Euro-pound pair at the moment is trading exactly on the pattern's support. This fact become very important when we take in to the account that short term technicals on aggregate point at the breach of the pattern's support and the pattern has high magnitude rating (indicates the possibility of large movements and momentum gains if/when the pattern is breached). Long
Greenback-yen cross has been developing in the ranks of the Channel Down pattern rather well. Since the pair rather recently rebounded from the pattern's resistance and pattern's quality and magnitude ratings are just slightly above the average we could say that we could expect returns from smooth and predictable moves of the pair rather than from volatility. However, we should
We consider EUR/NOK to be carrying significant bearish potential at the moment. This opinion resides on the premise that the lower edge of the symmetrical pattern, the currency pair has been charting throughout the past 330 trading hours, has been just broken.We may expect a bullish retracement in the nearest future up to 7.8676, which supposedly will turn out to
Even though the pattern on the chart of XAU/USD has not yet been completely formed, there are good reasons to believe the commodity will continue depreciating along the hypothetical boundaries of the channel down in the short run.One of them is that the long-term simple moving average has been breached, which implies that the outlook has changed from positive an
For 200 hours already EUR/DKK has been consolidating between two horizontal lines, the ones that are found at 7.4569 and 7.4541. They are also reinforced by the four-hour R3 and daily S1 respectively.In the short run the currency pair is supposed to grind lower, as suggested by the hourly indicators. Beyond that the outlook is rather unclear. Still, considering the
Since Jul 10 the Euro has been generally gaining in value relative to the Singapore Dollar. However, the currency pair has recently failed to advance beyond 1.6996. As a result, EUR/SGD pulled back to the support at 1.6792 that held until now, meaning the price has formed a descending triangle on an hourly chart.The pattern is currently under threat of
A 113-bar long channel down was formed by EUR/NOK on July 5, and the pattern is likely to be completed soon, as the price is trading close to the resistance line for some time. Usually, it would be a "sell" signals, however, the majority of aggregate technical indicators are pointing at the penetration of the upper trend line. Moreover, trading
Pair is developing in the ranks of a Channel Down pattern rather well ( as indicated by 84% quality rating). Magnitude rating being in the higher than average side indicates that pair's movements are also in elevated pace which offers additional trading opportunities. At the moment pair is mid way moving from pattern's resistance to the pattern's support. Short term
Aussie-loonie offers rather good trading opportunity as at the moment it is trading exactly on the pattern's resistance and we should see the pair either breaching it, either rebounding from it. As technical indicators on aggregate do not give clear signals we could pay attention to the short and long term Stochastic indicator which sends buy signal suggesting that a
Pair has formed a rather orderly Rising Wedge pattern. Pattern's quality and magnitude ratings are well above the average. Trading volume goes well in line with the idea that it decreases before a possible breach. In addition, at the moment pair is trading just slightly below the 2013 high which was reached in the end of June. For the purposes
Just recently, 50 bars ago, USD/CHF has started to show activity that for the most part was directed upwards. Before that there was virtually little or now deviation from the previous close prices. This has led to formation of the upward-sloping channel, although its lower boundary at 0.9290 is currently at risk of being breached, a course of events that
Being unable to push through the support at 104.99, CHF/JPY started to move in the opposite direction, namely upwards. As a result, it formed a rising wedge on an hourly chart. And even though the pattern has been already broken to the downside, there are still ways to make use of it, since the price has not yet gotten far
During the last 190 trading hours the currency pair has been generally advancing forward, while at the same time ignoring the long-term simple moving average that has proven to be unable to stop USD/SGD from moving higher. Now the price is approaching the 200-hour SMA from above in order to regain the bullish momentum it lost near the rising resistance
Pair has depreciated by 400 pips in the course of two days (from first touch point at 1.1747 till the pattern' support at 1.1347). It is possible to incorporate Fibonacci retracement of this move in to the analysis, but they seem not to have any effect after he first rebound from the pattern's resistance (Fibo 23.6% was located there). It
Although aussie-greenback cross is a rather volatile pair due to significant noise in the market lately it is much more so in the length of this pattern. However, because of this the pattern has a much higher magnitude (of movements) rating which suggests that there is a high chance on achieving significant returns while trading on momentum when the pattern
After a false breakout a day earlier, bulls are making another attempt to penetrate the resistance line. Even despite a slight retracement to 3.218, the pair is likely to jump above the resistance line, as indicators on 4H chart are sending strong "buy" signal. However, in a longer period, the price may move back in pattern's boundaries and even form
Following several retests of the support line, EUR/AUD is continuing channelling upwards for more than 100 already, and the tendency is expected to persist. This idea is supported by aggregate technical indicators on 1H and 4H charts, which are pointing at the appreciation of the single currency against the Aussie. However, the majority of traders (74%) are opening short positions,
While being underpinned by the long-term moving average (200 bars), the U.S. Dollar has been generally appreciating vis-à-vis its counterpart from Singapore. It is also important to notice this was happening at an increasing rate.As a result, USD/SGD charted a rising wedge, meaning that the rally is approaching a state of exhaustion and is therefore subject to a sell-off in
Following a failure to exceed the resistance at 0.9280 the Australian Dollar entered a channel down that is already 100 bars long. Even though the corridor is fairly narrow—a little more than 100 pips wide, none of the trend-lines were disrupted by the price action during this period. Consequently, we may expect the currency pair to remain within these boundaries
Throughout the most recent 100 hours USD/SEK has been unable to surpass the rising trend-line (currently at 6.6250), nor the currency pair was willing to fall beneath the lower boundary of the bullish corridor (currently at 6.5086). Accordingly, the outlook on the price is positive, although in the near term it is likely to be undergoing a bearish correction, considering
It might not be the case that USD/HKD is forming a rising wedge while being in a major up-trend (one of the pattern's requirements), but during the last 40 hours the currency pair has been consistently fluctuating within two converging trend-lines and thereby gradually reducing the trading range.Now the price is facing a cluster of resistances that is likely to
A 348-bar long double bottom was formed by USD/NOK on July 7, however, the pattern is likely to be completed soon, as there have been several false breakouts recently. At the moment of writing the price stood at 5.945, just 180 pips below the resistance line. As the market sentiment is almost equal, the pair is likely to be driven
On July 23 the pair touched a 23.60% Fibonacci Retracement and since then the pair has been moving to the north and has even formed a rising wedge. During the last several hours there were several attempts to break the support line, however, bears were not strong enough. Currently, the market sentiment is not clearly marked (52% bullish), and
Pair has been very volatile in the most of the pattern's length, but is showing much more smoother trading sessions lately. After a prolonged move along the pattern's support pair reached pattern's resistance in the course of 3 days and at the moment is trading out the recent rebound from it. It might be that we will see the pair