USD/CHF appears to be forming a falling wedge pattern on the daily chart as part of the movement away from the high of 1.0301, and might be thinking of launching a second attack at the area soon. For now, however, the main concern is a channel down pattern on the hourly time-frame which is peacefully leading the pair to the
A large-scale channel down pattern failed to contain NZD/CAD on the daily time-frame, leading to a takeover by a junior ascending channel on the hourly chart. The pair overstepped the senior line twice, and was sent packing both times at the same level of 0.9497. The double-tested area has now lead to the formation of a symmetrical triangle pattern which
The Australian Dollar is trading in a rising wedge pattern against the Canadian Dollar. Simultaneously the currency exchange rate is in a large scale descending channel pattern. However, due to the fact that the wedge's trend lines cross one another before reaching the upper trend line of the dominant pattern, it is possible that the wedge reveals the first move
The Canadian Dollar is trading against the Swiss Franc simultaneously in two descending channel patterns. The junior pattern is a representation of the currency exchange rate's bounce off from the resistance line of the dominant channel down pattern. Meanwhile, the currency exchange rate is also affected by the Fibonacci retracement levels, which are measured by connecting the 2016 high levels
A double top resulted in a smooth downfall within the bounds of a descending channel pattern on the daily time-frame. The pattern has been holding strong and is most likely to experience another confirmation as a rising wedge emerges on the hourly chart. The pair has just tapped at the upper trend-line of the pattern and is expected to slip
EUR/SEK climbed its way steadily away from the 2017 low at 9.4189 which was tested on January, but the motion might now be endangered as a rising wedge has upped downside risks. The pair has most recently tackled the upper trend-line of the pattern and should move towards the bottom bound around 9.6339 in an almost flat motion. After experiencing
Recent developments on the USD/SEK currency exchange rate have pressured for a review of the currency pair's forecast. The pair reached the upper trend line of a medium term descending channel, and as a result of that a short term channel down pattern was formed. The short term pattern has lead the pair through the support of the 38.20% Fibonacci
The recent rebound of the Euro against the US Dollar was caused by the lower trend line of a large scale ascending channel pattern. As a result of that a medium term ascending channel has formed. The channel is aimed at the resistance of the 38.20% Fibonacci retracement level, which is located at the 1.0828 level. The Fibonacci retracement levels
GBP/NZD tested 1.6763 twice on the daily time-frame, sketching what could be seen as a double bottom formation with a neck-line at 1.7959. After a channel on the four-hour chart led the pair up towards the area smoothly, this week's volatility in the Pound market gave a nudge to easily soar over the critical area. The pair tapped and slightly
EUR/CHF has been forming a descending wedge since the beginning of 2016 on the daily chart, and is now making its way towards the bottom boundary of the pattern, but might be up for a demand as another falling wedge emerges on the hourly chart. The pair has just slightly overstepped the upper trend-line of the pattern already, meaning that
The recent developments on the USD/PLN currency exchange rate have demanded for a reevaluation of the rate. A previously active medium term ascending channel pattern has hit the resistance of a dominant descending channel pattern. Due to the result bounce off from the resistance line, the currency exchange rate has revealed the borders of another ascending medium scale channel. The
The common European currency recently has formed a symmetrical triangle against the Polish Zloty. Most recently the tip of the triangle has moved below the 50.00% Fibonacci retracement level, which is located at the 4.2569 level. Due to that factor a breakout is expected, and because of the strength shown by the retracement level, it is expected that the currency
A double top on April 9 proved its presence by inducing a solid downtrend on the hourly chart, but leading to a build-up of bullish potential in a flattened channel up pattern. The pair is trading in the middle of the formation and making its way towards the upper trend-line around 1.4000 where we expect it to bounce off and
SGD/JPY has been showing inconsistencies in the way it left the 82.08 annual high, with a channel, then wedge and lastly a falling wedge on both the daily and hourly time-frames. The pair is now trading near the upper trend-line of the hourly pattern and might be launching a second attack on it, meaning that the resistance might be at
Due to the US Dollar recently encountering the 200-period SMA on the four hour chart against the Russian Ruble, the currency exchange rate has formed a medium term descending channel pattern. However, the change of direction was also consistent with various fundamental events in the middle of March. The descending channel pattern is aimed at the lower trend line of
The Greenback is declining against the Norwegian Krona on the hourly chart in a descending channel pattern, which, as indicated by various clues, is about to become obsolete. The channel has reached the support of a long term up-trend line, which has supported the pair throughout 2016. Moreover, the support line is also strengthened by the support provided by the
A small-scale channel up pattern on the hourly chart led NZD/CAD out of the senior falling wedge on the daily time-frame, suggesting that risks should be skewed to the upside in general, but a retracement is potentially due before a confident rally extends. The hourly time-frame, however, suggests that the correction has already taken place, meaning that the upper bound
GBP/CHF has entered a consolidative phase on the daily time-frame, and is trading in a triangle which suggests that the previous down-trend might prevail. The pair has reached the upper trend-line of the pattern and is showing the expected downward potential on the hourly chart among several other time-frames by sketching a rising wedge. We will look for the cross
The Euro is trading against the Hong Kong Dollar in a descending channel pattern on the medium scale. However, the currency exchange rate recently met with the lower trend line of a dominant ascending channel pattern and rebounded. Due to that it is most likely that the currency exchange rate is going to break through the resistance put up by
Although the common European currency is in a long term descending channel pattern against the Norwegian Krona, the pair is in the process of forming a new junior ascending pattern. Recently the currency exchange rate found support in the lower trend line of the descending channel and rebounded against the 9.0810 level on April 13. Afterwards, the rate suddenly bounced
CAD/CHF is displaying a set of interesting development on the weekly chart – starting from a trend-opposing ascending triangle and ending with a continuation-signalling symmetrical triangle formation. The pair appears to have been trying to reverse for a while now, setting several patterns and attempting to form a head and shoulders, which then turned into an indistinct trading range. While
GBP/JPY has set a strong downward trend-line to guide it away from 147.45, the December 2016 high. The pair has additionally formed a falling wedge on the hourly time-frame, meaning that the trend-line might be luring it closer again. The cross is trading mid-pattern with risks skewed to the upside until 136.16, the upper boundary of the pattern. A set
After an unsuccessful attempt at forming a head and shoulders pattern at 0.9125, EUR/GBP entered a correction phase with distinct waves on the weekly and daily time-frames. The recent developments, however, show some bullish potential again on the hourly chart, suggesting that another solid wave might be coming up. The pair is currently on the edge of the pattern at
As the US Dollar depreciates against the Mexican Peso in a descending channel pattern, there have been some new developments, which have pressed for the need of a review of the currency exchange rate's movements. A junior descending channel pattern has reached the upper trend line of a dominant channel down pattern. As a result a bounce off is expected,