Triple top pattern formed by AUD/CHF has been lasting for 113 hours and is likely to enter it's the bearish part in the hours to come as the pair has already started to retreat after it reached the level close to its three-month high for the third time. However, the SWFX data belies the bearish outlook, indicating that 80% of
Having surpassed its 200- and 50-hour SMAs, NZD/USD was gradually appreciating until it reached a five-month high on October 17. A stab to this high provoked a retreat of the pair that touched a level of 0.8448 (down-trend resistance) and then recovered to the level slightly below the previous high thus shaping a typical double top pattern. Although double top
Dukascopy Aggregate Technical Indicator for 30 min and 1H time frame charts for major pairs for the last 144 periods till 15:00 GMT.
After opening with a 30 pips gap on Monday, October 13, AUD/SGD has formed a channel up. Since then the pair has been moving to the north and according to aggregate technical indicators, the trend will persist in the near– and medium– term outlook. Hence, bulls may face strong resistance around 1.1961– Fibonacci retracement and a weekly resistance, while next
Kiwi– Swiss Franc cross has formed a channel up pattern on October 3 and it seems the pair will continue channelling in the foreseeable future. Last time bears made an attempt to penetrate the support line was on October 10, however, the price soared higher and since then the price was mostly traded in the upper part of channel. Furthermore,
Comment: Pair has just recently consolidated above the 200-day SMA. Short term technicals are pointing at further appreciation of the pair but the pair seems to be stalling. It might be that 30th of September high has some psychological effects on the pair and could cause a sell off of the pair signalled by the medium term technicals. However, as
Pair has been in a clear uptrend since the end of August. Prior to that we saw a one and a half week long fall of a 300 pips, but the pair is already up by more than 650 pips since then. The pair has recently bounced from the pattern's support and at the moment and as medium term technicals
After finding a strong support at the 200-period SMA 100 hours ago AUD/SGD was able to commence a recovery that still persists. The price action during this time interval suggests that at the moment the currency pair is highly unlikely to breach the support at 1.1913 where it is currently trading. This area is formed by the daily pivot point
On the whole EUR/TRY is currently undergoing a bearish correction, since the up-move started back in April failed to overcome the resistance at 2.7741. And while the near-term technical indicators favour a rally, there is a good chance the supply zone at 2.7015, created by the daily R1 and the down-trend resistance line, will not allow the Euro to appreciate.
Being unable to rally beyond the 200-hour SMA for a prolonged period of time, EUR/PLN has been consistently trading between two falling trend-lines and frequently respecting them. These lines currently create a strong resistance and a strong support at 4.1790 and 4.1528 respectively.As for the technical indicators, at the moment they are giving weak ‘sell' signals on the hourly and
AUD/CAD has been in an up-trend since Aug 28, when it touched a low of 0.9331. However, for now we would rather focus on the last 200 bars which participated in the formation of the bullish channel on an hourly chart.At the moment the currency pair is in the upper part of the corridor near the bullish resistance line at
Pair has been in a clear downtrend since the first days of October. The pattern at hand could be extended back to 9th of October, but due to the gap between close and open prices during the last weekend the more compact version was chosen for the analysis. Quite a few individual technical indicators give neutral outlook suggesting that the
Pair is posing for a 160 pip trail lower. This is the main presumption behind the Double Top patterns—pair fails to reach new (relative) high and slowly trails to the pre-pattern levels. It seems that Fibonacci retracements of 10th to 15th of October rally had a significant impact on the pair (38.2% retracement is where the pattern's support is), but
The pair has formed a short descending triangle pattern on October 14, which is likely to be completed soon. Both trend lines will converge on Friday, hence there would be only a couple of candles before the breakout, which can occur in any direction. However, statistics shows that in 64% of cases the pair performs a downside breakout. This idea
During the last two trading sessions USD/CAD has lost more than 80 pips and amid concerns the recently-reached budget deal is just a short-term solution, weaker United States Dollar can be expected. Even though indicators on 4H, daily and weekly charts are neutral, technicals on a shorter time frames are sending "sell" signals. The pair is bounded between two Fibonacci
The New Zealand Dollar has been gaining value against the loonie since the end of August and during the most recent 100 bars, specifically after the currency pair re-tested the 200-hour SMA, NZD/CAD has been consistently rising while being contained by two parallel bullish trend-lines. Right now the price is trading at the lower edge of the formation, which is
If we connect the peaks and valleys that emerged on the hourly chart of EUR/JPY within the last 230 bars we would eventually draw a rising wedge. Still, the apex of the figure is rather far away and a change in the trend should not be immediate. Nonetheless, we should be wary of the resistance at 134.09 and especially of
Being that the Denmark Krona is pegged to the single European currency, EUR/DKK is not a volatile pair. Nevertheless, looking at the last 150 bars there is a persisting pattern, namely depreciation of the base currency relative to the quote currency. This pattern implies there is a strong resistance area at 7.4600/7.4595 (apart from the down-trend line there is also
In the second part of September EUR/SEK hit a rock bottom at 8.5493, where the currency pair commenced a robust recovery. While the rally was developing, the price respected trend-lines that later on formed a bullish channel, the lower boundary of which EUR/SEK is currently testing.While the past price action suggests the support at 8.7751 should initiate an up-leg, also
Aussie-kiwi cross seems to be trailing lower after it gained 180 pips from 2nd to 10th of October. At the moment it is testing 20-bar and 20-day SMA. We expect a drastic sell off from this level. Such turn of events is indicated by the short term technicals as well. Medium and long term technicals give a rather clear neutral
Pair has been appreciating since the beginning of July. Five months prior to that it was trading in an almost 700 pip range between 1.345 and 1.275. At the moment it is moving towards the pattern's support. Although we see bullish periods, it seems that some bears are just capitalizing on their gains and, as suggested by the short term
CAD/JPY has formed a channel pattern on October 8 and even despite a false breakout last Friday, the pair is still moving in pattern's boundaries. On Tuesday the price shot to the north and it seems a correction is needed. This idea is supported by aggregate technical indicators on 4H and daily charts, meaning that a retest of the support
During the last two weeks the U.S. Dollar has been loosing ground versus major peers, including the Turkish Lira. The pair has even formed a channel down pattern, which is likely to be in place in the foreseeable future. The pair is currently fluctuating around pattern's resistance, however, the upside breakout is unlikely to happen, as indicators on hourly and
Just as AUD/SGD we mentioned yesterday, AUD/JPY too has been lately fluctuating within two rising trend-lines, though with the lower one being slightly more positively sloped than the upper one. Therefore we may claim that the currency pair has formed a rising wedge pattern, which implies a heightening chance of a change in direction the closer the pair moves towards