The US Dollar has recently reversed its direction against the South African Rand without confirming the upper trend line of the descending channel pattern, in which it has been since the beginning of January. While moving lower, the currency exchange rate formed a broadening descending wedge pattern, which is aimed to hit the channel's support line in the second half
The New Zealand Dollar is simultaneously in two ascending channel patterns against the Swiss Franc, as the currency exchange rate has confirmed two channel on different timeframes. On the four hour chart the pair is in a short term channel up pattern for the past month, and, in the meantime, on a larger scale the Kiwi is surging against the
While and ascending channel has proven to have decent strength, it is unlikely that NZD/CAD will manage to complete its path towards the upper trend-line 0.9609 as the two and a half year resistance will provide enough supply to cause a selloff. The level will be proven as the neckline of a reverse head and shoulders pattern in case it
After repeated attempts at the channel bottom trend-line, AUD/USD managed to overstep the line on August 26, going on to a traditional retracement to the broken trend-line at 0.7675, where the pair lies now. The multi-year channel top trend-line has been reached as well, implying bearish pressures for future developments until the 0.5945 mark is reached. We expect the
The US Dollar is surging against the Russian Ruble in an ascending broadening wedge pattern, as the currency exchange rate has reached the pattern's support line for the fourth time. However, the trend line has been confirmed only two times up to now, as the rate has had a tendency to change direction before fully confirming a trend line. The
The New Zealand Dollar is surging in an ascending channel pattern against the Canadian Dollar, as the rate recently rebounded against the pattern's lower trend line at 0.9440. Moreover, the currency exchange rate is in an ascending triangle pattern on a larger scale, and the recent movements of the pair have been consistent with both patterns. In accordance with both
Fundamental volatility on September 2 served as a starting point for the falling wedge pattern in which the EUR/USD currency pair has managed to hold inside of. The rate has just bounced off the upper trend-line of the wedge, and should go on to a bearish movement, however, the consolidation the rate is currently undergoing as well as how far
Following a 6 percent dip in the value of HKD/JPY after the Brexit vote, the pair returned into the channel down it had been following since October 2015, just to put it to the test it in early September. The currency pair is currently attempting the upper trend-line which it is expected to confirm once again. However, in case of
The Sterling surged against the US Dollar, as the currency exchange rate moved in a channel upward pattern. However, the most recent surge in the currency pair was not forecasted, as the UK economical fundamental data dictated the rates direction. Moreover, it was not enough to confirm the pattern's upper trend line for the third time, as the rate retreated
The Swiss Franc recently moved in a broadening ascending wedge pattern against the Singapore Dollar on the four hour timeframe chart. In the meantime, the whole wedge is a surge of the currency pair in accordance with a triangle pattern, as the wedge is located from the triangle's support line to the pattern's upper trend line, which was confirmed once
The monthly chart shows a symmetrical triangle that EUR/CAD has developed over the last eight years. Because an explicit trend has not been established before the triangle formation, an upward breakout is as likely as a downward one and it can be expected that one will occur rather sooner than later. What shifts our expectations more towards a bullish outburst,
A downward break out of the ascending channel pattern EUR/PLN has been following for the past two weeks is likely to cause a significant dip, supposedly towards the 200-hour SMA. The channel proved its significance when losses caused by bad news in the Euro Zone were cut off at the lower trend-line. SMAs of shorter time-frames are in position to
After having found stability in an ascending channel pattern, GBP/NZD broke out of the descending triangle it had formed since June. The channel has decent support which the pair has tested several times already, and is currently approaching again at 1.8147, implying that a downward breakout is quite possible. We believe that the pair will break the lower trend-line of
One of the many currencies, which have formed patterns against the Japanese Yen in the recent trading sessions, is the Euro. The EUR/JPY currency pair is surging in a channel upward pattern on a short timeframe, as the rate remains in a descending channel on a larger scale. The channel upward pattern can be used to predict, how the currency
The Swiss franc is gaining strength against the Japanese Yen in a rising wedge pattern, as the currency exchange rate is surging to another pattern's upper trend line. On a larger scale the currency pair is in a channel down pattern on the weekly timeframe. Moreover, the pair has just recently broken out of a triangle patter, and the resulting
Located in the middle of the superior two-year descending channel, AUD/JPY has set its way towards the upper trend-line with the help of an inferior upward channel. The junior pattern has been developing for more than a week now, and it gives little reason to doubt its strength until the top senior trend-line takes over. 55, 100 and 200-period SMAs
The daily chart shows the US Dollar outperforming the Turkish Lira in an ascending channel pattern. The channel has been present since March, and the pair might find enough support in the 100-day and 200-day SMA cluster to sustain the bullish trend for now. Currently the rate has lost volatility and entered a narrower channel, and then another even tighter
The US Dollar is surging in an upward channel against the Polish Zloty, as the currency exchange rate is approaching near the pattern's lower trend line, which it most likely will hit at around the level of 3.9120. However, at the moment the pattern's support line is located lower at 3.9030, and the currency exchange rate is not falling to
The common European currency is trading in a channel down pattern against the Turkish Lira, as the currency exchange rate is slowly moving lower. The downward movement to the pattern's lower trend line is due to the low volatility of the pair, which has resulted in various support levels being located on its way to the 3.2500 level. Weekly S1
AUD/CHF rose two percent over the last 12 days, establishing a decent uptrend that we do not expect to be broken in the nearest future. With the help of the 200-period SMA, the pair will be pushed higher – a forecast backed by the symmetrical triangle it has just broken as well as an upward channel established on the way
While GBP/CAD has been upholding a strong northward trend-line, recent movements sketched a boundary from the upside as well, creating a symmetrical triangle pattern. With a breakout from the pattern two days ago, the pair affirmed the trend, continuing its way up. A new, steeper uptrend has been developed, implying that the pair could surge in the short-term. On a
As the US Dollar gains strength after Janet Yellen's announcement of a possible increase of the Federal Reserve's rate, the Greenback is trading in a channel up pattern against the Danish Krona. The currency exchange rate is moving in a very thigh range, as the channel is only 200 pips wide, which is not much for this pair. Recently the
The Canadian Dollar is trading in an ascending channel pattern against the Japanese Yen, as the currency exchange rate is trading in a very close range of the pattern's support line. A surge of the rate to the pattern's resistance is hindered by the August high level at 78.80, which is strengthened also by the weekly R1 at 78.8507. In
Just days ago USD/HKD managed to break the half-year descending triangle, maintaining strong resistance at 7.7532. We expect the pair to rally over the next few months until it reaches the 200-day SMA at 7.7657 encountering intermediate resistance at 7.7602 on its way. The rate has not been successful in its attempt to conclusively leap away from the top trend-line