The symmetrical triangle formation that the EUR/AUD has developed over the last two and a half months has been the consequence of an upward breakout from the half-year triangle. The currency pair failed to follow a traditional scenario, where it would be expected to rally towards the 200-period SMA after a rebound from the significant top trend-line of the broken
The New Zealand Dollar has formed a rectangle pattern against the Canadian Dollar, as the rate is moving in the middle of the pattern at 0.9433. In the meantime, the currency exchange rate is also in an ascending triangle pattern on the daily chart, and the triangle pattern shows, that the rate is set to have a break out of
The Australian Dollar is in a channel up pattern against the Japanese Yen, as the currency exchange rate just recently rebounded against the pattern's lower trend line at 77.20, which I support by the 23.60% Fibonacci retracement at 77.23. This movement upwards is also consistent with the larger scale channel down pattern on the daily chart, in accordance with which
While an ascending channel has directed AUD/USD movements for the last four months, the multi-year channel down is likely to prove its dominance in the nearest future, implying a downtrend for the pair. The rate has just touched the upper trend-line of the weekly channel, implying a plunge towards the bottom of the pattern as well as a breakout from
While a symmetrical triangle pattern seems to signal a bearish environment for the pair, EUR/GBP is more likely to surge because of the strong bottom trend-line. The currency pair has developed an uptrend since mid-2015and it can be expected to continue after the triangle is broken. In the short-term, an upward breakout is more likely as well, although uncertainty emerges
A rising wedge suggests that the bullish trend is becoming weaker in USD/CHF, and a trend reversal can be expected during 2017. The pattern has been forming since 2011 and the pair has surged 30% while bound by it. For now, if the wedge holds, on its way towards the upper trend-line the pair will face significant resistance at 0.9947,
As the US Dollar appreciates against the common European currency, the currency exchange rate has formed a descending channel pattern. The rate recently hit the pattern's lower trend line and it is showing signs of a rebound. However, the currency exchange rate previously fell from the pattern's resistance line not due to the fact that the trend line forced the
The US Dollar is in an ascending channel pattern against the Russian Ruble, as the currency exchange rate is moving to the pattern's upper trend line. Previously, the rate rebounded against the pattern's lower trend line at 63.6280. On its way to the pattern's upper trend line the pair is set to struggle against various resistance levels, as all of
EUR/USD has failed to stay inside the bounds of an ascending channel pattern it had been forming since the beginning of July. The pair plunged more than one percent over the last trading session, but is yet to break support at 1.1180 where August 16 lows lie. There is reason to believe that the rate will continue its way south
The USD/CHF currency pair has just broken the falling wedge pattern it has been following since the last week of July, implying that a trend reversal is likely to take place. Ahead of a rally towards the 0.9841/51 level, the pair will bounce from the top trend-line of the wedge at 0.9689. The bottom trend-line of the upward channel formed
In its movements and almost flat fluctuations the yellow metal has formed a only recently noticeable channel down pattern, as the metal rebounded against the pattern's lower trend line at around the level of 1,318. The pattern's lower trend line is also supported by the second weekly support line at 1,320.91. On the way to the pattern's upper trend line
The Euro has formed an utmost interesting pattern against the Swiss Franc, as it is at the same moment in the middle of two of them and they both confirm the same way for the currency exchange rate to go. What you can see in the added chart is the ascending channel pattern, which at the same time is in
The upper-trend-line of a symmetrical triangle has been broken by the EUR/HKD currency pair, implying the continuation of a bullish trend towards the 4 hour channel top trend-line. The rate lies currently at 8.7620, a level attained just moments ago after experiencing a significant hike upon the GfK German Consumer Climate data announcement - an unusual reaction to data entirely
USD/CHF has been moving within an ascending wedge pattern since August 18, and is currently on its way down to the bottom trend-line at 0.9670. The pair reached two-month lows on August 17, dipping to the 0.9538 mark; and as the pattern implies a trend reversal, it could be testing the same level over the upcoming weeks. In case the
The US Dollar is in a broadening descending wedge pattern against the Swedish Krona, as the currency exchange rate recently rebounded against the pattern's lower trend line at 8.3387, and it is moving upwards to the pattern's support line. However, the currency pair is facing a very strong resistance cluster starting from 8.4034 to 8.4161, and the cluster is made
The Buck is appreciating against the Polish Zloty, as the currency exchange rate has formed a rising wedge pattern. At the moment of writing, the currency pair was approaching the pattern's lower trend line, which was located around the level of 3.8100. The pattern's support line is also supported from the downside by the weekly pivot point at 3.8076 and
The GBP/NZD currency pair is attempting a trend reversal, as shown by the double bottom at 1.7747, suggesting that the price could go up in the nearest future. The 1.8075 mark is where the price lies right now, hovering between the 100-period and 55-period SMAs. As volatility stays quite low in August, SMAs and Bollinger Bands are tightly clustered around
Following the symmetrical triangle pattern, the AUD/USD currency pair can be expected to continue its way south from the 0.7628 level where it has been testing the upper trend-line. If the trend does continue, the currency will overstep the bottom trend-line at 0.7591, followed by a dip towards daily S2 at 0.7567. The crossover of the 55-hour SMA and the
The Canadian Dollar is in an ascending channel pattern against the Hong Kong Dollar, and the currency exchange rate recently reached the patterns support line at 6.0000 for a second confirmation. The pair is set to surge and gradually move to the pattern's upper trend line at 6.1150. However, on the way to the pattern's ceiling the rate is set
The US Dollar is in a falling wedge pattern against the Turkish Lira, as the currency exchange rate reached this year's top level on July 21 and began to move southward afterwards. At the moment, the pair is near the pattern's resistance line at 2.9550, against which it has begun to bounce off. Further the rate will move to the
The hourly chart shows a symmetrical triangle pattern for the HKD/JPY currency pair. The pair has been bouncing between the trend-lines for nine days already, with a continuation of the downtrend on the horizon. The rate is also bound by a channel down in the daily chart, where it is making its way South with an upcoming crucial test of
AUD/NZD took a dip to show 1.0438, breaking the support level at 1.0439 which had not been touched since Jul 13, meanwhile continuing to move inside the bounds of a descending wedge pattern. The pair appears to be targeting the bottom trend-line once again and we expect it to fail at 1.0397, encountering intermediate support provided by the bottom Bollinger
Another surging pair within a channel up pattern is the EUR/HKD pair, as the common European currency is appreciating against the Hong Kong Dollar. At the moment, the currency exchange rate is fluctuating near the pattern's upper trend line, which it already confirmed recently at 8.8067. However, the pair found support in the combined support level of the weekly PP
The US Dollar is in an ascending channel pattern against the Singapore Dollar, as the currency pair is nearing the pattern's lower trend line, which is located at the moment at 1.3467. However, the price might have already rebounded, as the trend line is only a part of a larger support cluster, which is also made up from the monthly