JPY has been losing value against most of the major counterparties for quite some time now. In the cross with the Swiss franc we can see that the pair is moving rather nicely, thus the above average, 61%, result of quality reading. For the same reason, magnitude reading is below the average, thus the main part of the returns for
Pair's Channel Down pattern has been developing rather nicely. However, we can see some turbulence in the recent trading activity which might cause some confusion and pair might trade sideways for some time. In any case, we think that pair is likely to continue to develop in the ranks of the pattern and start appreciating towards the pattern's resistance. Such
Aussie has been losing value against the loonie for quite some time, thus making the formation of a Channel Down pattern inevitable. It is worth mentioning that pattern's quality, due to volatile trading in the middle of the pattern is slightly below average. However, pairs magnitude of possible movements there for is above average and traders could expect significant relative
In case of this pattern we would rather look at its upper boundary, considering it received more confirmations during the last 65 hours than the lower counterpart. Accordingly, the falling resistance line is a more reliable estimator of the turning points for GBP/NZD in the nearest future, it is also currently being tested at 1.9257.Judging by the technical studies, risks
We can draw two parallel rising trend-lines from Jun 13 that have contained EUR/JPY and thereby form a channel up. Should the price move straight up or down, it will encounter them at 131.64 or 128.13 respectively. Although in case of a down-move the 200-hour SMA at 129.20 will also come under pressure first.Technical indicators on 1H, 4H and daily
At the moment of writing the AUD/CAD was trying to penetrate the resistance line, meaning an end to the downside trend, which started on April 11, when the pair dropped from 1.0715, currently trading at 0.9654, only 10 pips below the upper trend line. However, according to aggregate technical indicators, the pair will bounce back from this level, as indicators
A rising wedge pattern formed by USD/SGD in the beginning of May has 60% quality and 100% magnitude in a 229-bar period. The pattern is moving closer its apex, as the trading range is narrowing, suggesting a breakout to the upside or to the downside can occur soon. Even though rising wedges are breaking to the downside in 69% of
As most of the pairs, which denominate yen as a foreign currency, euro-yen cross has been holding bullish trend for some time now. After a recent rebound from the pattern's resistance pair has been moving towards the pattern's support rather neatly. To give the complete picture, however, we should inform that on the same chart (4h) there are few Rising
Greenback-loonie cross is signalling about pairs depreciation as this is the main underlying idea of the Double Top pattern's (pair fails to reach new high and gradually returns to the previous levels). Such development in the short term is supported by the technical indicators. In the medium term, however, we have completely different picture—almost unanimous indication of pairs appreciation. Taking
Pairs appreciation is not much of a surprise. However, lack of patterns, which highlighted bullish trend was rather unexpected. Currently pair is trading along the pattern's support. However, as indicated by the short term technicals, pair should pick up the pace and rush towards the pattern's resistance soon. In the medium term we might see some short term sell offs
Pattern's quality is not at the highest ranks and the pair might be a bit too volatile, but pattern's nature together with the short term technicals give rather good indication of what we can expect in the nearest future. It is likely that the pair will continue moving along the pattern's support before eventually stabilizing as suggested by the medium
Here the 200-hour SMA played a major role in forming the pattern, unlike in GBP/JPY discussed on the previous page. We may also extend the falling trend-lines further into the past (beyond the last 100 bars) and see that they were respected by the market earlier as well, meaning it should take bulls a lot of effort and time before
Back in June there were concerns whether the British Pound will be able to recover; however, for the last 250 hours the currency was confidently moving upwards, reaching new peaks and posting higher lows, thereby forming a channel up on a 1H chart. During this period the 200-hours SMA did take part in creating a pattern, but only as an
Pair has been slowly narrowing its trading range and formed a triangle pattern. Pattern's support and resistance are set to intersect on 12th of July, 09:00 GMT at 0.8216. Although technical indicators do not give any clear aggregate readings, we could focus on few things. First of all, the Stochastic indicator on the 1H Chart (on the left). It sends
It seems that pair is resuming its long term bullish trend which started at the end of 2012. It was interrupted by end of May to mid-June sell off, which was right before the pattern's start. Short term (4H) technicals suggest that the pair will continue depreciating. Daily technicals point at appreciation of the pair suggesting it will continue to
The same as the previous trade pattern, a descending triangle formed by USD/HKD one month ago is moving to its apex, therefore can be profitable. Tools of technical analysis are sending mixed signals and pair's future movement cannot be predicted precisely. On aggregate technical indicators on 1D chart are sending "sell" signals, pointing at another re-test of the support line.
A 61-bar long trade pattern idea formed by EUR/NOK on the June 19 is moving to its apex and is likely to be completed soon, as both trend lines will converge on July 8, and the trading range is narrowing rapidly. As aggregate technical indicators on three different timeframes are sending either "buy" or neutral signals, the penetration of the
The pair has been depreciating for the past 2 months or so, therefore the formation of a channel down pattern did not come as much of a surprise. Pair has been developing in the ranks of the pattern in the whole length of it (101-bars). Medium term technicals point at depreciation of the pair suggesting it should maintain bearish trend.
Pair has been trading in a rather narrow range for quite some time now. And it seems it has been gradually narrowing it, thus the Triangle formation. Pattern's support and resistance are set to intersect on 14th of July, 17:00 GMT at 0.7722. Technical indicators suggest that the pair still has the propensity to breach the pattern's resistance in the
Over the past 260 hours the Australian Dollar has been generally depreciating. Its price has fallen from 1.2088 down to 1.1517 and, according to the pattern its has formed, even more losses may follow. However, before AUD/SGD reaches new lows, it is expected to undergo a bullish correction either up to 1.1705 (200-period SMA) or 1.1760 (down-trend resistance), since it
USD/ZAR's rally from 8.91 was stopped by a tough resistance area at 10.3447, but a sell-off that ensued was in turn limited by a formidable support line at 9.8418. Since then (450 hours ago) these two levels have been keeping the currency pair within a horizontal corridor, i.e. in a rectangle. This implies that eventually the U.S. Dollar should recommence
A 126-bar long triangle, or a so-called symmetrical triangle, was formed on the May 29, when the pair dipped from 0.8464, level currently represented by a Fibonacci Retracement. The trading range is narrowing and the pattern is moving closer to its apex, as both trend lines will converge on July 26. According to the tools of technical analysis, the movement
Loonie has been depreciating against the Swiss Franc for almost a month, however, the price reached the resistance line of a channel down pattern, and in case of an upward breakout, higher prices can be expected. The penetration of this level is supported by aggregate technical indicators on a 4H chart, which are sending "buy" signals. At the same time,
For quite some time now Japanese yen is continuously loosing value. No different is the cross with the single currency. As short term technical indicators suggest the pair is likely to appreciate further, but should somewhat slow down in the medium and long term. Most likely it will happen once it reaches June high slightly above the 131 JPY. As