After hitting more than a one-year high of 133.91, EUR/JPY commenced to decline; however, the channel down pattern started being formed only on September 26 when the 50-hour SMA fell below 200-hour SMA. The currency pair was erratic, fluctuating in a 250-pip wide range. Currently, the Euro is struggling at its 200-hour SMA at 132.93 and may overcome this
A triangle pattern formed by USD/JPY started on June 13 when the U.S. Dollar tumbled to a two-month low against its Japanese counterpart. On September 27, the pair broke through the lower boundary of the triangle thus determining its further movement; a bearish breakout from the triangle pattern usually results in an acute decline of the pair. Technical indicators also
A rather short, only 54 bar long, channel down was formed by EUR/CHF, however, it may a beginning of a new strong downtrend, as after a period of consolidation between 1.243 and 1.226, the pair has finally moved further. Another sign of the movement to the south, is signals, sent by aggregate technical indicators, which are sending either neutral or
NZD/USD is expected to be highly volatile tomorrow, meaning that descending triangle formed on August 30 is moving to its apex. The trading range is just 20 pips, and the closest technical levels from both sides are already pattern's resistance and support, hence in case of any breakout, the pair will be followed by higher or lower prices. However, technical
A 167-bar long rising wedge was formed by EUR/CAD, however, it seems the pattern will be completed soon, as trend lines will converge soon and trading range is narrowing rapidly. Furthermore, trading volumes are decreasing– another signs of the upcoming breakout. Based on signals sent by aggregate technical indicators on three different timeframes, we might conclude the outlook for the
Single currency is losing ground against the British Pound since September 22 when a channel down was formed. The pound has been moving in a strong uptrend during the last several weeks, and even though many analysts see a short retracement in the nearest future, aggregate technical indicators on hourly and 4H charts are suggesting EUR/GBP will continue moving to
GBP/USD has experienced a sharp rally since it dropped to 1.5107 on August 2. Now the pair is trying to consolidate close to 1.6264, a nine-month high; however, the region of 1.6176/212 (four-hour PP, four-hour R1, R2; daily PP) deters the upside movement. The British Pound may succeed in overcoming this region that will send the currency couple to a
A dive to a three-month low on Sep 19 gave the pair impulse for the rally to a three-week high of 6.0488; the currency couple retreated from this level but managed to regain strength to touch 6.0289. The second rally enfeebled USD/NOK and it dropped again thus forming a double-top pattern. Double-top pattern often results in the bearish breakout and
Having touched a five-month high of 0.8767 on August 1, the pair commenced to shape a channel down pattern, reaching a 10-month low of 0.8332 on October 1. It seems that a massive sell-off did not manage to alleviate the downside pressure as EUR/GBP has a potential to continue moving to the south. The proportion of orders placed to sell
EUR/USD has been vacillating between two gradually converging, upward-sloping lines since June 16. The magnitude of fluctuations was large, with pair tumbling to 1.2757 on July 9 and soaring to almost a nine-month high of 1.3589 on October 1. Currently, market players bet on appreciation of the single currency against its U.S. counterpart, buying the pair in 53.61% of
A 124-bar long rising wedge was formed by NZD/USD on September 23. Despite the fact the pair has average percentage of quality and magnitude, it has been relatively volatile during the last hours, and according to the technical indicators on a 4H chart, we would see a period of consolidation in the nearest future. However, 73% of all opened
NZD/CAD currency pair looks highly attractive for traders at the moment as it is approaching the apex of triangle pattern, formed on August 30. Recently bulls have tried to break the upper trend line, however, the price moved back in pattern's boundaries. Nevertheless, in a couple of days both trend lines will converge, and the fact trading volume is constantly
For the past 3 weeks pair has been recovering after a 500 pip sell off in the end of August-beginning of September. It might be that Fibonacci retracements of this move had effects on the pair prior to the formation of the pattern, but seems to have none in the length of the pattern. Pair has already reached the highest
Pair seems to have stabilized after a 1200 pip sell off in the end of August-beginning of September. As it is a major, one direction move, we could not utilize Fibonacci retracements in to our analysis. At the moment is being supported by the weekly PP and trading at the cluster of technical levels (20-bar and 20-day SMAs and daily
After hitting more than a one-year high of 3.3933 on July 10, USD/PLN reversed its trend and was gradually falling until it approached a seven-month low of 3.0630 on Sep 18. The pair bounced off this low to trade near 3.1207 (50-hour SMA, daily PP). The jump seems to have enfeebled the currency pair that is likely to retreated
EUR/CHF has been falling since it touched a one-month high of 1.2415 on Sep 11; however, a formation of the channel down pattern started only on Sep 17. Since then, the pair has been faltering between two steep downward-sloping lines, reaching a four-month low of 1.2215 on Sep 30, the level which acted as a prop and helped the pair
A 173-bar long triple bottom pattern is formed by GBP/CHF on a hourly chart. The pair is bounded between 1.465 and 1.454 since September 19 and during the last 174 bars the pair has been fluctuating in a 100 pips range. Earlier it was a double bottom pattern and on September 27 many traders were expecting a downside breakout, however,
After a long period of indecisiveness it seems XAU/USD cross will soon be rather volatile and a formation of a new trend can be expected. A triangle pattern formed on August 7 is moving to its apex as both trend lines will converge on October 7. Another sign of the upcoming breakout is decreasing volume and which is currently
Pair has been trading around it's 200-day SMA since the February, 2013. Before that we can see a 350 pip rally in the course of a half a year or so. It seem that Fibonacci retracements of this move still have noticeable impact on the pair—38.2% retracement is where the pair tested pattern's resistance for the first time and kept
USD/JPY was faltering between two gradually converging lines during more than three months. After the weekend, the currency couple opened outside the pattern, below the lower boundary, implying that a sharp depreciation is possible. Technical indicators also are hinting at a weakness in the nearest term. The confirmation of this will be a dive under the daily pivot point at
A stab to a three-month low was the starting point of the ascending triangle pattern that sent USD/SGD to a two-week high. At the moment, the pair is vacillating above the pattern's upper-limit close the two-week high. According to the SWFX data, traders sentiment is mixed about the future movement of the pair, being bearish and bullish in 50% of
Having touched a two-month low of 1.3103 on Sep 6, EUR/USD was appreciating until it reached a six-month high of 1.3567 on Sep 19 that triggered a gradual retreat to the lower boundary of the pattern, currently sitting close to the daily support zone at 1.3483. Although market players are bullish on the pair, the probability of a decline remains
Kiwi-loonie cross has been appreciating since the August. We could easily attribute as a recovery after a fall from 0.878, in the middle of April, to 0.795, in the middle of June. Despite such premise, Fibonacci retracements seems to have no impact on the pair anymore, even if it had any in the first place. At the moment it is
A 211-bar long channel up was formed by GBP/USD on a hourly chart on t the second day of August. While to some extend the pair may look overbought already, and some traders would expect a consolidation period, as 70% of all positions are short, aggregate technical indicators are univocally pointing at continuation of the uptrend. However, bulls are