UnknownUnicorn890690

UnknownUnicorn890690

The US Dollar was depreciating against the Norwegian Krone for several weeks when this momentum downwards allayed, thus resulting in the formation of a descending triangle. The lowest point of the fall, t.i., the 7.7571 mark, is likewise the 2016/2017 low. The pair was also trading in a symmetrical triangle which was breached to the upside last week. The Greenback...

UnknownUnicorn890690

GBP/USD 4H Chart: Channel Up The British Pound is advancing against the American Dollar simultaneously in senior and junior ascending channels, where the latter represents a rebound of the currency exchange rate from the lower trend-line of the dominant formation. In the last hours of Monday’s trading session the pair made a second rebound from the...

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NZD/CAD 1H Chart: Channel Down The New Zealand Dollar is losing value against the Canadian Dollar in a short-term descending channel, which started to form after the Kiwi appreciated by 0.9% just in one trading session. In the beginning, the currency rate was moving quite sharply amid macroeconomic data releases and, for this reason, stayed indifferent...

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EUR/SGD 1D Chart: Channel Up The common European currency is gradually advancing against the Singapore Dollar in a long-term ascending channel. The pattern started to form after the currency exchange rate made a rebound and ended to move a six month long horizontal movement. One of the features of this channel is that, initially, it gained two...

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CAD/JPY 1H Chart: Channel Down The British Pound is trading against the Swiss Franc in a short-term pennant formation. The pattern represents the aftereffect of announcement of the UK Official Bank Rate and the subsequent Governor Carney’s speech last week. By the early morning, the currency exchange rate has practically reached the breakout point...

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GBP/CHF 1H Chart: Pennant The British Pound is trading against the Swiss Franc in a short-term pennant formation. The pattern represents the aftereffect of announcement of the UK Official Bank Rate and the subsequent Governor Carney’s speech last week. By the early morning, the currency exchange rate has practically reached the breakout point from the...

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The NZD/USD currency exchange rate continues to move as expected, in general. The issue it that the speculated lower trend line of the medium term descending pattern was passed on Thursday morning. The proposed support actually acted as a resistance to the currency exchange rate. However, after a period of fluctuations the currency pair returned to test the...

UnknownUnicorn890690 Updated 

The previous forecast for the USD/CAD pair has not come into reality. The pair has broken the upper trend line of the long term ascending channel pattern during the early hours of Thursday’s trading session. However, by the middle of the day’s trading session the pair had changed direction and retreated to find support in the previously active resistance line. As...

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The patterns of the AUD/USD currency pair, whose existence was speculated on Wednesday, have fully revealed themselves on Thursday. First of all, it can be seen that the junior descending channel pattern’s borders needed to be adjusted. Secondly and most importantly, the medium term channel was spotted. In general, the currency exchange rate has hit the combined...

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As the Euro bounced off the long term ascending channel pattern’s upper trend line against the Japanese Yen, it began a decline, which stopped at the middle of Thursday’s trading session. The rate rebounded against the lower trend line of the short term ascending channel pattern, which was supported by the 55-hour SMA and the weekly R1 near the 130.80 mark. Due...

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The common European currency recently passed a significant cluster of resistance against the Canadian Dollar. The cluster is made up of the 61.80% Fibonacci retracement level of the 2015 low and 2016 high levels and the monthly R1. Both of these levels of significance are located near the 1.4920 mark. However, they have begun to provide support in the pair’s...

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CAD/JPY 1H Chart: Channel Down The Canadian Dollar is depreciating against the Japanese Yen in weekly descending channel, which started to form shortly after the currency exchange rate left the double top formation. By the moment, the channel has two confirmation points from the top and three from the bottom. The latest rebound happened after the...

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AUD/JPY 1H Chart: Channel Down The Australian Dollar is losing value against the Japanese Yen in a two weeks long descending channels. The formation represents a rebound of the currency exchange rate from the upper trend-line of a preceding ascending channel. Except for the little overstep beyond the pattern’s boundary in the last day of July, the...

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The US Dollar is regaining ground against the Swiss Franc in a channel up pattern. Most recently the currency pair bounced off the resistance of the ascending channel. That event was also the cause of the discovery of the pattern. Most likely the currency exchange rate will decline until it meets with the lower trend line of the ascending channel. Coincidentally...

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Today, on Thursday, August 3, the Euro gained more than 70 base points against the British Pound in less than an hour. It was a purely fundamental event, which was still consistent with the ascending channel pattern, which has guided the pair throughout this summer. The currency exchange rate met with the combined resistance of the weekly R2 and the upper trend...

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EUR/USD prepares to start from weekly R1 Contrary to expectations, an announcement of the US Manufacturing PMI caused only an eight basis points market reaction. Thus, due to absence of any sizable fundamental events, the currency exchange rate spent previous trading session in a flat and steady movement along the weekly R1 at 1.1815, crossing it multiple...

UnknownUnicorn890690 Updated 

XAU/USD slips to 100-hour SMA The first half of previous trading day the yellow metal spent in a confident upward movement, supported by the 55-hour SMA near 1,267.26 as well as the release of a number of disappointing US macroeconomic data. Once an upside momentum was over, the buck started to restore lost positions and dragged the rate to the bottom,...

UnknownUnicorn890690 Updated 

USD/JPY encounters strong support level Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier. Namely, it managed to neutralize multiple attempts of the currency exchange rate to slide downwards, including the 34-pip fall that happened in the middle of the day, under pressure from the 55-hour SMA....