Several patterns have guided the AUD/SGD exchange rate during the past few weeks.
EUR/SEK was trading in a four-month ascending channel prior to breaching this pattern to the downside on Wednesday.
The price movement of the CHF/JPY exchange rate has been constrained by a dominant descending pattern.
The Canadian Dollar has been trading in two different directions against the Japanese Yen. The most important of which is the junior ascending channel which has guided the price movement up.
After testing the upper boundary of a long-term channel for a couple of weeks, the US Dollar picked up significant force late in April, dashed through its upper boundary and the 55-, 100– and 200-period SMAs and skyrocketed up to the monthly R2 situated near the 3.62 level.
AUD/CHF has been trading in two dominant patterns, namely, an eight-month descending channel and a junior channel which formed in early February.
The Australian Dollar has been constrained by a two-month descending channel against its Canadian counterparts.
The Australian Dollar has been trading in a medium-scale triangle pattern against the New Zealand Dollar.
The US Dollar's movement against the Russian Ruble has been guided by several patterns, the most senior of which is a four-week descending channel.
The New Zealand Dollar has been trading in a two-month descending channel.
The common European currency has been losing strength in a descending channel against the Canadian Dollar during the past three-month. This is considered to be a retracement from the upper boundary of a senior channel.
The British Pound has been trading in a channel down against its Canadian counterpart since March 20. During this period of decline, the currency pair has reached a three-month low level.
The US Dollar recently met with dominant resistance against the Turkish Lira just below the 4.30 mark. Due to that reason Forex market participants can expect a decline of the rate in the medium and short terms.
After failing to pass the resistance of a long term ascending channel pattern, the USD/SEK has been declining in the short term. However, that move has ended and brought market participants new information.
The common European currency has been trading in several patterns against the Australian Dollar.
The British Pound has depreciated substantially against the Australian Dollar during the past one week. This bearish momentum has pushed the currency pair towards the lower boundary of a dominant ascending channel.
ZAR/JPY's movement during the past three weeks has been bounded by a descending channel.
Upside momentum has driven the SGD/JPY exchange rate since mid March.
During the past three weeks, the New Zealand Dollar has depreciated substantially against the Japanese Yen.
The British Pound has been constrained by several patterns against the Japanese Yen. The most important of which is a junior descending channel.
EUR/TRY was dominated by bearish momentum following a test of the senior channel near 5.15 on April 11.
Strong upside potential has been guiding USD/SEK since mid-April.
The Loonie has been moving in a descending channel against the Japanese yen since January. The exchange rate neat movement in this downtrend was interrupted in March when a U-turn north occurred after reaching a support level near the 80.06 mark.
The bullish momentum that began mid-February has guided the USD/CHF exchange rate towards the upper boundary of a dominant ascending channel.