Despite the noisy trading period some week ago pair is developing in the ranks of a channel down rather well. We might see some short term rallies (as indicated by the 4H technicals), however, daily and weekly technicals point at a further depreciation of the pair suggesting it is rather likely to maintain bearish trend. Some worries might be coming
For the past 2 and a half months pair has been narrowing its trading range (by approximately 50 pips in 100 bar period). At the moment it is trading somewhere around third of the pattern's length left till the triangles apex. Although pair has bounced from the pattern's support and it would be about time to breach the pattern, technical
Formation of this channel up is the currency pair's second attempt to surge from a low of 91.81 reached on Jun 13. A previous rally failed to extend beyond 95.13 (Jun 20 high)—a level that may again prevent prolonged appreciation of the Canadian Dollar relative to the Yen. Moreover, traders' sentiment is strongly negative at the moment, being that 74%
Although USD/SGD has been trading in this bullish channel for 270 hours, right now it is threatening to breach the lower boundary of the pattern at 1.2648 last tested on Jun 19; the 200-period SMA has already been violated. Additional tough supports in case of more bearishness are to be found at 1.2619 and 1.2567.In the meantime, 4H and daily
A Descending Triangle pattern formed by GBP/CHF on the April 17 is moving closer to its apex, as both trend lines will converge on July 15, therefore some significant movement can be expected. Even though technical indicators on aggregate are not univocal and sending mixed signals and market sentiment is just slightly bullish (59%), the pair can be very profitable
A rare Double Top pattern was formed by EUR/NZD more than 2 months ago. At the moment of writing the pair was trading at 1.666, level represented by a 23.80% Fibonacci Retracement.As the market sentiment is slightly bearish and aggregate technical indicators on 4H chart are sending "sell" signals, a movement to the support line can be expected. In case
Despite the fair share of fundamental events related to the USD which cause significant amount of the noise in the market pair has been developing rather neatly in the ranks of the Channel Up pattern. After a recent rebound from the pattern's resistance which at the same time was the pairs 30 month high it is moving towards the pattern's
After a few noisy periods in the market it seems that the pair has returned to a more or less normal pace of the development. From the recent developments it seems that the pair ahs reached its new relative low therefore pair further appreciation, as suggested by the short term technicals, becomes even more likely. In addition to this,
Following a failure of the 200-period SMA to underpin the currency pair after a protracted rally that extended up to 1.3417, EUR/USD started to fluctuate between two bearish lines. If the price is subject to either a sharp surge or a decline in the nearest future, they will be encountered at 1.3048 or 1.2971 respectively.Judging by the technical studies that
Considering that USD/ZAR lately has been posting lower peaks and higher valleys, it has formed a triangle on a 1H chart. For the time being it is unclear whether there is going to be a bullish or a bearish break-out—at the moment technical indicators stay largely silent. On the other hand, 70% of market participants believe the U.S. Dollar will
Comment: Current positioning of the pair and readings of the short term technicals suggest that pair is likely to advance above the pattern's resistance at 127.95. Medium term outlook, however, remains negative suggesting that pair is still facing significant downside risk, is likely to rebound from the pattern's resistance and to follow its', bearish, trend. In the long term pair
For more than 57 hours already CHF/SGD has been trading within two falling trend-lines, meaning it has formed a channel down. However, we must note the differences between the boundaries of the pattern. The upper edge is more reliable than the lower one, as it was tested more frequently. Accordingly, we are able to estimate subsequent the levels of the
Dukascopy Trade Pattern Ideas for AUD/USD (Channel Down), NZD/JPY (Double Bottom), CHF/SGD (Double Top) and USD/HKD (Ascending Triangle) till 15:30 GMT.
Dukascopy Trade Pattern Ideas for EUR/JPY (Descending Triangle), EUR/NZD (Triangle) EUR/HKD (Channel Down) and USD/CHF (Rising Wedge) pairs till 07:30 GMT.
Dukascopy Trade Pattern Ideas for AUD/NZD (Channel Up), EUR/TRY (Channel Up), AUD/JPY (Double Bottom) and NZD/USD (Channel Down) till 15:30 GMT.
Dukascopy Trade Pattern Ideas for AUD/USD (Channel Down) and USD/CHF (Rising Wedge) pairs till 07:30 GMT.
Dukascopy Trade Pattern Ideas for AUD/USD (Channel Down), GBP/AUD (Rising Wedge), USD/ZAR (Channel Up) and NZD/CHF (Double Bottom) till 15:30 GMT.
EUR/JPY has formed a Rising Wedge pattern on the 1D chart. The pattern has 85% quality and 100% magnitude on in the 367-bar period.The pattern started on the 21st of March, 2012, when the pair started depreciating from 11.44; currently it is trading at the weekly pivot (PP) at 128.28; gap between the pattern's support and resistance narrows by 450
Dukascopy Trade Pattern Ideas for USD/SEK (Rising Wedge) and GBP/CHF (triangle)pairs till 07:30 GMT.
Dukascopy Trade Pattern Ideas for USD/CAD (Channel Up), CHF/SGD (Triangle) and CAD/HKD (Channel Down) till 15:30 GMT.
Dukascopy Trade Pattern Ideas for GBP/CHF (Channel Down), CHF/JPY (Channel Up) and AUD/JPY (Channel Down) pairs till 07:30 GMT.
Dukascopy Trade Pattern Ideas for EUR/CAD (Rising Wedge), GBP/NZD (Channel Up), USD/ZAR (Double Top) and EUR/TRY (Channel Up) till 15:30 GMT.
Dukascopy Trade Pattern Ideas for AUD/CAD (Channel Down), CAD/CHF (Channel Down), USD/HKD (Channel Down) and EUR/SGD (Rising Wedge) pairs till 07:30 GMT.
Dukascopy Trade Pattern Ideas for AUD/NZD (Channel Down), EUR/CAD (Rising Wedge), USD/SEK (Channel Down) and AUD/CHF (Triple Bottom) 15:30 GMT.