The US Dollar is in a channel up pattern against the Zloty. At the moment, the currency exchange rate is at the lower pattern's trend line, which is also supported by the May high level of 3.9822. In addition, very close by are located various supports, which are located close by to each other in distances varying from ten to two hundred pips. Below the
The Canadian Dollar is in the middle of a channel up pattern against the Swiss Franc. At the moment, the currency exchange rate is at 0.7535, and it is in an upwards movement for the past four hours. However, it faces a resistance put up by the 200-period SMA at 0.7542, which is likely to press the exchange rate lower and lower until the rate
Our overall outlook on EUR/TRY is strongly bearish, as during the formation of the channel the currency pair managed to break an 18-month support trend-line. Now, after the price confirms a new resistance level at 3.27, selling should resume. In this case the initial target will be a combination of June and April lows, and the next one will be
For the time being USD/DKK is bearish, as the currency pair formed a descending channel after jumping to 6.8160 amid the referendum in the United Kingdom. The sellers are highly unlikely to stay in control for long, however. The price is slowly returning back to the broken seven-month trend-line, which is supposed to trigger heavy buying once the rate reaches
The Aussie, by reversing its direction against the Swiss Franc, has established a channel up pattern following a breakout of a double down pattern. Previously the pair was in a channel down pattern until the currency exchange rate formed a double bottom pattern, which usually predicts and in this case confirmed a reversal of the trend. At the moment the
The US Dollar is in a post Brexit falling wedge pattern against the Singapore Dollar. At the moment, the currency exchange rate is located next to the pattern's upper trend line at 1.3462. The upper trend line's provided resistance is strengthened by the 55-hour SMA, which by 11:00 GMT was located exactly on the trend line. Above the before mentioned
After AUD/USD stabilised near 0.7150 following the April-May sell-off, the pair managed to form an ascending channel of decent quality. And while the weekly outlook on the Aussie is bullish, as the currency has just bounced off of the lower bound of the pattern and the SWFX market is overcrowded with bears (72% of positions are short), the upside is
Despite the recent (June 23) test of the upper bound of the bullish channel that originated in mid-2015, NZD/USD managed to find solid support at 0.6970. From here, the currency pair formed an ascending channel, which is set to develop further, considering a plethora of bullish technical indicators. The positive bias is further reinforced by the positioning among the SWFX
As the Australian Dollar strengthens against other currencies, it has also formed a channel up pattern against the Japanese Yen. The currency exchange rate rebounded against the patterns lower trend line around 8:00 GMT at 76.50, and at the moment it is trading at 76.71. The upper trend line is located at 77.60, and the pair's way to it is
The Australian Dollar entered a channel up pattern on June 27 against the Canadian Dollar. At the moment, the currency exchange rate is moving north to the patterns upper trend line around 0.9700. There are no other resistances on the pair's movement up to that level, as the closes other resistance cluster consisting of the weekly and monthly first resistances
NZD/CAD has been bullish since the end of May, and we expect the Kiwi to gain some 2% more before the bears take over. The pair has just confirmed the lower bound of the ascending channel, meaning it should rebound from 0.92. The positive outlook is also implied by the technical indicators. The rally, however, is highly unlikely to be
With the help of the trend-line that was established in the second half of June, EUR/AUD is now forming a descending channel. At the moment, the currency pair is finishing the bearish wave within the pattern, which is likely to end circa 1.48, where demand is implied by the support trend-line together with the daily S1 and the June low.
Although the current situation in EUR/JPY implies a short-term rally, just like in GBP/USD, the emerging pattern indicates growing downside risks. There is a good chance the Euro will find support circa 113.80 in order to launch a new attack on the red trend-line, but the rising wedge is a bearish pattern, and eventually the green-trend line is likely to
Considering the pattern the Cable is currently forming, there is a good possibility the Pound will keep recovering from the post-Brexit-vote decline. The pair is now trading near a strong demand area, created by the lower bound of the pattern that is reinforced by the 200-period SMA. If the price rebounds from here, we should soon see a re-test of
The European currency entered a falling wedge pattern at the start of May against the New Zealand Dollar. At the moment, the pattern's trend lines have been confirmed two times, and the currency exchange rate is moving down at 1.5608. The pair passed the monthly S3 at 1.5641 this morning, and it will most likely gradually drop to the lower
The US Dollar entered a Falling Wedge pattern against the Turkish Lira the next day after Brexit, as the currency exchange rate started steadily moving lower, with small fluctuations in the general trend. Yesterday the pair passed a huge cluster of support from 2.9283 to 2.9050, which is made up from three SMAs and the monthly and weekly pivot points.
Silver keeps trading within the channel we found on Monday. Since then, XAG/USD has confirmed the support trend-line, and now the metal is in the process of forming another bullish wave within the upward-sloping corridor. The pattern implies a rally towards 18.80/77, namely the monthly R2 and the upper edge of the emerging channel. The positive bias is further strengthened
Although USD/NOK is currently forming a pattern that usually portends a sell-off, we consider the upside breakout to be more likely. There is a solid demand area circa 8.40 that proved its high importance in May and in the first half of June. At the same time, there is the lower boundary of the pattern at 8.43 and the 200-hour
With the announcement of the Brexit referendum results, the Pound fell sharply against all major currencies, including the Canadian Dollar. However, afterwards the currency pair has formed a falling wedge pattern, which has just been confirmed, as the currency exchange rate has just confirmed the patterns upper trend line at 1.7284. Although, the patterns upper trend line is not supported
The European Currency formed a falling wedge pattern against the Canadian Dollar at the start of June. However, the last confirmation of the patterns lower trend line might be just due to the selloff of the Euro caused by the UK's referendum on membership in the European Union. At the moment, the currency exchange rate is around a strong support
The Loonie formed a double bottom pattern against the Hong Kong Dollar June 23 on the Brexit referendum vote results. At the moment, the currency exchange rate has confirmed the pattern and the fact that it initiates a reverse of a downward trend. The pair bottomed for the second time at the level of 5.9307, and since then it has
With the results of the UK vote on whether to remain in or leave the European Union on June 23, the GBP/AUD pair started and formed a descending triangle pattern, from which it has already broken out, confirming the pattern. The pattern confirms a continuation of the Sterling's depreciation against the Australian Dollar. At the moment, the currency exchange rate
AUD/SGD confirmed the lower bound of the bullish channel forming in the daily chart in May, and right now the pair is in the upward wave within the channel. However, there are plenty of reasons to be bearish on the Aussie at the moment, the main being the emergence of a descending triangle, a pattern that signifies growing supply. If
There is a bearish channel emerging in the 15-minute chart of NZD/CAD, and at the moment the pattern implies a sell-off from 0.9190 down to 0.91. This scenario is supported by positioning of the SWFX traders, 69% of which are short. However, as noted yesterday, the currency pair is also forming a bullish channel in the four-hour chart, at the