A rebound from a solid support level at 0.6960 allowed NZD/USD to form a bullish channel. The pattern implies a positive outlook, and the rest of the studies support being long the Kiwi. A majority of the hourly and four-hour technical indicators is giving ‘buy' signals. Moreover, the pair is heavily oversold (72% of positions are short), meaning there is
The Aussie is in a rising wedge pattern against the Swiss Franc, as the currency pair is struggling near the pattern's lower trend line around the level of 0.74. At the moment, the currency exchange rate is in the middle of a cluster, which is made up of various support and resistance levels. The cluster is made up of the
The Canadian Dollar is in a rising wedge pattern against the Japanese Yen, as the currency exchange rate has rebounded against the pattern's lower trend line at 78.80 on July 26. The pair was surging afterwards until it reached a resistance cluster above it, which is made up of the weekly S1, monthly pivot point, 100 and 200-period SMAs respectively
Considering that USD/PLN is guided by the 15-month up-trend support line, which is currently at 3.80, the long-term prospects are bullish. However, in the short run the pair is weak, since at the moment it is forming a descending triangle, a pattern that implies growing supply and hence a sell-off. The key support level at 3.94, and in case
Our outlook on EUR/CAD is strongly bullish, as the pair has recently broken through the four-month falling resistance line and confirmed it as the new support. In addition, the technical indicators are mostly pointing north. Accordingly, we expect the price to rebound from 1.4520/20 and launch a new attack on a tough resistance level at 1.46, which proved to be
The Swiss Franc is in a channel down pattern against the Singapore Dollar, as the currency exchange rate has confirmed the pattern's upper trend line for the second time just recently. At the moment, the pair is in the middle of the pattern at 1.3666, and in accordance with the pattern, the Swiss Franc is set to depreciate against the
The US Dollar is moving northwards in ascending channel pattern against the South African Rand. The currency exchange rate just recently has rebounded against the pattern's lower trend line at 14.2885, and the rate is moving northwards. At the moment, the exchange rate is struggling with a resistance cluster put up by the weekly PP at 14.3199 and 200-period
There are good reasons to be bullish on USD/DKK in the very near term, but in the perspective of several weeks the currency pair is likely to lose ground. At the moment the price is right at the lower bound of the emerging ascending channel. The rate is thus expected to rebound from 6.76. The upside, however, is limited by
The pattern EUR/GBP is currently forming indicates growing demand for the Euro. The key resistance in this case is thus 0.8420. At the same time, the rally is suggested by the positioning of the SWFX market participants: 38% of positions are long and 62% are short.The problem with the bullish outlook is the supposed supply area circa 0.8440, created by
The common European currency is in an ascending channel pattern against the Norwegian Krona, as the currency exchange rate bounced off the pattern's lower trend line at 6:00 GMT at 9.4261 and surged to 9.4530 by 10:00 GMT. At the moment, the pair is in the middle of the pattern and on its way to the pattern's resistance line. However,
The US Dollar is in a rising wedge pattern against the Swedish Krona, as the currency exchange rate has for the fourth time reached the pattern's support line at 8.6300. The pattern's lower trend line is a part of a support cluster made up also of the weekly pivot point at 8.6274 and the 100-hour SMA at 8.6243. However, the
Most of the studies suggest the Australian Dollar will outperform its New Zealand counterpart. The main argument is the fact that AUD/NZD has formed a symmetrical triangle, a continuation pattern. The bullish outlook is also implied by the technical indicators and the solid demand area between 1.0680 and 1.0660. Accordingly, the base scenario is a close above 1.0720 and an
The general outlook on the pair is bearish, as CAD/CHF has just left the ascending channel. At the same time, most of the hourly and four-hour indicators are giving ‘sell' signals. Considering that the rate is forming a falling wedge, however, there is a good chance there is going to be a bullish retracement before the sell-off continues. If resistance
The Pound has formed a rectangle from above pattern against the Japanese Yen post-Brexit. At the moment, the currency exchange rate is at 139.82, which is near the pattern's upper trend line at 141.84, against which it has been struggling for some time. In addition, the pair is now struggling with resistance provided by the weekly PP at 140.00. In
The common European currency is in a broadening descending wedge pattern against the Singapore Dollar. Both pattern's trend lines have been confirmed twice up to now. At the moment, the currency exchange rate is located at 1.4950, which is just below the pattern's resistance line at 1.4970, and the pattern's upper trend line is supported by the weekly R1 at
HKD/JPY remains in a strong down-trend since it topped out at 16.20 last year. And while the multi-month outlook on the currency pair is strongly bearish, the upside risks are growing. At the moment, the pair is trading right at the upper bound of the falling channel, and the negative bias is further reinforced by the weekly and monthly technical
EUR/USD is currently trading in the centre of the emerging channel after confirming the upper bound of the pattern. The bias towards the pair is thus bearish, as the sell-off should extend down to the channel's lower edge. The negative outlook is strengthened by the technical indicators in the four-hour and daily time frames. Once the price drops to 1.0910/00,
Our outlook on USD/SGD is strongly positive. Apart from the bullish technical indicators and the fact that the currency pair has recently established a solid support line at 1.3570, the price has just breached the seven-month falling resistance trend-line. Accordingly, we expect the US Dollar to stay above the new support area at 1.3585, while the current target is the
As the Aussie gains strength against other major currencies, it has formed a broadening ascending wedge pattern against the Canadian Dollar. At the moment, the currency exchange rate has recently rebounded against the pattern's lower trend line at 0.9762, and now the rate is located at 0.9810 on a path northwards. On its way up the pair faces various resistances,
The Australian Dollar is in an ascending channel pattern against the New Zealand Dollar, as the pair is in the process to confirm the pattern's support line for the third time. At the moment, the currency exchange rate is at 1.0696, which is just next to the lower trend line at 1.0700. The Aussie is most likely to continue to
Despite USD/CAD currently trading within the boundaries of the upward-sloping channel, the risks are considered to be skewed to the downside. The currency pair has almost reached a major resistance level 1.3150, which has stopped all attempts of the pair to rise since the beginning of April. This level is also the upper edge of the ascending triangle forming in
There are many studies suggesting the Euro is going to keep appreciating versus the New Zealand Dollar. The main bullish argument is emergence of an ascending channel, which implies a rebound from 1.5730. At the same time, the European currency is oversold—73% of positions are short, and the majority of technical indicators is giving ‘buy' signals. Nevertheless, there are plenty
The British Pound is in a channel up pattern against the US Dollar, as the rate recently confirmed the pattern's support line at 1.3086. At the moment, the currency exchange rate is at 1.3212, and it is moving north to the pattern's upper trend line now located at 1.3700. On its way upward, the pair is set to first struggle
The Canadian Dollar, at the moment, is confirming an ascending channel pattern against the Japanese Yen, as the currency exchange rate struggles against the support provided by the pattern's lower trend line at 81.10. In addition, the pattern's support line is also strengthened by the close by located 200-period SMA at 80.79. Moreover, the trend line and the 200-period SMA