No significant changes in GBP/USD were apparent on Wednesday, as the exchange rate remained at a relatively stable level. The Pound failed to surpass the 55-hour SMA on two occasions and therefore remained below the 1.3020 mark for the second consecutive day. Technical signals on Thursday morning suggest that the rate should not breach the weekly and monthly S1s...
Daily outlook - NZD/USD tries to reach 0.7310 The rest of the previous trading session the New Zealand Dollar expectedly spent in a gradual advance against the US Dollar, trying to reach the weekly S2 at 0.7310. At the moment, it still has not reached the target even with the help from a release of information on the US CPI. On the other hand, such...
Daily outlook - USD/CAD returns to weekly R1 As it was expected, the USD/CAD currency rate bounced off from the 100-hour SMA near 1.2677 and once again surged to the weekly R1 at 1.2738, and even managed to bypass it for couple of hours. Fortunately for the Loonie, an announcement of information on the US CPI led to 33-pips depreciation of the...
Daily outlook - AUD/USD soars on fundamentals In line with expectations, the AUD/USD currency pair left a descending triangle formation in the downward direction. Most probably, the rate could continue to move it this direction, but a release of information on the US CPI led to 30-pips depreciation of the Greenback. After markets will calm down, the...
Daily outlook - EUR/JPY slips to March 2016 high In accordance with expectations, the Euro continued to depreciate against the Japanese Yen until the currency pair reached a support set up by the March 2016 high at the 128.18 level. Afterwards, the rate made a rebound and started to move in the upward direction similarly as it did yesterday. A...
GBP/CHF 1H Chart: Channel Down The British Pound is losing value against the Swiss Franc in a vertical descending channel that has formed in the result of a rebound of the currency exchange rate from the upper trend-line of a preceding ascending channel. At the moment, formation of the channel is completed, as it consists of four confirmation points. ...
GBP/CAD 1H Chart: Channel Up The British Pound is trading against the Canadian Dollar in a short-term ascending channel that formed in the result of a 78-pips appreciation of the Loonie three days ago. At the moment, it consists of two reaction highs and two reaction lows and, thus, might cease to exist already in the first half of the next week. ...
Daily outlook - NZD/USD slips to 0.7310 An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern. For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310. Most probably, the surge would continue at least until the 0.7348 mark. A number of...
Daily outlook - USD/CAD trades around 1.2676 Tuesday’s evening the currency exchange rate spent in an expected horizontal movement along the 55-hour SMA towards the bottom trend-line of an active ascending channel. At some moment, the pair has entered into a four hour downfall and has practically sneaked from the pattern. However, a combination of the...
Daily outlook - AUD/USD rebounds at 0.7867 As it was expected, the currency pair failed to jump above the 55-hour SMA and spent the rest of the previous trading day near the bottom line of a medium-term descending channel. Most likely the pair could continue to move between these barriers, but a speech delivered by the RBA Assistant Governor Kent forced...
Daily outlook: EUR/JPY down by 1.19% Contrary to expectations, the Euro broke out from a symmetrical triangle in the downside direction. In the process, the currency rate managed to bypass the medium-term ascending channel’s bottom trend-line, the monthly PP and R1 and the weekly S1 and S2. Even though 70% of traders continue to remain bearish on...
AUD/JPY 1H Chart: Channel Up The Australian Dollar is trading against the Japanese Yen in a small ascending channel. The pattern formed in the result of a 100-pips depreciation of the Aussie amid a speech delivered by the RBA Assistant Governor Kent. At the moment, it consists of two reaction highs and lows and, thus, might be broken in the nearest...
USD/MXN 1H Chart: Channel Up The American Dollar is appreciating against the Mexican Peso in a medium-term and short-term ascending channels. At the moment, the channel consists of three reaction highs and three reaction lows and, thus, might be cease to exist in the upcoming days. The fact that the currency pair is gradually approaching to the lower...
The Euro is trading in a descending triangle against the Australian Dollar with its lower boundary fixed near the 1.4830 mark. The given pattern was formed after the hourly fall on August 4 breached the lower boundary of a channel up. Descending channel is a bearish pattern that should guide the pair south irrespective of its previous direction. Thus, a...
The South African Rand has depreciated substantially against the Japanese Yen within the last six weeks, thus forming a channel down - valid for most of this downfall. As apparent on the chart, the rate failed to reach the bottom channel boundary in its last wave down and, subsequently, breached the upper line mid-session. This failure was an early indication that...
The US Dollar has appreciated substantially against the Hong Kong Dollar since early 2017, currently standing near the 7.8240 mark. Recently, the given pair has formed a minor channel up that is guiding the Greenback towards 7.8286—the highest level since mid-2007. This suggests that the rate should be due for a long-term fall. In short-term, however, technical...
The Swiss Franc is trading in a channel down against the Singapore Dollar. The given formation was created when the rate bounced off the bottom boundary of a longer-term falling wedge and continued to move in the same range even after this patter was breached. From theoretical point of view, the Franc should have appreciated after the breakout; however, given the...
AUD/NZD 1H Chart: Rising Wedge The Australian Dollar was advancing against the New Zealand Dollar in a short-term ascending channel that has formed in result of a rebound from the bottom trend-line of a preceding descending channel. Three days in a row the Aussie was advancing against the Kiwi. However, after a speech delivered by the RBA Assistant...