The yellow metal is simultaneously in three various channel patterns on the four hour chart. On a larger scale the bullion is in an ascending channel pattern, in which the metal has been since January and which has been discussed for a long time. On a medium term time-frame there is a channel down pattern, which moves gold from the
A rising wedge holds EUR/GBP movements in the hourly chart, implying bearish potential in the nearest future if 0.8465, the bottom trend-line, is breached. The pair will try to erode 0.8440, the 200-hour SMA, and a break below would expose the 0.8423 demand level. What makes levels beneath 0.8379 unattractive is the major buying pressure stemming from the bottom two-month
Silver could extend its advance, following an upward breakout from the symmetrical triangle it established late August. The pair is currently in what seems like a consolidation phase just below the triangle upper trend-line, and we expect it to surge towards the 100-hour SMA at 19.13 with a hitch at the 55-hour SMA (19.04) which capped the outburst in the
The New Zealand Dollar is another currency, against which the Euro is gaining ground. The situation is almost identical to the breakout out of a triangle on the EUR/CAD pair. However, the common European currency confirmed once more the triangle's support line before the breakout occurred. At the moment, the currency exchange rate is in the middle of a support
For the past weeks the Euro has formed an ascending channel pattern against the Canadian Dollar. The pattern is the result of a breakout from a triangle pattern, in which the currency exchange rate is on a much larger scale, as the triangle can be clearly seen only starting with the daily chart. At the moment, the common European currency
USD/CAD took a bullish stance over the last week or so, just to fall into a rising wedge which is now building up bearish sentiment to trigger a sell-off after the bottom trend-line is breached. The pair has showed signs of a channel up as well, which could mean a prolonged bullish phase. However, strong resistance at 1.32 implies that
Following a break out of the monthly bull-trend, which could be a road through a two-year channel the pair has returned into after breaking the downtrend, GBP/JPY organized itself into a falling wedge. Just moments ago the rate executed a bullish breakout, suggesting that the senior pattern is indeed still in play, and the pair is about to target the
The US Dollar is depreciating against the Swedish Krona in the short term in a descending channel pattern, as the currency exchange rate approaches a larger scale pattern's support line. The long term pattern is an ascending channel. At the moment, the currency pair is being stopped from falling by the 100 and 200-period SMAs together with the weekly PP
The common European currency is surging against the Australian Dollar in a channel upward pattern. However, the whole channel is an expected move in accordance in a descending triangle pattern on a larger scale. If the short term pattern remains valid, it will begin a breakout of the triangle to the upside. On the other hand the channel could confirm
CHF/SGD is in the middle of a battle amongst various trend-lines, both bullish and bearish ones. A 13-year upward sloping trend-line has proved dominance in the long term, while 2015-2016 caught on some bearish momentum, which is now going against the senior bull trend as well as the two-month uptrend, complemented by an ascending channel in the hourly chart. We
A descending triangle has kept AUD/NZD from diving right away, causing it to consolidate before dipping to April 2015 lows at 1.0035 with a few intermediate supply zones on its way. A move south will be assisted by various time-frame SMAs which will push from the upside to the critical 1.0269 level which corresponds to the lower triangle trend-line. The
The common European currency is surging in the short term against the Singapore Dollar in a channel upward pattern. In the meantime, on a larger scale it can be seen that the currency exchange rate is breaking out of a descending triangle to the upside, as the triangle's resistance line has been passed. However, the break out seem to be
The Pound is in an ascending channel pattern against the US Dollar, as the currency exchange rate surges in the borders of a descending channel pattern on a larger scale. At the moment, the currency pair is approaching the short term pattern's support line at 1.3250. However, the pattern's lower trend line is not supported by any other support levels,
HKD/JPY has expressed weakness over the last year, containing its movements neatly in a channel down, which we do not expect to be breached just yet. Hovering just beneath the 55-day SMA, the weakness is currently held by support at 13.0587, 2014 lows, and a break below would trigger a sell-off until 12.2162 is reached, painting the technical picture even
A descending triangle has been directing the movements of GBP/NZD for two months already, implying downside potential for the currency pair. Currently on its way towards the upper trend-line of the triangle pattern at 1.8200, the rate is expected to dip in the nearest future, breaking the bottom trend of the pattern at 1.7739. If the pattern holds for now,
The beginning of August served as a starting point for the descending triangle pattern that AUD/CHF has been following until this point. On its way down to bounce from the bottom trend-line of the triangle at 0.7287, the pair has gained strong short-term bearish momentum, implying that a breakout from the pattern could come rather sooner than later. If the
The Euro is another currency, which has formed an ascending channel pattern against the Swiss Franc. At the moment, the currency exchange rate is in the middle of its way to the pattern's upper trend line, as it rebounded against the channel's support line at 1.0897 on early Thursday morning. The currency pair already did the hardest part of the
The Aussie is trading against the Singapore Dollar in a short term channel up pattern, as the currency exchange rate simultaneously is in another channel up pattern on a larger scale. The short term channel is the currency pairs rebound against the larger scale pattern's support line and the sub sequential surge of the rate. Just recently the pair reached
A half-year ascending wedge implies a bearish trend for AUD/USD, as the pair recently gained downward momentum and broke the lower trend-line of the pattern. Currently, the rate has completed a rebound from the broken line, giving reason to believe that the dip will continue and 0.7464 will be targeted next. If the pair is successful in breaking through this
A broadening descending wedge as well as a channel up has been developed early September, causing USD/NOK to dip 3.5 percent in total. The rate has currently broken the upper trend-line of both patterns, partially due to dissatisfying European data. A strong bullish signal by the 55-period and 200-period SMA crossover in the 30 minute chart suggests that the pair
The Canadian Dollar is simultaneously in three channels against the Swiss Franc, of whom two are ascending channel pattern's short term and medium term. Moreover, on a larger scale the currency exchange rate is slowly but steadily depreciating since the unpegging of the Franc from the Euro on January 15. At the moment, the currency pair is trading near the
Silver just recently formed a descending channel pattern, as it recently confirmed for the third time the pattern's upper trend line. This pattern started forming on at the start of July, when the metal broke out of the previous large scale channel down pattern. In accordance with the pattern the commodity is set to move lower. However, aggregate technical indicators
CHF/JPY movements have been limited by the symmetrical triangle trend-lines since June already, and the pair's location in the pattern suggests a break below the bottom trend-line should appear rather soon. Additional bearish pressures are put by the channel down that dominates the overall trend on the weekly time-frame. Currently situated by the upper trend-line of the channel, after confirming
The ascending channel CHF/SGD has developed shows no signs of weakness, suggesting that the uptrend will continue. The 200-period SMA has crawled underneath for the first time in two weeks, putting further pressure onto the currency pair. We expect a dip towards the lower channel trend-line at 1.3855 over the next couple of days, before inching higher inside the bounds