EUR/AUD 1H Chart: Rising Wedge The common European currency is trading against the Australian Dollar in a rising wedge formation. The current pattern started to form right after the currency pair left an ascending triangle and unsuccessfully tried to build a short-term channel up along the 55-hour SMA. Despite all attempts to break to the bottom, the...
CAD/CHF 4H Chart: Channel Up The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel. The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend. For the moment, the channel is made from four confirmation points, which means that...
For the past few trading session the USD/CAD has bounced around the 2016 low level. The historical low level is actually supported by a lot of other support levels. Moreover, the pair has formed a triangle pattern on a small scale. These factors combined are pushing for the hypothesis that the pair will break out to the upside.
The Australian Dollar has broken out of the short term triangle pattern to the downside against the US Dollar. Due to that reason a full review of the situation on the pair’s charts has been done. First of all it can be noted that the breakout to the downside could have been forecasted by examining the large scale situation and identifying a large scale ascending...
The New Zealand Dollar suffered losses against the US Dollar during the first half of Tuesday’s trading session. The currency pair even broke out of the ascending channel pattern to the downside. As a result of the break out, the pair fell down until it found support in the 200-hour SMA, which was located at the 0.7460 mark. It is highly possible that until the...
The common European currency reached the resistance of a ascending triangle pattern against the Japanese Yen. The upper trend line of the triangle pattern has kept the pair from surging since the start of July. Due to that reason it is still to be seen whether the various support levels below it will be able to force the Euro through the trend line. Namely the...
USD/ZAR 1H Chart: Channel Up The American Dollar is strengthening against the South African Rand in a short-term ascending channel. The pattern started to form two days ago after a sharp appreciation of the Greenback by 1.8%. Since there were no fundamental events that day, the surge most probably was attributed to combined support level set up by the...
The Pound has reached an important technical cross point against the Swiss Franc. The pair represents the trade off between risk on and risk off sentiment in Europe. One can see that something is about to happen fundamentally, which will push the pair out of the ascending triangle pattern, which has formed from the lower trend line of junior pattern and the upper...
The Swiss Franc is depreciating against the Japanese Yen in a descending channel pattern on a small scale. However, by looking at the larger scale situation of this two safe haven currency pair, it can be observed that the pair might soon surge. The currency exchange rate has encountered the support of a medium scale channel down pattern. Most likely the rate will...
USD/TRY 1H Chart: Channel Down The American Dollar is losing value against the Turkish Lira simultaneously in short-term and medium-term descending channels. Formation of the channel started after the currency exchange rate bounced off from a combined resistance level formed by the 55- and 200-hour SMAs. At the moment, the pair is gradually slipping...
The US Dollar is gaining ground against the Russian Ruble in an ascending channel pattern. However, it can be observed that the currency exchange rate is approaching the upper trend line of a long term descending channel. Most likely the currency pair will be pushed into the trend line by the support of the 55 and 100-period simple moving averages. Both of the...
The Australian Dollar has been appreciating gradually against the Japanese Yen in an ascending channel valid since late May. Its peak was reached at 89.42 where the 2017 high is located. The given formation was breached to the downside in this session when the rate failed to overcome a resistance cluster set by the 200– and 100-hour SMAs. As a result, a...
USD/PLN 1H Chart: Descending Triangle The American Dollar is losing value against the Polish Zloty in a pattern that has the features of a descending triangle. An impulse necessary for its formation was given by an announcement of the US Federal Funds Rate on Wednesday. In theory, the currency rate should exit the pattern in the southern direction. ...
EUR/NZD 4H Chart: Descending Triangle The common European currency is trading against the New Zealand Dollar in a descending triangle that is about to be broken. The pattern started to form after a 1.84% appreciation of the Euro amid Mario Draghi speech. From technical perspective, triangles are continuation pattern, which in this case mean that the...
The US Dollar has appreciated substantially against the Norwegian Krone, jumping more than 80% within the last eight years. The ultimate high was reached in January 2016 when the pair managed to push up to the 8.9682 mark. Subsequently, the Greenback traded lower and entered a long-term consolidation period that confined the price in the 8.8000/8.0000 territory....
The European common currency is trading in a symmetrical-triangle-like formation, demonstrating the increasingly equal power of both bulls and bears. In addition, the EUR/CAD exchange rate has likewise traded in a range between 1.4672 and 1.4489 for the last two trading weeks; thus, a confirmed breakout of the triangle in either direction may result in the Euro...
GBP/JPY 4H Chart: Channel Up The British Pound is trading against the Japanese Yen in a one week long ascending channel. The pattern represents a rebound of the currency exchange rate from a combined support level formed by the preceding descending channel’s bottom trend-line, the 200-period SMA and the monthly PP at 143.89. At the moment, the...
XAU/USD is trading in two formations simultaneously. The more senior pattern is an ascending wedge which was formed in early July. The given pair has likewise formed a minor broadening wedge which is located within this senior pattern. Currently, the yellow metal has stopped at the lower boundary of the latter, failing to breach this line on two occasions....