Franc-yen cross has became much more volatile recently after it moved away from the course it has been in since 24th of July. Recent rally was cause by a bullish impetus pair received from 200-bar SMA and as short and medium term technicals suggest it should continue further. There is a chance that this whole volatility is caused just due
Over the past 340 bars EUR/TRY has been trading between a former horizontal resistance (now support) line and a rising line (both in force since Jul 9). Just recently 2.5648 has been breached, which allowed the price to surge up to 2.5884. However, the pair is presently undergoing a downward correction from this local high and is likely to find
Even though EUR/CAD has recently fallen beneath the 200-hour SMA, it managed to regain the bullish momentum and form a channel up on an hourly chart. The main support the pattern provides is at 1.3655, a level that is also reinforced by the daily S1 at 1.3644 and the 200-hour SMA at 1.3634. Toughness of the zone implies a positive
At a low of 4.2041 EUR/PLN started a robust recovery that pierced through the 200-hour SMA. Since then 40 bars have already been formed, and it appears now that the price has been respecting two parallel rising trend-lines during this period. Right now the currency pair is probing the lower boundary of the pattern at 4.2540, this support is supposed
Despite the fact that the upper trend-line was breached once, the channel down on an hourly chart of GBP/NZD seems to be a reliable pattern. At the moment the major resistance is found at 1.9143, a cluster of various studies, including but not limited to the 200-hour SMA, daily R1 and a down-sloping line. Accordingly, we would expect this area
After falling from 12.494 on July 24, we have been observing the depreciation of the Hong Kong Dollar against the Japanese Yen. However, supported by better-then-expected data from the U.S. the pair surged to pattern's resistance, however, bulls was not able to penetrate this level and close above. However, the upcoming FOMC meeting is also expected to add some turbulence
After forming a double bottom pattern, AUD/USD decided to form another pattern, and this time it is a rectangle pattern. The reason it can be worth describing is that the price is approaching the support line, while just around 20 pips below traders can find almost a 3-year low. According to aggregate technical indicators, the pair is likely to breach
Euro-zloti is signalling recovery of the pair. This is main underlying assumption of Double Bottom pattern (pair fails to reach new low and gradually returns to the previous levels). At the moment it is trading at the pattern's resistance, therefore we could expect some bearishness, most likely in the form of price correction. However, as short and medium term technicals
Euro-aussie has been narrowing its trading range since the middle of May by 300 pips in 100 bar period. At the moment it is trading 9 bars from the pattern's apex which is located at 1.3660. in addition, we can observe an increase in the trading volume in the length of the pattern. It is slightly lower in the recent
Even though there are merely 30 bars now composing the bullish channel on an hourly chart of EUR/NZD, it may still prove to be topical in the near term, considering that the market has been respecting the trend-lines forming it.The support is thus likely to be found at 1.6586, there the pair will also find the daily pivot point and
After reaching a high of 100.45 USD/JPY was subject to a strong bearish impulse that pushed the price down to a low of 97.63. There the currency pair started a surge that has eventually hit a ceiling at 98.40. As a result, the price has formed two valleys that could potentially be a part of the double bottom pattern. However,
It seems that a rally started more than 20 days ago is now overextended and requires a correction in order for the bullish momentum to regain strength. While technical indicators are largely mixed (1H and 4H time-frames), the price continues to advance, but at the same time is little by little reducing the width of fluctuations, namely forming a rising
During the past 100 trading hours AUD/CAD price has been following two parallel falling trend-lines, meaning that it has formed a channel down pattern. However, while the lower boundary, currently at 0.9287, seems to be fairly reliable, being that it was tested on several occasions, the upper boundary may not be showing the most likely turning points in the future,
Euro-aussie cross has been appreciating rather steeply since the start of April. Having this in mind, the fact that the pair is trading at the higher boundaries of daily and weekly pivots does not come as much of a surprise and only technical levels that could give some orientation are monthly pivots. At the moment it is at the pattern's
Gold has been appreciating steadily since the end of June, however, it seems it might have reach a tip point for the time being. Last rebound from the pattern's boundaries left the pair trading in relatively narrow 3900 pip range for the past 7 days. Although medium term technicals give positive outlook on the pair it is worth pointing out
Previously we were convinced by several factors that USD/NOK would remain bearish and was therefore poised for a decline. As it turned out, the falling resistance line failed to contain the surge and allowed the price to mount over the 200-hour SMA as well. Now the price is likely to face the resistances at 5.9556 (daily R1), 5.9729 (daily R2)
Yesterday we were discussing the rising wedge EUR/NOK is still forming. In the shorter term there is a different pattern emerging—an ascending triangle. Although its length is merely 40 bars, both the resistance at 7.8789 and the up-trend line were consistently confirmed by the most recent price action.Concerning the breakout, it is likely that in the short run the currency
We continue to observe development of the bullish channel on a EUR/USD chart. The currency pair, as expected, respected the rising resistance line and is currently headed towards the lower boundary of the corridor at 1.3233. This in turn is supposed to initiate a rally that should encounter and eventually overcome obstacles at 1.3266 and 1.3292. And even though the
Soon after breaching the 200-hour SMA from below (Jul 10) the Cable started gradually decreasing the trading range. As a result, the currency pair formed a 240 bars long rising wedge on an hourly chart, although we are already about to witness violation of the lower edge of the pattern. This scenario is not implied only by the set-up itself,
Another Triangle pattern today can be observed in the gold/greenback pair. Pair apex is at 1325.38 on 1st of August, 18:00 which is a substantial distance for any profile traders not to feel cornered and ignite any major moves. Short and medium term technicals give neutral outlook which only supports the idea that the pair remain bounded by the pattern.
Cross of the US and Singapore dollars has been gradually narrowing its trading range (50 pips in 100 bar period) and formed a Triangle pattern. Currently pair is trading around 100 bars from the pattern's apex, which is at 1.2684, of 2nd of August 17:00 GMT. It is a sufficient distance for the traders not ignite any major rallies/sell offs
Greenback-yen cross has been appreciating for quite some time making the formation of a Channel Up pattern highly expected. Recent pullback raises few questions about the continuity of the pattern. However, it is worth pointing out that major level at 100 JPY and Fibonacci retracements (September, 2012, till May, 2013, move) are playing significant role in this—the most recent bounce
For more than 200 hours already the single European currency has been appreciating relatively to the U.S. Dollar, thereby forming a channel up. Still, we must note that the boundaries are not perfectly parallel—the upper trend-line is slightly less sloped than the lower one, meaning there is a slim chance this being a rising wedge, but we favour the former
Even though there are not many signs that NZD/CAD is in the bullish channel, there are two rising lines that could potentially guide the price further up. The upper trend-line is currently at 0.8348. At the moment it is acting as the resistance and should push the price downwards, towards the lower up-trend at 0.82, where the currency pair is