From the most recent developments in GBP/AUD it follows that the currency pair is inclined to keep advancing north. The emerging triangle is expected to be broken to the upside, and in this case the target will be a supply area between 2.0930 and 2.0960, where the weekly R1 is joined by the Nov 27 high. However, we should note
Since the second decade of November the Aussie's upward movements have been frequently changed by sideways development. Current phase is the horizontal trend between 0.9840 and 0.9730. As soon as the pattern's lower edge is touched, we expect another up-leg to commence and refresh the pair's bullish status. Both weekly pivot point and 55-period SMA are going to support the
The Pound is testing an important support in the 2.2609-2.2576 range, which consists of the weekly and daily pivot points, 100 and 55-hour SMAs. The cross had no issues in crossing the similar area earlier on Monday, meaning we can estimate the sell-off to succeed. It is worth pointing out that 1H and daily technical indicators are giving signals to
USD/JPY has been trading between two parallel horizontal lines for four full weeks now, and for the time being there is not much evidence that there is going to be a break-out in the nearest future. The risks, however, are considered to be skewed to the upside. Even though the technical indicators are currently mixed, the US Dollar is heavily
USD/TRY is currently trading at the upper boundary of the channel, implying we are likely to see a bearish correction before the bulls regain control of the pair. The price is expected to bounce off of 2.92 and fall until it meets the lower boundary of the pattern at 2.89. However, there are also plenty of arguments against the immediate
We expect the demand for the Kiwi to resume shortly, as we are approaching a substantial cluster of support levels in the area between 0.8943 and 0.8920. This demand consists of the weekly pivot point, daily S1 and 100/55-hour SMAs. Judging from medium and long-term technical indicators, a recovery of NZD/CAD is quite likely to take place in the next
A spike on Thursday, caused by the ECB, failed to heat up any additional demand for the US currency. USD/TRY was required to consolidate above the 200-hour SMA, in order to affirm bullish expectations within the channel up pattern. Bears, however, quickly pushed the currency pair back to the south. Now it is developing along the pattern's lower edge for
Assuming that EUR/TRY is in fact trading between two rising parallel lines in the monthly chart, the pair is to preserve bearish momentum for the next 3-4 months, until it reaches the lower boundary of the channel. The price is expected to bottom out near 2.80 and then resume the long-term recovery. However, the fact that the market is already
Being unable to recover past 2.3660 GBP/NZD turned around and is now in a distinct down-trend. The current upward correction within the channel is to stop at 2.26 (weekly PP and falling resistance line) and to give way for a new bearish wave with the objective at 2.2150, a solid demand level created by the lower boundary of the channel
AUD/SGD has once again confirmed topicality of the bullish channel by rebounding from the rising support line at 1.0230. The target is therefore the monthly R1 at 1.0318, but the rally is unlikely to stop there, it is expected to extend to the upper boundary of the pattern, namely to 1.04, where it is reinforced by the August high. However,
USD/NOK confirmed the double top pattern yesterday, and now the sell-off is expected to extend significantly further to the downside. On the way down, the weekly S2 was crossed, which had offered support for the pattern's horizontal trend-line. Moreover, we observed a breach of the 200-period SMA. Now the pair is trying to deal with the monthly S1 at 8.51. A success here will imply a drop in the direction of
AUD/SGD has just met a crucial support, which guards the pattern's lower boundary and is now represented by the weekly pivot point and daily S1 at 1.0199/88. There are bearish signals coming from both the technical indicators and distribution between bullish and bearish open positions in the SWFX market. 1H and 4H studies are pointing to the south. On top of that, three out of four SWFX traders are long on
There are almost no reasons to be bullish on the Sterling at the moment. GBP/NZD has just bounced off of the upper edge of the descending channel, and the nearest significant demand area is only at 2.2430, created by the weekly S3 and October low. However, a rally is expected to start lower, near the lower trend-line. At the same
As things stand now, silver is likely to keep losing value. Any near-term rallies are to be limited by the upper boundary of the emerging channel at 14.30, while the key support is at 13.90, represented by the falling support trend-line, Nov low and weekly S1. If this demand level is broken, the next target should be 13.45, namely the
A rectangle pattern for the GBP/JPY cross implies that the Sterling is going to continue tumbling against the Japanese Yen in the long run. The current phase of the pair's development has a negative slope. Several crucial supports have just been violated including the monthly and weekly pivot points, 100 and 200-period SMAs. They are highly likely to provide the
The US Dollar may get a chance to recover against the Lira in the nearest future, even though the cross dipped below the pattern's lower edge on Thursday. On the side of the bears, 1H and 4H technical indicators are pointing downwards for the moment. On top of that, there are many important resistances ahead of the spot, especially in
The Euro is being sold off across the board, and EUR/NZD is no exception. In addition to the pair following the lead of two falling parallel lines, the four-hour and weekly technical indicators are pointing south. During the next few days, however, the single currency may outperform Kiwi, being that the exchange rate is currently fluctuating right at the lower
The outlook on EUR/AUD is bearish. The currency pair is trading within the descending channel, and the Euro is still overbought (71% of open positions are long) despite two months of the sell-off. The near-term gains are to be limited by the falling resistance line and weekly S1 at 1.46, while the target is a cluster of the lower trend-line,
USD/ZAR is experiencing difficulties in breaching the high of November 16 at 14.4430. This mark has been shortly crossed for several times this week, but the bears are now taking the lead over the bulls. The major support is expected to come from the cluster of important demand levels in the area around 14.2687/ 14.1831. There the Dollar is going
The Australian Dollar has been growing rapidly since the middle of November, but the cross is going to meet a major resistance soon. Therefore, a correction is possible in the medium term after the initial continuation of the rally up to 0.7365, namely the pattern's upper boundary and daily R1. Daily technical indicators support the pair's advance in the next
USD/CHF has recently tested water above this year's maximum, and the next prominent high is as far as 1.1730, represented by the highest level since 2010. In the short run, we expect the price to rebound from the weekly PP at 1.0260 and test the upper trend-line of the channel at 1.0450. The bullish outlook is reinforced by the daily
The risks are heavily skewed to the downside for USD/CAD. First, the price is approaching a tough resistance level represented by the September high. Secondly, the pair is forming a rising wedge, a pattern that is often followed by a sell-off. The point against such a scenario is the SWFX sentiment, being that the bears already take up 60% of
Quality of the present bullish pattern has been improving over time. AUD/SGD has recently managed to bounce off the lower boundary of the channel at 1.0160 and is now building another up-leg. The nearest supply, however, is placed relatively close to the current spot price. It consists of the monthly R1 and weekly R2 at 1.0313/19, which are guarding the
The Swiss Franc has been under heavy bearish pressure since the middle of November due to concerns over extra stimulus from the SNB. The Aussie managed to benefit from this situation and pushed AUD/CHF strongly upwards. The pair will shortly encounter the weekly R2 at 0.7519. In case it fails to penetrate this important resistance, we will expect the Australian