GBP/NZD is currently recovering within a channel after dipping as low as 1.7710 last week, the lowest level since 2013. In the near-term perspective, the pattern implies a rebound from 1.86 and towards 1.9250. The lower bound of the channel is currently weak, but the positive outlook is strengthened by the technical studies and the fact that the immediate support
The Pound recently confirmed a channel up pattern against the Australian Dollar, as the currency exchange rate bounced off the pattern's support line early morning on July 14. At the moment, the currency exchange rate is in the middle of the pattern, and most likely it will go up, to confirm the pattern's upper trend line at 1.7663, which the
The Australian Dollar is in an ascending channel pattern against the Japanese Yen, as the currency exchange rate recently confirmed the patter's upper trend line for the second time. The pair bounced off the resistance of the trend line combined with the monthly R1 at 81.54, and it moved lower. However, the AUD/JPY pair met with the weekly R3 at
USD/SGD keeps trading within the boundaries of the bearish channel. Since the last time we looked at the pair, it has confirmed the upper trend-line once again, reinforcing the bearish outlook. Now, we see a ceiling at 1.3530/20, where the red trend-line is strengthened by the monthly pivot point and the long-term moving average. Our target for the end of
The US Dollar is set to increase in value against the Norwegian Krone. The currency pair is currently trading near the apex of the falling wedge, which is a bullish pattern. Accordingly, the upside risks are increased, and if the upper trend-line at 8.3850 is breached, USD/NOK will be well-positioned for a 0.7-0.8% rise up to the resistance area between
The US Dollar is in a falling wedge pattern against the Swedish Krona, as the currency exchange rate has rebounded against the pattern's lower trend line, and it is fluctuating near it around the level of 8.4700. It is possible that the pair will test the lower trend line at 8.4500 once again. However, the pattern's support line is supported
The Pound has formed a rising wedge pattern against the US Dollar, as the currency exchange rate has been rising since Monday, July 11, and the pair confirmed the pattern's support line for the second time on July 14. At the moment, the exchange rate faces the weekly R1 at 1.3268 on its way to the pattern's upper trend line,
The Australian Dollar is set to strengthen relative to its US counterpart. Not only is AUD/USD forming a bullish channel in the hourly chart, but also in the four-hour and daily charts as well. The price is thus expected to confirm support at 76 cents and surpass Tuesday's high. Our short-term target is the upper boundary of the emerging channel
CHF/JPY is well-positioned to advance further north from the current trading levels. In addition to the ubiquitously bullish technical indicators, the currency pair has formed an ascending triangle, a pattern that foreshadows a rally. If resistance at 106.50 is broken, we will expect a rally of about 180 pips (height of the triangle), which means that the target is going
The Canadian Dollar is depreciating against the Japanese Yen in a channel down pattern on the daily chart since April. Both pattern's lines have been confirmed twice during the last three month period. The currency exchange rate, at the moment, is moving ascending at 80.30 towards the upper pattern's trend line at 81.45, which is strengthened by the weekly R2
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