As recently the US Dollar began a surge against the Russian Ruble in the aftermath of reaching the medium term descending channel pattern's lower trend line, a need for reexamination of the currency exchange rate arises. It seems that the rate rebounded in a short term ascending channel pattern. However, most recently the currency pair reached the upper trend line
Following a 20% year-long surge, NZD/USD exited the channel up pattern to the downside mid-November, and is currently on its way to retrace from the broken trend-line. The pair will immediately encounter 0.7112 and 0.7167, represented by 20-day SMA and monthly Pivot Point before it attacks the targeted area which is strengthened by a cloud resistance. A death cross formation
GBP/USD broke the symmetrical triangle to the upside, and is currently attempting a retracement from the broken trend-line. The rate is elevated by various time-frame SMAs and an Ichimoku cloud from below, meaning that the current downtrend is likely to indeed be a just a retracement and will be cut at 1.2483 where the broken trend-line lies. We will then
USD/PLN formed a double top following the 9.2% November surge. The pair is currently hovering between the daily and weekly S1 and is steadily approaching the neckline at 4.1465 where we will look for signals of what happens next. Technical indicators, such as various SMAs, a red Ichimoku cloud and a cluster of pivot points above the current exchange rate
The Australian Dollar recently rebounded against the combined support level of a 50.00% Fibonacci retracement level and lower trend line of a large scale ascending channel patter against the Canadian Dollar. As a result of the rebound a smaller ascending channel formed, which represents how the rate surges to new heights at least for now. Most recently the currency exchange
Recently the Australian Dollar has been surging against the US Dollar in an ascending channel pattern. Although most recently the markets have been dictated by the strength of the US economy and subsequently the US Dollar than other currencies, the Aussie recently has scored gains against all other currencies. On a larger scale the pair is also in an ascending
Our overall outlook on the Sterling is bullish, but in the short term the currency is likely to lose value against the Franc. Over the last 10 days GBP/CHF has formed a high-quality ascending channel; however, at the moment the price is trading right at the upper bound of the pattern, which implies a downward correction. Accordingly, we expect supply
USD/SGD is in a good spot to rally. The pair has just completed a correction within a 10-day channel, meaning we should see a new bullish wave developing from 1.43. This support is also reinforced by the November 24 low and daily S1. In the meantime, technical indicators in four-hour and daily charts and the fact that the pair remains
The Pound is surging in an ascending channel pattern against the Japanese Yen, as the currency exchange rate has broken out of a long term descending channel patter. However, most recently the pair traded in as broadening ascending wedge pattern, as the rate continued to surge, while actually moving from the ascending channel's resistance line to its support line. The
The Canadian Dollar trades in a rising wedge against the Japanese Yen as a result of a breakout from a more than few years old triangle pattern. However, as the wedge is about to become obsolete, and a new pattern is set to reveal itself, the rate is more affected by something else. There are two notable Fibonacci retracement level
The US Dollar is set to lose value against its Hong Kong counterpart. Apart from the down-sloping channel, bearish sentiment is implied by a breach and confirmation of the long-term moving average. During the next few days the rate is expected to test support at 7.7545/42, which could provide a temporary relief, while next week the Greenback is more
AUD/CHF broke out of the rising channel yesterday, but there are good reasons to believe the pair is simply taking a reprieve before resuming its journey north. The price is currently closing in on the apex of the high-quality symmetrical triangle, and the pattern implies continuation of the up-move that started at the beginning of this week. An additional argument
The fact that the Aussie trades in a broadening ascending wedge against the Singapore Dollar is notable, however, not that important for short term traders. What might interest traders more regarding the pair is the fact that it recently marked new this year high level, as the currency exchange rate touched the 1.0870 level on November 10. This provides an
The common European currency recently ended trading in a falling wedge against the Russian Ruble, as the wedge's lines closed in one on another and additional support was found. The addition support was provided by the October low level. In the aftermath of the encounter of the October low level the currency exchange rate began to rebound and broke through
GBP/CAD entered a ranging market following a slip from November highs at 1.7092. The pair has been approaching the bottom trend-line of the pattern in general, suggesting that the downtrend will be extended and the 1.6672 bottom boundary could be broken in the nearest hours. A slip will be contained between the broken line and the bottom Bollinger Band at
As markets switched risk off, the Canadian Dollar began its way south, appreciating against the safe haven currency inside a channel up pattern. Following two tests of the bottom trend-line, the pair is now approaching 0.7529/31 which it will need to conclusively break in order to extend the bullish market. The next target inside of the channel lies at 0.7542
The single European currency is trading in a descending channel pattern against the Canadian Dollar. However, the channel has a minor flaw in the form of huge volatility to the upside, which was caused by the US Election on November 9. In addition, the channel is approaching this year's low level of 1.4183, which is likely to provide support for
CHF/JPY was led by a strong uptrend whole November, but recently lost volatility and added a downside boundary to build up some bearish potential. The pair tapped 110.07 twice to confirm growing potential for a reversal, and is currently testing the bottom trend-line of the wedge at 109.82. It appears that the pair will execute another wave north, and we
NZD/CHF recently distanced itself from the bottom trend-line of the five-day rising wedge and established a trading range on the middle and upper part of the pattern. The top trend-line is strengthened by a Bollinger Band and should hold the pair below, leading to a downward breakout eventually. A reversal will require strong bearish potential, as the pair will face
The USD/SEK currency exchange rate is one of the many, which in the result of the US presidential election has formed an ascending channel pattern. However, the rate is simultaneously trading in two ascending channels, as the smaller channel is a representation of the pair's rebound against the larger channel's support line. Previous to the US election, the currency pair
The US Dollar is appreciating against the Norwegian Krona in an ascending channel pattern. The channel is the result of the rate breaking out from a descending triangle pattern to the upside. Most recently the currency exchange rate encountered resistance put up by a combination of the 23.60% Fibonacci retracement level at 8.5925 and the July high level of 8.6180.
After exiting the symmetrical triangle in September, USD/CHF kept the uptrend intact, adding an upper boundary to create a channel up pattern. The pair is currently testing the upper boundary at 1.0104, and we will look for a close of the day in the red zone. The pair will test 1.0026 and then 0.9932 on the wave down, with loads
After giving in to the 1.0758 resistance for the third consecutive time, AUD/NZD opened up a downtrend in October 13, and has just put more significance on it by adding the boundaries of a channel down pattern. Even though the latest movements sketch a ranging market, the pair is on its way to test the upper boundary of the newly-formed
EUR/CHF put an end to the downtrend with a double bottom formation at 1.0687. The pair had not attacked levels as low since the Brexit dip and August 2015 before that, meaning that it is highly likely that the neckline at 1.0753 will break. The rate will face the 1.0717/22 cluster of resistances, 1.0738 and then 1.0748 before the neckline