Aussie-kiwi cross has been gradually narrowing its trading range maintaining the lower boundaries at the same level. As a consequence we have a descending triangle pattern. Pattern's support is set to intersect with the pattern's resistance on the 12th of July, 19th of July. It is worth mentioning that pair is trading at the last decimal of the pattern's length
Non greenback pairs remained immune to the market noise and continues to develop in the ranks of the patterns rather nicely. Although channels are not the most exciting pattern's, it is worth mentioning that in case of the Euro-pound we have a pattern whose quality is quite above the average and magnitude of 90%. This suggests that traders could expect
Even though the slopes of the trend-lines, which have been containing the currency pair for 450 hours already, are low, each subsequent peak USD/ZAR has reached and each subsequent valley the pair has posted since Jun 11 is a smaller deviation from the centre of the pattern.Right now the pair is at the lower boundary of the formation, suggesting that
During the last 149 trading hours EUR/JPY has been trending downwards within an almost 250-pip wide corridor. This period was marked by a breach of the 200-hour SMA, although it appears the significance of the line is currently decreased—the currency pair often disrespects the moving average. Meanwhile, the technical indicators on 4H and daily charts contradict each other and traders
Kiwi-greenback is posing for a rally as I has formed a Double top pattern (try to reach new low, fail and thus return to trade in the previous levels). Due to the volatility in the middle of the pattern we could see it as a Triple Top pattern. However, its assumptions and expectation (further appreciation) are exactly the same. It
Aussie-greenback has reached new low which is the recent bounce from the pattern's support. It adds some weight to the expectation that pair will continue appreciating and move towards the pattern's resistance. In addition, we have the aggregate reading from the short term (4H) technical indicators which point at further appreciation of the pair. Medium term (1D) technicals give negative
As the trading range is narrowing rapidly and both trend lines will converge in September, we might suggest that not later than during a two-month period, a penetration of any of the trend line will occur. As aggregate technical indicators are not univocal and sending mixed signals, the pair is likely to be driven by the market sentiment, which is
A 107-bar long Rising Wedge was formed by USD/DKK on the 1H chart in the beginning of this month. At the moment of writing the pair was traded at 5.820, only 170 pips above the support line. According to tools of technical analysis, the pair is likely to reach pattern's lower trend at the level of 5.803, as aggregate technical
Comment: Pairs development lately has been rather interesting—calm and reasonably predictable trading period are followed by 70 to 130 pips sell offs. However, even with these facts pattern's quality rating is well above the average. On the other hand, such moments indicate that traders can also expect that pair might gain significant momentum once it touches or breaches the pattern's
Pair has been gradually narrowing its trading its range—70 pips in 100 bar period. In addition, trading volume lately has been somewhat low. It could be easily taken as another indication that we should see pattern's bake out soon. Technical indicators, however, do not give clear or convincing suggestions what and in which direction is going to happen. There are
Danish Krone's peg to the Euro results in small movements in EUR/DKK, but still does not prevent the currency pair from forming the patterns, in this case a triangle.At the moment it may seem that the risks are largely to the downside, considering the signals provided by the technical indicators and the fact that the 200-hour SMA together with the
Since Jun 13, when the currency pair bottomed out at 0.9130, USD/CHF has been in an up-trend, covering more than six figures.However, there start to appear signs that the price is approaching its peak and will thus be soon unable to advance upwards. One of them is formation of the rising wedge pattern on an hourly chart, which implies a
It is worth pointing out that Swiss franc—yen cross has been coming up in our radars rather often recently. This time we have a very interesting situation in our Rising Wedge pattern—pair is trading very close to the pattern's support; the Stochastic indicator in the short term and technical indicators on aggregate in the medium term sends a very strong
Aussie-greenback cross is signalling about further appreciation of the pair. It is main underlying fact about the Double Bottom formations—pair fails to reach new low and thus returns to the previous trading levels. In this particular case for the pattern's low we have 42 month low, which makes the pairs further appreciation even more plausible. As for technical levels we should
A simple channel up pattern was formed by USD/SGD on the May 8, and during the last two months we were observing the appreciation of the greenback against the Singapore currency. As the number of long and short positions is almost equal, the pair is likely to follow the trend. Moreover, aggregate technical indicators on 1D and 1W charts are
Pair has been narrowing its trading range by 250 pips in 379 bar range and recently it has been moving towards the pattern's support line. As the current market sentiment is not strongly marked (bearish 56%), the pair is likely to be driven by technical indicators. And according to them, the pair is expected to continue appreciation in a short
Pair has been narrowing its trading range by 80 pips in 100 bar range and recently it has been moving towards the pattern's resistance. Technical indicators, although with significant share of neutral readings, give strong indications that pair will continue appreciating (bouncing from the pattern's support and maintaining bullish trend). It is worth mentioning that trading volume has significantly decreased
Despite the fact of rather volatile trading, pair has been developing in the ranks of a Channel Up pattern rather well. However, it is likely that pairs depreciation after hitting pattern's resistance recently was rather inclined. As a consequence we could see a bearish correction, which should be stooped by some of the resistance levels. Overall pair, is likely to
For almost a month now EUR/AUD has been trading within two converging trend-lines, forming a triangle—a continuation pattern. In this case it implies eventual resumption of a recovery that was initiated at the end of March, near a 1.22 level.The near-term outlook is bullish as well, being that the price is at the up-trend support line, which is unlikely to
After peaking at 1.3786 on Jun 21 CHF/SGD has been in a down-trend ever since, giving up more than five figures. This prolonged could have been a correction for a May 15—Jun 21 rally, but just recently the currency pair has breached the 50% Fibonacci retracement level, leaving only a 61.8% level at 1.3177 as one of a few reasons
During the last two months we were observing the appreciation of the greenback versus its Canadian counterpart. The fact the during the last two weeks the pair was changing hands close to the pattern's resistance level, as well as aggregate technical indicators on 4H and 1D charts, which are sending "buy" signals, are suggesting sooner or later the penetration of
A 87-bar long Channel Down pattern was formed by AUD/SGD on the 4H chart in the middle of June. Even though at the moment of writing the pair was approaching the upper trend line, the majority of technical indicators are sending "sell" signals, suggesting bulls will not be able to break this level from the first attempt. Moreover, on Friday
Comment: Greenback is gaining value after a significant end of May to mid-June sell off. It is reasonable to think that Fibonacci retracements of that move could have significant impact on the pairs move. Fibo 61.8% level already caused some problems when pair wanted to bounce from the pattern's support in the beginning of July. Technical indicators, however, give a
Euro-kiwi has formed a formidable Channel Down pattern. Both pattern's key statistics, quality and magnitude are well above the average reading. As a consequence traders could expect significant returns from the pairs movement towards the pattern's support and momentum if/when the pattern's support or resistance is breached. Technical indicators point at further depreciation of the pair in the short and medium