The Swiss Franc is in a channel up pattern against the Japanese Yen. At the moment, the currency exchange rate has rebounded against the pattern's lower trend line at 105.61, and it is moving upwards to the upper pattern's trend line at 107.49. On its path upward the pair is set to face two notable resistances, as first it
The currency pair's long-term prospects are cloudy, despite EUR/TRY trading in a clear bearish trend since the beginning of May. Before that the price had broken the 10-month resistance line, and this is a strong ‘buy' signal. At the same time, the Euro has recently closed under the support line, the origin of which dates back to January of 2015,
Right now AUD/CHF is backing away from 0.7550 it reached yesterday, but our outlook on the pair is strongly bullish. Our positive bias is supported by the fact that the Aussie has recently breached the upper bound of the descending channel that has been forming since the beginning of 2012. In addition, hourly, four-hour and daily indicators are mostly pointing
The Australian Dollar is in an ascending channel pattern against the US Dollar, as the currency exchange rate has for the second time confirmed the pattern's lower trend line at 0.7177 on May 29. At the moment, the currency exchange rate is moving northwards to the channel's resistance at 0.8021. However, on its way there, the pair is set to
The common European currency is in a channel down pattern against the Australian Dollar since July 5. At the moment, the currency exchange rate is moving south in the middle of the pattern's borders at 1.4567. As the pair bounced off the pattern's upper trend line around midnight between July 11 and July 12, it is set to move to
The European currency is strongly oversold against the New Zealand Dollar, but there are few reasons the pair will turn around in the nearest future. At the moment, 71% of positions open in EUR/NZD are short, meaning active selling is unlikely. Nevertheless, we see no potential reversal points in the immediate proximity. We therefore expect the bearish momentum to persist
Despite a strong sell-off in the second half of the previous week, AUD/NZD managed to stabilise on Friday near 1.0320 and began a recovery. Later on the rise developed into a channel, and now we expect the pair to confirm the lower bound of the pattern at 1.0440 and start a new bullish wave. The positive outlook is further strengthened
Gold has been rising since the UK referendum on the membership in the EU. However, it still is volatile and the boundaries of the bullions volatility have been moving in an ascending wedge pattern. At the moment, the price of the commodity is at 1,360 by 10:00 GMT, and it is struggling with the weekly pivot point at 1,359.35, before
The common European currency is just out of a double bottom pattern against the Japanese Yen, as the reversal of the trend has occurred, and it indicates that the currency exchange rate is going north. At the moment, the currency pair is at 112.74 by 10:00 GMT and it is moving towards the 200-hour SMA at 112.99, which might hinder
The near-term outlook is bearish, being that the pair is trading at the upper boundary of the descending channel. The longer-term bias, however, is rather ambiguous. From one side, the US Dollar should strengthen, being that last year the pair broke the 13-year resistance line and confirmed it as a new support in May. From the other side, since 2011
The immediate outlook on USD/SGD is strongly bearish. The pair is currently trading near the upper boundary of the descending channel, the upper boundary of which it has recently confirmed. We expect the price to stay under 1.3570/50 (weekly R1, down-trend and July 5 high) and close beneath 1.34 in the nearest future. The sell-off will likely extend towards 1.3250.
We expect a small rebound of up to two groszy from 4.41 to precede a new bearish wave within the emerging descending channel. The intraday rally should be capped by the falling resistance trend-line at 4.43, although there is an additional dense supply area at 4.4360 consisting of the daily R1, recent highs and 200-period SMA.As for the longer-term scenario,
The Euro formed an ascending wedge pattern against the Singapore Dollar after the next day after the Brexit referendum. The currency exchange rate has been struggling with the patterns lower trend line for the past two days, as it is pressured from the upper side by a moving cluster of simple moving averages. However, the trend line is also supported
The common European currency recently entered a channel up pattern against the Norwegian Krona. At the moment, the currency exchange rate is moving near the pattern's lower trend line at 9.4179 by 9:00 GMT, and the pair touched the lower support line just hours ago and rebounded against it. However, the trend line is not supported by any other support
The descending channel the pair is currently trading within suggests a bullish correction of around 150-200 pips from 1.78. The longer-term perspective, however, is quite ambiguous. Although generally the base scenario would be a sell-off from the upper trend-line and a new bearish wave, this might not be the case here. The exchange rate has reached a major support level,
USD/NOK is currently in a good position to extend the rally from 8.2840, which it started on July 4. The main bullish argument is the ascending channel the currency pair has formed during the last four days. The positive outlook is further reinforced by the technical indicators, which are pointing upwards in hourly, four-hour and daily time frames. The price
The Australian Dollar started a falling wedge pattern against the Japanese Yen in the middle of March 2014. Last month, the currency exchange rate rebounded against the patterns lower trend line at 75.27, and, in accordance to the pattern, it is set to move upwards in the next few months. On its way up the pair faces the monthly pivot
The Pound is in a channel down pattern against the Japanese Yen since the evening of June 24, and the pattern started forming just after the results of the UK's referendum results were announced. At the moment, the pair has confirmed the support trend line, and it is moving north at 1.310.00. On its way up to the pattern's upper
From a technical standpoint, we have a strong bearish case in the four-hour chart of EUR/NZD. The currency pair has just bumped into the upper boundary of the descending channel that emerged as a result of the price bouncing off of the 10-month resistance down-trend. The Euro is thus expected to decline from 1.56 down to the lower bound
The bias towards silver is positive. Since the UK referendum the precious metal has gained 17.5% amid the risk-off sentiment, and it is well-positioned to continue the advancement. For one, XAG/USD formed a triangle, a pattern that implies resumption of the latest recovery. In addition, support at 20.10 is reinforced by the trend-line that was established on June 28, and
The common European currency is in a channel up pattern against the New Zealand Dollar, as it has rebounded against a low level of 1.5398, at which the pair has not been since May 2015. At the moment, the currency exchange is at 1.5535 level by 10:15 GMT on Wednesday, and it is moving lower to the pattern's lower trend
The Swiss Franc, after falling for a longer period against the Singapore Dollar, is appreciating in a rising wedge pattern against the Asian currency. At the moment, the currency exchange rate is close to the pattern's bottom trend line at 1.3827. However, a few hours ago it almost reached the trend line, which is located at 1.3800. The pair has
Risks are heavily skewed to the downside. The pair is forming a high-quality descending channel, which suggests a sell-off from 1.45, where the upper bound of the pattern is reinforced by the 200-period SMA and the weekly R1. At the same time, the longer-term indicators are mostly pointing south. Moreover, despite the Euro giving up nearly 10% of its value
Despite AUD/CAD having trouble decoupling from the lower bound of the channel, technical studies mostly suggest further appreciation of the Australian Dollar. Apart from the fact that the price is currently trading near the support trend-line, which implies already implies a rally, a majority of the four-hour and daily indicators are giving ‘buy' signals. At the same time, the