The breakout out of the descending triangle pattern did not occur to the downside.
Contrary to expectations, an impulse given by the combined resistance level formed by the upper-channel line and the 20-, 55- and 100-hour SMAs was strong enough to throw the currency pair through the monthly PP at 0.7247, the bottom trend-line at 0.7239 and the weekly S1 at 0.7238 one by one.
In line with prognoses, the USD/CAD ended yesterday's trading session slightly below the weekly PP located at the 1.2918 level.
Movement of the AUD/USD in the first half of Tuesday indicates that the currency pair acted in accordance with one of the scenarios described yesterday.
The common European currency is continuing to surge against the Japanese Yen in a rising wedge.
The yellow metal continues to trade in accordance with the descending channel pattern, as the commodity price bounced off the support of the channel on Monday.
The US Dollar was trading in a small range against the Yen on Monday.
Bears prevailed on Monday's session, pushing the Sterling below the monthly PP at 1.2883.
As it was expected, the EUR/USD currency pair has continued to trade near the 1.14 mark.
Contrary to prognoses, the NZD/USD has unexpectedly stuck near the upper trend-line of an active descending channel.
Contrary to expectations, the downside momentum was strong enough to drive the USD/CAD though the potential second confirmation point of a junior descending channel.
The possible movement of the AUD/USD projected on Friday has been confirmed.
The way the EUR/JPY moved in the end of the previous week clearly indicates that it went outside both preceding junior ascending channels and took a goal to test the updated weekly R1 at 130.69, which is accompanied by the monthly R1 at 130.72.
The yellow metal has declined once more to the lower trend line of the long term descending channel pattern.
Following the hourly surge on Friday morning, the US Dollar lost its strong upside momentum against the Yen and continued to trade with moderate gains.
Despite technical indicators being bullish on Friday morning, GBP/USD plunged 98 pips within couple of hours mid-session.
The common European currency bounced off a long term descending channel's resistance line against the US Dollar.
Contrary to other major currency pairs, the NZD/USD was not affected by release of a set of the US macroeconomic data at 12:30 GMT.
In line with expectations, the USD/CAD broke though the upper trend-line of a descending channel yesterday.
The Australian Dollar was trading against the American Dollar in a descending triangle.
In the first hours of today's trading session an unexpected 50-pip large green candle threw the currency pair out of an ascending channel.
Due to a rebound that occurred on Friday morning, the borders of the previously discovered ascending channel pattern on the hourly chart of the yellow metal can be adjusted.
On Thursday, USD/JPY failed to form a distinctive trend either direction, thus remaining in the 112.90/113.44 range the whole trading session and being supported by the 100-hour SMA.
Positions Today Yesterday % Change Longs 58% 61% -5.17% Shorts 42% 39% 7.14% Indicator 4H 1D 1W MACD