During the last 300 trading hours USD/TRY has been in a low-slope up-trend after an accelerated rally from 1.8503 up to 1.9606. This channel up is an emerging pattern that still requires more confirmations of its boundaries, especially the upper one, for it to be fully formed. We may soon expect a test of the lower edge of the formation
Since Jul 9 GBP/NZD has been consistently recovering from a low of 1.8865, delaying advancement only on a few occasions and for short periods of time. It was 60 hours ago when the price encountered a formidable resistance area at 1.9469, which did not let the British Pound to move any higher. On the other hand, the dips initiated at
For little more than 80 hours USD/PLN has been trading between two converging trend-lines. However, the currency pair has already reached the apex of the pattern, meaning we are likely to see more activity in the exchange rate, volatility of which has been diminishing with each trading hour lately. A break-out usually implies sharper moves and we expect a sell-off
After reaching a low of 1180.86 on June 28, gold is starting to recover versus the greenback and even formed a channel up pattern, with 65% quality and 60% magnitude, suggesting we might observe the appreciation of the pair for some time. Even though technical indicators on three different timeframes are sending mixed signals, market sentiment is strongly bullish (73%),
As the Danish Krone is pegged to the single currency, the EUR/DKK is not so volatile as in comparison with EUR/USD, however, the fact that at the moment of writing the pair was testing the lower trend line, is adding to signs the pattern may be profitable for trade. In case the price will close below 7.4576, bears will take
It seems that after the recent rally (from 13th of June till 7th of July) the time has come for some bearish correction. However, recent bounce from 98.2 JPY and aggregate readings from medium to long term technicals raises some questions. In the short term we should see another sell off (suggested by the Stochastic indicator), but it is unclear
Pair has been narrowing its trading range since 4th of July—from 2200 pips then to 350 pips now. Very Important is the fact that pair is currently testing pattern's resistance. Taking into the account high gauge of magnitude (of movements) of the pattern it is likely we could see significant momentum gains if the pair breaches the pattern's boundaries. However,
Euro-yen cross has been developing in the ranks of a Rising Wedge more than a year (367 trading days). Pair has exceptionally high quality rating (85%) and, at the same time, high magnitude gauge which suggests a possible major gains. Although technical indicators on aggregate on all relevant horizons point at appreciation of the pair we should take into account
Japanese yen has been losing value for quite some time now. As a consequence Channel formations are rather often met with this currency now. Although pair started the week in a rather volatile fashion we should notice that technical indicators almost unanimously point at the further recovery of the pair. Taking in to account that last pairs touch point with
Pair has been trading in a range since the end of May, but formed a quality Rectangle pattern only in the mid-June. Pair has been bouncing from the pattern's support to the resistance rather well which reflects in the 64% (quite above the average) pattern's quality measure. Taking in to account the range of the pattern, which is almost 5000
Just recently USD/CAD has formed a triangle on a 1H chart. However, it is now just a matter of several hours when either the up-trend or the down-trend line gives in and we observe a break-out. Considering the type of the pattern, i.e. the one that skews the chances towards continuation of the previous move, the support at 1.0379 is
Even though the length of this channel up pattern is only 80 bars, both trend-lines forming it were confirmed on a sufficient amount of occasions to call them reliable, at least in the short term. Indicators on the 4H chart are also suggesting there is going to be a rebound.However, according to the daily signals, the lower boundary of the
Situation in this pattern is rather interesting. Technical indicators give strong aggregate signal about the further appreciation of the pair. However, we should pay attention to the fact that quite a few technical indicators give individually neutral outlook. In addition to this, 71% of all open positions on the pair are short and pending orders are equally divided between the
As anticipated pair moved towards the pattern's support rather neatly and bounced from it. However, daily PP at 0.863 unexpectedly put more than anticipated pressure on the pair and pushed it to the pattern's support once again. However, it should be pretty safe to say that this should be bears capitalizing on the recent sell of. We could say so
Taking into account recent depreciation of the Japanese Yen, a channel down formed by EUR/JPY looks rather unusual. However, this retracement can end soon and we will observe further appreciation of the single currency versus the Japanese Yen, as the majority of technical indicators on aggregate are sending "buy" signals. In case of an upside breakout, higher prices are expected.
A rare, but possibly profitable, double top was formed by EUR/NOK. Several days ago the pair tried to penetrate the support line, however, bears were not strong enough. At the moment of writing, 73% of all opened positions were short, suggesting the price may turned lower and reach the lower trend line once again. In case of a downside breakout,
We can observe increased volatility in most of the aussie denominated pairs. This, as in this case as well, lets us to believe that pattern's breach is likely to be swift and traders could trade on the momentum. Short term technicals point at further appreciation of the pair which coincides well with the fact that 70% of all open positions
After a recent rebound from the pattern's resistance pair has reached pattern's support in a timely fashion. We can see a relative increase in the trading volume which points at an increased probability of momentum gain. As short and medium term technicals do not give clear indications bout pairs behaviour we could take a look in to the market sentiment.
On the whole AUD/NZD is in a long-term down-trend; however, recently it has proved to have insufficient bearish momentum in order to pierce through the support at 1.1636, attempting to breach it since Jul 3. With each try the currency pair rebounded, but was frequently capped by the resistance line at 1.1748.Concerning technical indicators, more of them give ‘sell' signals
Mainly thanks to the 200-hour SMA that has acted as a solid support, EUR/CHF has been able to advance north for the last 160 bars and form an upward-sloping channel.Right now the currency pair finds itself close to the lower boundary of the corridor, specifically just above 1.2378, where the 200-hour SMA is as well. Accordingly, the risks are heavily
Despite the recent increase in volatility pair has been developing rather well in the ranks of the pattern. Pattern's quality is above the average. On the other hand, recent volatile period significantly increases the chances that pair will gain momentum once pattern's boundaries will be breached. However, breach of the boundaries does not seem to be coming soon as technical
Aussie-kiwi cross has been gradually loosing value since mid-march, 2013. As a consequence, formation of a channel down pattern does not come as much of a surprise. Technical indicators does not suggest that we should expect a move towards the pattern's resistance. Medium term technicals suggest that the pair should be moving along the pattern's support. However, it is worth
Rectangle pattern formed by USD/ZAR is moving to its apex and soon we are likely to see a penetration of the support line. At the moment of writing the price stood at 9.917, only around 700 pips higher than the lower trend line. The idea of downside breakout is supported by aggregate technical indicators on 4H chart, which are sending
A 125-bar long Channel Up was formed by EUR/PLN on the 4H chart more than a month ago. The pair has been not so volatile during the last several trading sessions, however it has moved to the north rather nicely. As technical indicators on 4H and 1D charts are sending "neutral" signals, the pair is likely to be driven by