One of the many currencies, which have formed patterns against the Japanese Yen in the recent trading sessions, is the Euro. The EUR/JPY currency pair is surging in a channel upward pattern on a short timeframe, as the rate remains in a descending channel on a larger scale. The channel upward pattern can be used to predict, how the currency
The Swiss franc is gaining strength against the Japanese Yen in a rising wedge pattern, as the currency exchange rate is surging to another pattern's upper trend line. On a larger scale the currency pair is in a channel down pattern on the weekly timeframe. Moreover, the pair has just recently broken out of a triangle patter, and the resulting
Located in the middle of the superior two-year descending channel, AUD/JPY has set its way towards the upper trend-line with the help of an inferior upward channel. The junior pattern has been developing for more than a week now, and it gives little reason to doubt its strength until the top senior trend-line takes over. 55, 100 and 200-period SMAs
The daily chart shows the US Dollar outperforming the Turkish Lira in an ascending channel pattern. The channel has been present since March, and the pair might find enough support in the 100-day and 200-day SMA cluster to sustain the bullish trend for now. Currently the rate has lost volatility and entered a narrower channel, and then another even tighter
The US Dollar is surging in an upward channel against the Polish Zloty, as the currency exchange rate is approaching near the pattern's lower trend line, which it most likely will hit at around the level of 3.9120. However, at the moment the pattern's support line is located lower at 3.9030, and the currency exchange rate is not falling to
The common European currency is trading in a channel down pattern against the Turkish Lira, as the currency exchange rate is slowly moving lower. The downward movement to the pattern's lower trend line is due to the low volatility of the pair, which has resulted in various support levels being located on its way to the 3.2500 level. Weekly S1
AUD/CHF rose two percent over the last 12 days, establishing a decent uptrend that we do not expect to be broken in the nearest future. With the help of the 200-period SMA, the pair will be pushed higher – a forecast backed by the symmetrical triangle it has just broken as well as an upward channel established on the way
While GBP/CAD has been upholding a strong northward trend-line, recent movements sketched a boundary from the upside as well, creating a symmetrical triangle pattern. With a breakout from the pattern two days ago, the pair affirmed the trend, continuing its way up. A new, steeper uptrend has been developed, implying that the pair could surge in the short-term. On a
As the US Dollar gains strength after Janet Yellen's announcement of a possible increase of the Federal Reserve's rate, the Greenback is trading in a channel up pattern against the Danish Krona. The currency exchange rate is moving in a very thigh range, as the channel is only 200 pips wide, which is not much for this pair. Recently the
The Canadian Dollar is trading in an ascending channel pattern against the Japanese Yen, as the currency exchange rate is trading in a very close range of the pattern's support line. A surge of the rate to the pattern's resistance is hindered by the August high level at 78.80, which is strengthened also by the weekly R1 at 78.8507. In
Just days ago USD/HKD managed to break the half-year descending triangle, maintaining strong resistance at 7.7532. We expect the pair to rally over the next few months until it reaches the 200-day SMA at 7.7657 encountering intermediate resistance at 7.7602 on its way. The rate has not been successful in its attempt to conclusively leap away from the top trend-line
The symmetrical triangle formation that the EUR/AUD has developed over the last two and a half months has been the consequence of an upward breakout from the half-year triangle. The currency pair failed to follow a traditional scenario, where it would be expected to rally towards the 200-period SMA after a rebound from the significant top trend-line of the broken
The New Zealand Dollar has formed a rectangle pattern against the Canadian Dollar, as the rate is moving in the middle of the pattern at 0.9433. In the meantime, the currency exchange rate is also in an ascending triangle pattern on the daily chart, and the triangle pattern shows, that the rate is set to have a break out of
The Australian Dollar is in a channel up pattern against the Japanese Yen, as the currency exchange rate just recently rebounded against the pattern's lower trend line at 77.20, which I support by the 23.60% Fibonacci retracement at 77.23. This movement upwards is also consistent with the larger scale channel down pattern on the daily chart, in accordance with which
While an ascending channel has directed AUD/USD movements for the last four months, the multi-year channel down is likely to prove its dominance in the nearest future, implying a downtrend for the pair. The rate has just touched the upper trend-line of the weekly channel, implying a plunge towards the bottom of the pattern as well as a breakout from
While a symmetrical triangle pattern seems to signal a bearish environment for the pair, EUR/GBP is more likely to surge because of the strong bottom trend-line. The currency pair has developed an uptrend since mid-2015and it can be expected to continue after the triangle is broken. In the short-term, an upward breakout is more likely as well, although uncertainty emerges
A rising wedge suggests that the bullish trend is becoming weaker in USD/CHF, and a trend reversal can be expected during 2017. The pattern has been forming since 2011 and the pair has surged 30% while bound by it. For now, if the wedge holds, on its way towards the upper trend-line the pair will face significant resistance at 0.9947,
As the US Dollar appreciates against the common European currency, the currency exchange rate has formed a descending channel pattern. The rate recently hit the pattern's lower trend line and it is showing signs of a rebound. However, the currency exchange rate previously fell from the pattern's resistance line not due to the fact that the trend line forced the
The US Dollar is in an ascending channel pattern against the Russian Ruble, as the currency exchange rate is moving to the pattern's upper trend line. Previously, the rate rebounded against the pattern's lower trend line at 63.6280. On its way to the pattern's upper trend line the pair is set to struggle against various resistance levels, as all of
EUR/USD has failed to stay inside the bounds of an ascending channel pattern it had been forming since the beginning of July. The pair plunged more than one percent over the last trading session, but is yet to break support at 1.1180 where August 16 lows lie. There is reason to believe that the rate will continue its way south
The USD/CHF currency pair has just broken the falling wedge pattern it has been following since the last week of July, implying that a trend reversal is likely to take place. Ahead of a rally towards the 0.9841/51 level, the pair will bounce from the top trend-line of the wedge at 0.9689. The bottom trend-line of the upward channel formed
In its movements and almost flat fluctuations the yellow metal has formed a only recently noticeable channel down pattern, as the metal rebounded against the pattern's lower trend line at around the level of 1,318. The pattern's lower trend line is also supported by the second weekly support line at 1,320.91. On the way to the pattern's upper trend line
The Euro has formed an utmost interesting pattern against the Swiss Franc, as it is at the same moment in the middle of two of them and they both confirm the same way for the currency exchange rate to go. What you can see in the added chart is the ascending channel pattern, which at the same time is in
The upper-trend-line of a symmetrical triangle has been broken by the EUR/HKD currency pair, implying the continuation of a bullish trend towards the 4 hour channel top trend-line. The rate lies currently at 8.7620, a level attained just moments ago after experiencing a significant hike upon the GfK German Consumer Climate data announcement - an unusual reaction to data entirely