within the boundaries of the
While before the noon of Nov 7 the currency pair has been completely flat, after the rate cut by the ECB the single European currency to rapidly gain value relative to the Norwegian Krone, even though the reaction was counterintuitive. This surge effortlessly pierced through the 200-hour SMA, but nonetheless was contained by two parallel trend-lines, which formed the channel
After peaking at 1.0050 near the end of October the Australian Dollar started to depreciate, a tendency that in the end has led to penetration of the 200-hour SMA and formation of the bearish channel on an hourly chart.Right now the currency pair is moving en route to the lower edge of the pattern, which is supposed to initiate a
During the last 70 days NZD/CAD has been slightly more inclined to rise than to fall, resulting in the formation of the bullish channel. Considering that the currency pair is near the lower boundary of the figure at the moment and the majority of weekly studies are giving ‘buy' signals, there is a good chance the New Zealand Dollar will
A stab to the highest level since at least 2010 weakened the pair that reversed its trend to the south and started a sharp decline. The decline represents a channel down pattern with 100% magnitude and 60% quality. On November 7, the single currency saw a plunge against most of its counterparts after the ECB decided to cut rates, the
GBP/USD was moving higher between July and October until it hit a half-year high on October 1. While appreciating, the pair commenced a formation of a rectangle pattern that started on August 28, with the upper boundary of the pattern lying at the half-year high hit on October 1 and October 28. At the moment of writing, the pair was
A jump to a two-year high in the end of October was a starting point of a steep channel down pattern. On November 7, the pair dropped to a two-month low amid a slew of positive data from the U.S. as well as the EBC unexpected decision to cut rates. However, this pressure ebbed and the pair recovered some of
A 143-hour long channel down pattern was formed by EUR/JPY in the beginning of October. The pair has been gradually retreating since then, being trapped between two downward-sloping lines. Despite a slight appreciation on November 11, market sentiment remained mixed, with 50.00% of traders being bullish on the instrument and 50.00%-bearish. If the bullish outlook materializes, the next stop will