GBP/CHF 4H Chart: Channel Up The British Pound is trading against the Swiss Franc simultaneously in medium-term and short-term ascending channels. This time the junior pattern does not represent a rebound directly from the senior channel’s bottom trend-line. This fact allows assuming gradual formation of a rising wedge. However, a very acute angle...
GBP/AUD 4H Chart: Descending Triangle The British Pound had been trading against the Australian Dollar in a descending channel for a month. However, after reaching the pattern’s upper trend-line for the second time, it failed to make a fully-fledged rebound and stopped at the 1.6644 level, which coincides with the channel’s reaction low. The fact that...
USD/PLN 4H Chart: Channel Down The American Dollar is depreciating against the Polish Zloty simultaneously in two descending channels. The junior inner channel formed after the currency pair bounced off from a combined resistance level set up by the senior pattern’s upper trend-line and the 100-hour SMA. In the first half of Monday the rate is...
EUR/CAD 1D Chart: Channel Down The common European currency is trading against the Canadian Dollar simultaneously in long-term and short-term descending channels. The junior channel represents a rebound of the currency exchange rate from the second reaction high of the one and a half year long senior pattern. In the long run , the pair is expected to...
XAG/USD had been trading in a channel down for six weeks when a three-hour plunge sent Silver to the 15.20/40 area. The pair retraced back to the lower channel boundary, but continued to trade higher as bulls were able to take the upper hand and recover its previous losses. Weak US data released mid-session set Silver for a surge that breached a resistance cluster...
GBP/JPY is trading in a short-term channel up. This junior pattern was formed after the rate breached the bottom boundary of a senior channel. The price halted at 145.35 and returned to test this line today. Subsequently, the price plunged mid-session caused supposedly by weak US data. In general, two scenarios are possible. First, even though technical indicators...
2017 Q2 Summary Following a breakout of the bottom wedge boundary at the beginning of the second quarter, the Australian Dollar was trading sideways in the 0.7450/0.7600 area. This lack of momentum was shifted in May when the Antipodean currency resumed a clear downtrend. This motion revealed the formation of an intermediate channel down in force since early...
2017 Q2 Summary In line with expectations, the second quarter of 2017 commenced with the European common currency bouncing off the lower boundary of the falling wedge pattern. Nevertheless, the first round of French presidential election did cause a break of the upward wave, as financial markets demonstrated increased enthusiasm about the positive electoral...
2017 Q2 Summary As it was forecasted, the US Dollar gained ground against the Japanese Yen in the last quarter. However, it occurred in a large range with huge volatility. The pair bounced between levels close to the 107 mark at the start of the quarter and reached up to the 114 mark. However, the movements were still in the dominant long term descending channel...
2017 Q2 Summary The forecast for the second quarter was wrong. However, the strength of the drawn down-trend line was not understated. When the currency exchange rate finally managed to pass the resistance of the down-trend and the 200-day simple moving average at exactly 1.2600, there was a jump. It could not even be called a jump. The move better can be...
2017 Q2 Summary There was a large flaw in the forecast for the previous quarter. It was made too modest by our analysts. The direction and movements of the next two months were precise. However, our team did not look deep enough into the possible movements in the second part of May and June. The goals were surpassed by more than 300 base points, as the common...
The Canadian Dollar is appreciating against the Swiss Franc in a three week long ascending channel. The pattern started to form shortly after the currency exchange rate has reached the 2017 low at 0.7135. By the early Friday's morning, the pair has successfully broken though the weekly R1 at 0.7442 and now is approaching the 55-period SMA, which is backed up by...
USD/NOK had formed a channel down prior to breaching this pattern to the upside. From technical perspective, the given breakout did suggest that the pair should have gone for a rally; however, the 200-hour SMA proved to be strong resistance, halting the Greenback on several occasions. A rebound from the channel has not occurred yet; thus, the a near-term direction...
The Australian Dollar is trading in a minor channel up against the Yen. The bottom channel line, however, still requires one additional confirmation. The price has returned near the 86.20 mark, being supported by the 55-period SMA since early June. Most technical indicators are still located in the bullish area, while trend signals demonstrate that there is no...
The British Pound is gradually gaining value against the Australian Dollar in a short-term ascending channel. Formation of the pattern began after the currency exchange rate bounced off from the bottom trend-line of a preceding descending channel. An impulse given to the new uptrend was enough to push the pair through the 55- and 100-hour SMAs. However, in the...
The South African Rand is trading in a channel down against the Yen in force since late June. The last four sessions were marked by a lack of distinctive direction, thus driving the rate sideways. Subsequently, the Rand plunged swiftly mid-today, thus reaching the lower channel boundary. The given move has pushed technical indicators in the strongly bearish and...
The American Dollar is losing value against the Danish Krone in a medium-term descending channel. Formation of the channel began after the currency pair broke the support line of the preceding long-term descending channel in the result of the sharp depreciation of the Dollar between May 11 and 16. By this moment, the rate has made two confirmations from the top...
The American Dollar is trading against the Hong Kong Dollar in a short-term ascending channel. The surge represents a rebound of the currency exchange rate from the bottom trend-line of a preceding horizontal channel up. In the early Tuesday morning the pair has made an unsuccessful attempt to break through the weekly R1 at 7.8119. If by the middle of the day the...