On Sep 27 EUR/TRY topped out at 2.7618 and since then has been in a down-trend, falling through the 200-hour SMA and reaching 2.6714. During this sell-off the currency pair has been respecting the trend-lines that may be drawn through the peaks charted on Oct 3 and Oct 14 and through the troughs charted on Oct 2 and Oct 10.At
For more than 300 hours already the common currency has been consistently gaining value relative to the Swiss Franc, covering 140 pips. However, we would rather focus on the last 150 bars, which form the channel up and thus give us a better understanding of the most likely reversal points.Respectively, in case the exchange rate falls, the support line at
Following a breach of the moving average for 200 hours NZD/USD has been rising in an orderly manner, namely respecting two parallel trend-lines. Accordingly, the currency pair has formed a bullish channel on an hourly chart with the upper boundary at 0.8440, which is reinforced by the daily R2, and with the lower boundary at 0.8375, which in turn is
USD/SGD has formed several patterns during the last couple of months, including a triangle, descending triangle as well as double bottom, which is moving to its apex. Until U.S. politicians cannot agree on budget, the greenback will continue losing ground versus other currencies. Furthermore, technical indicators on a 4H chart are suggesting weakness of U.S. Dollar as well. Couple of
Gold has been depreciating against the greenback since October 4, when the pair inched up from 1,305, reached 61.80% Fibonacci retracement and began channelling down. The pair is currently trading around 1,272, more than 600 pips above the pattern's resistance line. Meanwhile, almost 70% of traders are holding long positions, while indicators on a hourly chart are sending "buy" signals.
Pair has been recovering after a month long, 5000 pip sell off Since the first week of October. It has recovered approximately 50% of losses that occurred. As the mentioned sell off wasn't a one direction, smooth move all the way we could not employ Fibonacci retracements in our analysis. Pair ahs been slowing down lately and, though the medium
Pair is posing for a 3000 pip sell off. It is the main presumption behind the Double Top patterns—pair fails to reach new high and gradually return to the prepattern levels. To be fair we have to admit that pair has been showing some bullishness, but we would like to pin it on the 20-day SMA. We are more worried
The bullish trend-lines that are currently the sides of the rising wedge have been in force since the end of September, when the currency pair started to move north after a prolonged period of directionless fluctuations.At the moment AUD/SGD is probing the upper edge of the pattern at 1.1863, a resistance that apart from the up-trend consists of the daily
Following an encounter with 93.32 CAD/JPY has been in a strong up-trend, piercing through various resistances, including the 200-hour SMA that now acts as the support. As a result, the currency pair has formed an upward-sloping channel.Lately, however, the accelerated pace of loony's appreciation relative to the Japanese Yen has notably slowed down, which has led to a test of
Not so long ago USD/CHF found strong support at 0.8968 which helped the currency pair to commence a recovery. However, the U.S. Dollar has recently run into the resistance level at 0.9136 that is not letting the appreciation to carry on.Meanwhile, every unsuccessful attempt of the price to surge has led to a dip which in turn was stopped by
USD/ZAR has been in a down-trend for more than 150 hours already, gradually descending from a high of 10.1699. During this period the currency pair has been consistently respecting two parallel trend-lines that now form the boundaries of the bearish channel with the resistance at 9.9535 (strengthened by the 200-hour SMA) and the support at 9.8453.However, the technical indicators on
Prior to the formation of the pattern pair was range bound between 8.55 and 8.72 for slightly more than two weeks. It is worth pointing out that the pair ahs been trading in the 8.50 and 8.89 boundaries since the end of April. Taking in to account the aggregate readings of the medium and long term technicals it might be
Pairh as been in a clear downtrend since the first week September, but seems to have stabilized after a 850 dip in the course of 4 hours slightly prior to the formation of the pattern. After the recent bounce from the pattern's resistance it is approaching September low at 3.0636 (not included in the table in order to await confusion).
USD/SGD currency pair has formed a descending triangle pattern on the August 12 and it seems the pattern is moving to its apex as both trend lines will converge on October 18– a day after a possible U.S. default. Despite the result of budget talks in the White House the pair can be highly volatile. Recently, bulls made an attempt
After a relatively flat opening on Monday, the pair surged almost 30 pips, however later, moved back to 0.9091– slightly above the lower trend line. According to aggregate technical indicators, the pair is likely to stay around current level in the nearest future, and only in the long term the penetration of support line is expected. While 73% of all
Pair has been narrowing it's trading range since the end of January, when it reached 2013 high at 7.4642. Prior to that we can see a 7 month long, 340 pip rally. Despite that, effect of the Fibonacci retracements, if there was one, is negligible at the moment. Pair has been trading in a 60 pip range for the past
EUR/PLN peaked at 4.2409 on the last day of September and since then has been on the decline, giving up nearly five figures throughout the last 200 hours. During this period the currency pair has penetrated the 200-hour SMA and formed a down-trend channel, thereby confirming its long-term bearish intentions.In the short run the single European currency also has a
On the whole EUR/GBP is currently recovering after bottoming out at 0.8333, but is doing so at a more gradual pace than at the very beginning of the rally—between the two parallel upward-sloping trend-lines. Even though these boundaries of the bullish pattern have not yet been confirmed on many occasion, we believe the market is still likely to respect them
For the past 460 hours trading range of AUD/USD has been narrowing, since the currency pair has been respecting the rising trend-line below the spot and the falling trend-line above the spot. Accordingly, the price has formed a symmetrical triangle on an hourly chart, with the resistance at 0.9473 and the formidable support area at 0.9414, which in turn is
After peaking at 1.1442 more than 100 bars ago the currency pair started to decline and eventually has breached the long-term moving average for 200 periods. Being that AUD/NZD's recent bearish behaviour has been contained by the two parallel trend-lines, there is a good chance the Australian Dollar will continue to depreciate relative to the kiwi.Moreover, the hourly and four-hour
Pair has been depreciating since the end of August. If not due to the 7000 pip rally on the 18th of September it is very likely we would have much longer pattern to work with. There was a 2 month rally before the mentioned depreciation of the pair, but once again Fibonacci retracements does not seem to have any impact
The pair has been in a clear uptrend since the 1st of August, but has been slowing down since the 2nd of October. The pairs trading range has narrowed from 340 pips then to 110 pips in the recent days. Despite this distinctive move prior to the pattern's beginning Fibonacci retracements does not seem to have any impact on the
Despite a recent rally in greenback's value, AUD/USD still remains in double top pattern's boundaries, even though the price almost reached pattern's resistance line. Based on aggregate technical indicators, the pair is likely to hover around same level for some time, however, later the continuation of the uptrend is expected, as indicators on a weekly chart are sending "buy" signals.
The highly overvalued Australian Dollar is a huge concern for the RBA. Nevertheless, the currency continues appreciating against major peers, including the Loonie. The AUD/CAD currency pair has been moving in a channel up since August 16. After touching 0.957 on September 30, the pair rallied to 0.985 and according to technical indicators on three different timeframes, we are likely