From the look of things, the GBP/AUD continues to trading in a descending channel.
The decline of the currency exchange rate will continue today.
128 pips target.
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After approaching the upper boundary of a dominant channel down , the Euro began depreciating against the Swiss Franc.
The EUR/CHF pair is gradually moving upwards to test the upper boundary of the junior pattern.
In general, two scenarios are likely during the following trading sessions. First, the currency pair might breach the upper boundary of the junior...
The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25.
The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours.
Technical indicators flash bearish...
The Aussie has been gaining strength against the Japanese Yen since late November. Although the bullish movement was stopped by the weekly pivot point at 88.89 level.
The pair already breached past the 23.60% Fibonacci retracement level and was slowly heading south. This movement is likely to be stopped by the combined support of the weekly and monthly PP...
The common European currency has been trading in a downtrend channel against the British pound since the middle of January. Although the decline has been stopped by the weekly PP at 0.86 for a temporary retracement to the upside.
After testing the downtrend's boundary on 25th January, the pair started to consolidate to the north. A junior pattern has been drawn...
A full review was made for the GBP/JPY pair, due to previously drawn pattern being broken. The pair was smoothly moving north until it was stopped by the combination of the monthly and weekly PPs near the 155.78 mark.
A new junior channel has been mapped, and by the end of Friday's trading session, a breakout has occurred to the south.
Meanwhile, in regards...
After approaching the upper trend-line of a dominant channel down pattern, EUR/AUD currency exchange rate began to decline. After reaching the 50.00% Fibonacci retracement level.
The common European currency is slowly moving downwards to test the dominant channel down-trend line up pattern. This retracement can be measured with the high of 1.5772 and the low of...
