Kiwi has been trading in a 150 pip range for the past 7 sessions. Technical indicators suggest that the pair is likely to depreciate further, most likely until it reaches the pattern's support. Short and medium term Stochastic indicator suggests that the pair should start appreciating soon. Rally is likely to be ignited by the mentioned pattern's support. Although long
Just as in EUR/NZD, trading range of USD/CAD has also been narrowing since Jun 14, leading to formation of a triangle, but in this case of an ascending one due to a tough resistance line at 1.0554, although we should mention formidability of the up-trend support line here as well. Talking about the break-out from the pattern, the risks are
Throughout the last 270 hours EUR/NZD has been posting lower peaks and higher valleys, in other words forming a triangle on an hourly chart. However, even though both trend-lines proved to be reliable, one of them is soon going to be breached, being that the pair is approaching the point of their intersection (there are still around 20 bars to
A 187-bar long Double Bottom pattern was formed by CAD/JPY. The pattern can be very profitable for trade as the price is approaching the upper trend line, and in case of penetration of this level, higher prices and increased trading volumes can be expected.The fact that aggregate technical indicators 4H chart are sending "buy" signal, and that market participants are
A short term bearish pattern was formed by GBP/USD on June 17, when the pair started depreciating from 1.5752, currently trading at 1.5150. Even despite the fact the pair has been heading to the south during the last several weeks, further movement cannot be predicted unambiguously.There are several reasons behind it: on the one hand aggregate technical indicators are sending
Since the end of may pair has been trading in a relatively narrow 125 pip range—between 0.8595 and 0.8469. As we can see from the previous sessions pair spends quite some time just before the pattern's resistance. Pair is acting the same way this time as well. Technical indicators suggest that pair will attempt to breach the pattern's resistance, but
For the past 3 and a half week pair has been narrowing its trade range. There are approximately 25 bars, slightly less than 10% of the pattern's length, left till the pattern's apex which is located at 1.4229 on the 3rd of July, 11:00 GMT. Technical indicators in accord point at further, after a recent bounce from the pattern's support,
Euro-greenback cross is signalling about a possible rally. It is the underlying idea behind the Double Bottom pattern— try to reach new lows, fail and then to return to the previous levels. Such turn of events is also supported by the short and medium term technical indicators. However, pair is approaching major level at 1.31—200-day SMA and pattern's resistance. Taking
Euro-Swiss franc cross is continuing its slow but steady rally. Pairs further development raises very few questions. Short and medium term technical indicators point at further appreciation of the pair. We can also observe clearly bullish sentiment in the market—75% of all open positions are long and 90% of all pending orders are long on the pair as well. Short term
USD/TRY is currently eroding the up-trend line, meaning that we are unlikely to see continuation of U.S. Dollar's appreciation in the nearest future, as we did in the recent past, unless the currency pair rebounds from the support at 1.9181 and returns back above the 200-hour SMA despite the mixed signals of the technical indicators.However, traders are already positioned for
Within the last 100 trading hours AUD/JPY has managed to breach the 200-period SMA and confirm it as a current support level, forming the bullish channel in the meantime. However, for now, until the lower boundary of the pattern is tested a few more times, we would rather trust the up-trend resistance line when estimating the most likely reversal points.All
During the last 313 hours we were observing the appreciation of the greenback versus the Turkish Lire, and according to tools of technical analysis a penetration of the support line in the nearest future can be expected.The majority of market participants (72%) are opening short positions, while indicators on a 1H chart are sending "sell" signals, also adding to signs
A Triangle pattern was formed by NZD/CAD on the May 29, when the pair dropped from 0.8465, currently represented by a Fibonacci Retracement. The pattern can be very profitable for trade, as the trading range is narrowing and is now only 180 pips. Therefore, a breakout is expected, but not later then July 26, when both trend lines will converge.According
Pair started with a rather noisy trading period which significantly lowered its quality rating (56%) and in a sense artificially imploded magnitude (50%). However, we can see that pair is developing rather neatly in the ranks of the pattern and higher return could be expected from planned movement towards the pattern's resistance rather than from unexpected rallies. Expectations of a
EUR/CHF as most of the euro as home currency denominating pairs are posing for a rally. In the cross with the Swiss franc we should expect short term appreciation, but it is rather doubtful if the pair will manage to reach the pattern's resistance uninterrupted. Main sources of such doubts are the Stochastic indicator in the short and medium term
JPY as foreign currency denominating pairs have been appreciating for quite some time. As a consequence, appearance of the channel up pattern was rather anticipated. Technical indicators suggest a calm, even a sideways development of the pair in the short and medium term. Current market sentiment (72% of open positions long) and long term technicals, however, point at the pairs
Since Jun 21 EUR/PLN has been consistently respecting the converging trend-lines, forming the triangle on a 1H chart. Considering that this pattern implies continuation of a major move, we expect an eventual break-out to the upside; however, for now the resistance at 4.3565 holds and in a very short term is unlikely to give in. Still, daily indicators are bullish,
Despite the fact that the pattern is only 33 bars long, both trend-lines forming it proved to be reliable in defining fluctuations of GBP/NZD. Just now the pair has encountered an up-trend support at 1.9544, meaning that it is expected to recover up to 1.9761, where the upper boundary of the pattern should be hit along with the daily R1
Despite the recent rebound from the pattern's resistance pair is facing significant upside pressure in the short and medium terms. It is so indicated by the short and medium term technical indicators. In addition to this current market sentiment is strongly bullish—73% of all open positions are long on the pair. Pending orders do not suggest any comfort for the
For some time now pair has been trading in a 0.940-0.950 cent range and is likely to continue doing so in the short term. It should hit pattern's support and, as indicated by the medium term technicals, bounce from it. In the long term, however, pair seems to be likely to return trading sideways. Range trading, both in the short
After a rather noisy trading period in the middle of June, it seems that pair has returned to a relatively calm pace of developments. In addition it seems to be following the pattern rather nicely as well. After a recent bounce from the pattern's support we have seen almost only a constant appreciation. Thus, a bearish correction suggested by the
Pair has been developing in the frame of a rising wedge pattern rather well. There was a noisy period yesterday, but after a pullback pair returned in to the pattern's zone. It is worth mentioning that the gap between the pattern's support and resistance narrows by 450 pips in 100 bar period. Current market sentiment is strongly bearish—72% of all
A 201-bar long Channel Down pattern was formed by CAD/HKD in the beginning of May. At the moment of writing the pair was traded at 7.400, almost in the middle of a trading range. As aggregate technical indicators do not give a clear "buy" or "sell" signals, the pair is likely to be driven by market sentiment, which is strongly
During the last trading week we were observing an appreciation the Aussie versus the Swiss Franc. The pair is changing hands at the level, which is represented by the lower trend line, so a penetration of this line should be kept in mind. Even though the market sentiment is bullish (72%), the majority of aggregate technical indicators are sending "sell"