Euro-loonie cross seems to be consolidating after a 19th to 23rd of August rally. Although they are just partially beneficial we have incorporated Fibonacci retracements of this move in to our analysis. Pair is trading in the last 25% of the pattern's length and we could expect a breakout very soon. From what we have seen lately (pair tested pattern's
Kiwi-greenback cross has been trading in a 420 pip range (gap between the pattern's support and resistance) for the past three months. At the moment it seems to be forming a bottom after a bounce from the pattern's support. Fibonacci retracements (end of April to end of June move) appears to have significant impact on the pair. Short term technicals
Throughout the last 300 bars EUR/AUD has been trading in close proximity to the 200-period SMA, but each time the currency pair seemed to have lost willingness to advance further, the moving average has been successful in preserving the bullish momentum by initiating rallies each time the currency pair tested it. Right now the price is once again approaching this
After bottoming out at 0.8724 CAD/CHF started rising. The currency pair has been in an up-trend for more than 90 hours already, but it is still ready for even more gains, considering that the bullish support line proved to be reliable and is therefore unlikely to give in if the dips are to occur.Accordingly, when the Canadian Dollar weakens, it
Following a strong surge of the Sterling against the Australian Dollar in the early stage of the pattern, the price has been gradually reducing its trading range, resulting in appearance of the triangle on an hourly chart.However, just a few bars ago GBP/AUD fell through the rising support line down to the 200-hour SMA, meaning that the bias towards the
There is a more than 100 bars long pattern on a four-hour chart of GBP/JPY. And even though the trend-lines forming it were confirmed only several times, the potential for the British Pound to continue outperforming the Japanese Yen is intact.Firstly, the currency pair has recently bounced off the support created by the lower boundary of the channel and the
Pair narrowed it's trading range from 160 to 50 pips since the start (397 bars) of the pattern. At the moment pair is undergoing a bearish pullback which was caused by the 20-day SMA/61.8%. And trading just slightly outside the boundaries of the pattern. It is worth mentioning that approximately 70% of triangle pattern's have pullbacks and in around of
A short, but possibly, highly profitable ascending triangle pattern was formed by Pound– Aussie cross and it seems the pattern is moving closer its apex. The main reason for it is that both trend lines will converge on September 5. Even though the pair is currently trading in the lower part of the pattern, technical indicators are pointing to the
A rising wedge pattern with average percentage of quality and magnitude was formed by USD/JPY on July 19. Even though the pair has performed a false downside breakout, it has moved back in pattern's boundaries, as this move was market's reaction on fundamental data. At the moment of writing, the pair was trading at 98.205– just 25 pips above the
During the last two days, USD/RUB was appreciating, exceeding important resistance levels at its long and short-term SMAs that now act as support regions. Currently, the pair came close but did not quite approach its 50-hour SMA at 33.2148. If the pair slips through this level, it will slide to its 200-hour SMA at 33.1017 and, if breached, USD/RUB would
A rise above the 200-hour SMA on August 13 gave USD/ZAR an impulse to rally to more than a five-year high of 10.5109 touched on August 28. However, the pair came off this high to plunge to the pattern's support that stopped a drop and sent the currency couple near its 50-hour SMA, the level close to which the pair
After being traded below its 200-bar SMA and above its 50-bar SMA, CAD/JPY lost momentum and dropped under its 50-bar SMA that transformed into a strong resistance preventing upward moves of the currency couple. Now the pair is vacillating above its daily S1 at 92.87 that, if overcome, will trigger a sharp decline to the next support zone at 92.46.
Having surpassed its 200-hour SMA, USD/NOK was trading in a narrow corridor formed by two upward-sloping lines. The pair jumped above its 50-hour SMA on Wednesday to trade near the level of 6.0684 (daily PP). In the short-term, the currency couple may decline, as 57.14% of market players hold short positions in the pair. If traders' expectations materialize, the pair
After peaking at 1.16 on August 25, AUD/NZD has been moving in boundaries of the descending triangle, however the patter is likely to be completed soon. First, both trend lines will converge on August 30, while yesterday's breakout and the recent throwback are supporting the case of an upcoming apex. However, aggregate technical indicators do not give a clear
The Aussie is losing ground against another major and this time it is the Swiss Franc, and most likely the tendency will persist for some time. Even though on August 15 and 19 there has been two attempts to perform the upside breakout, the pair bounced back after touching the 200-bar SMA. As bulls were unsuccessful and the pair resume
Pair seems to be heading downwards after a rally from the 7th to 19th of August. On the other hand, pair has been depreciating since the beginning of August and Channel Down pattern at hand should be seen more as a continuation of this trend. Short term technicals point at further appreciation of the pair which seems are very likely
Pair has been holding a noticeable bullish trend since the beginning of April. This trend has manifested in to the form of Rising Wedge pattern which started on the beginning of July. It is worth pointing out that there are another three rising wedge pattern's in the area of this pattern. However their quality and magnitude ratings are much lower
Having reached a pattern's upper trend-line, the pair changed its direction to the north. A stab to the lower boundary of the channel down pattern prevented the pair from a further decline that may have taken the pair well below the current level.Now AUD/JPY is moving towards its daily R1 at 87.82 that, if overcome, may trigger tests of daily
EUR/NOK was strong enough to advance after a sharp decline under its long-term SMA, a drop under which sent the currency couple to an one-month low of 7.7784 on August 13. A sharp rise was observable after this short-term weakness, with EUR/NOK skyrocketing to a 33-month high on August 22. However, a bounce above this level failed, making the
For more than a month, 200-bar SMA was blocking any upside movements of USD/SEK, forcing the pair to retreat every time it attempted to approach this psychological level. It seems unlikely for the pair to overcome its 200-bar SMA at 6.5284 in the days to come, and USD/SEK may continue to swing not far away from 6.4722 (daily S1). If
GBP/USD gained inspiration after crossing its 200-bar SMA on July 22, the level which it was unable to surpass for almost a month. The rise triggered a short-term rally of the pair that failed to remain above its 200-bar SMA after breaking it for the first time in a month but managed to better this zone after a short pause
Pair has been in a noticeable uptrend since July, 2011. Usually it was a substantial one month long rally followed by a consolidation period of two to 3 months. This pattern captures one of these rally periods and it is worth pointing out that shows a much greater slope than in most of the other mentioned cases. We are seeing
Pair has noticeably narrowed it's trading range—from 67 pips in the beginning of the pattern to 12 pips recently. In addition pair is trading in the last one fifth of the pattern's length which in itself already speaks about the increased probability of a breakout. Add a very high magnitude (of moves) rating of the pattern and we have a
After reaching 9.969 on August 7, USD/ZAR began a rally and until the moment of writing the pair has been appreciating. However, it seems that bulls will experience some difficulties around 10.513– more than a 5-year high, however, in case of penetration of this level, the pair is likely to head towards 1.643– pattern's resistance. Meanwhile, 74% of all opened