UnknownUnicorn890690

UnknownUnicorn890690

The Canadian Dollar is gaining value against the Swiss Franc in a narrow short-term ascending channel. The pattern started to form shortly after the currency exchange rate left the double top formation and made a rebound from the 100-period SMA at 0.7281. The nearest resistance is provided by a combination of the 50% Fibonacci retracement level at 0.7436 and the...

UnknownUnicorn890690

After tests of 103.44, AUD/CHF took a solid plunge to lose 37% on the weekly scale, but now appears to be reversing and has already recovered part of the losses. The pair established a rising wedge and broke the channel down pattern which was guiding it south, meaning that there might be some clouds in sight for bulls. The Ichimoku cloud, while green, is not wide...

UnknownUnicorn890690

USD/CNH has been soaring since 2014 when it abandoned the low at 6.0166 and went on to form an ascending channel pattern. It appears that the pair has no clouds in sight and it might even be the case, as it has launched an attack at the psychological 7.0000 level where the upper trend-line of the pattern lies. Pressures from the channel top trend-line, a falsely...

UnknownUnicorn890690

The Euro has been underperforming against the Singapore Dollar for more than ten years already—but the pair might be beginning to give out bullish signals as the upper bound of the prominent channel down pattern starts to gain attractiveness. With the latest low failing to sustain amplitude, a falling wedge has emerged, and is strengthening the reversal scenario...

UnknownUnicorn890690

Regardless of the channel-bound guidance GBP/CAD received over the last one-and-a-half years, the pair failed to repeat the recent slip towards 1.5108 – the ultimate low that came into play May 2010. A break above the upper trend-line of the pattern confirmed the trend to be broken, but was not sufficient to make bulls confident just yet. While several patterns,...

UnknownUnicorn890690

Ultimate highs at 21.96 sent USD/MXN packing in a double top formation, and the cross has been trading on a slip ever since. Trend-lines switched slopes, but the pair managed to remain inside the bounds of a channel down pattern for a month, losing amplitude for lows just recently, and creating a bullish setup. Due to the fact that the pair has just broken a...

UnknownUnicorn890690

The hourly chart shows solid upward movements consistent with our expectation that the 9.5103 Fibo retracement is up for tests. The pitchfork holds its ground, while a junior channel leads the rate south, facilitated by very bullish-looking SMAs that rest beneath. Resistance at 9.5279 forms an ascending triangle, which has just been broken and then reinforced,...

UnknownUnicorn890690

On the daily chart, we see more reasons for a correction. Even though bearish momentum is quite strong with all three possible death cross signals having been posted in the last couple of months, the pair has started a small-scale up-wave, targeting the 23.60% Fibonacci level at 9.5503. The Commodity channel index could not be more indifferent with a reading of...

UnknownUnicorn890690

EUR/SEK had its ups and downs over the last 20 years or so, setting a high at 11.4465 and a floor of 8.1186. The latest downfall stripped off 31% of the pair's value, and has now resulted in a partial recovery after 8.3253 sent it skyrocketing. A rising wedge pattern is, however, signaling bulls to watch out and it might be time some downward risks remind of...