EUR/CHF 4H Chart: Rectangle

AUD/CAD 1H Chart: Channel Down

Comment: The Australian Dollar was gradually appreciating against its Canadian counterpart during three months ended October 28. In the end of October, the pair reversed its trend to the south; in the beginning of November, the pace of decline accelerated and the pair started to form a channel down pattern. At the moment of writing, the currency couple is trading above its 50-hour SMA that acts as a strong support. Market participants are almost neutral, with 55.56% of them betting on appreciation of the pair. Meanwhile, technical indicators are sending mixed signals, being strongly bullish in the short-term, neutral in the medium tern and bearish in the long-term.

EUR/CHF 4H Chart: Rectangle

Comment: A dive to a four-month low in the very end of September was a starting point of the rectangle pattern formed by EUR/CHF. The pair entered the pattern from below and has touched its boundaries for four times already. Now the currency couple is faltering above its 50- and 200-bar SMAs and is expected to advance by traders who are bullish in 62.44% of cases. However, the death cross that is likely to occur before long given that 50-bar SMA almost fell below 200-bar SMA may defy traders’ expectations. At the same time, technical indicators are neutral in the short-term and bearish in the longer timeframe.

GBP/NZD 4H Chart: Triangle

Comment: A formation of the triangle pattern by GBP/NZD started in mid-October; the pattern has lasted for 117 hours already but is likely to be breached in the following hours as the pair almost approached the apex. Currently, GBP/NZD is vacillating slightly below the pattern’s support, suggesting that the breakout may have occurred, especially given the proximity of the apex. If it proves to be true, the Pound is likely to witness an accelerating decline against the New Zealand Dollar in the hours to come. However, market sentiment gainsays this, showing that more than 70% of traders are bullish on the pair.

USD/HKD 4H Chart: Ascending Triangle

Comment: Having touched a one-year low, the U.S. Dollar got an impulse to advance against its Hong Kong peer. The appreciation started alongside with formation of the ascending triangle pattern on November 8. At the moment of writing, the pair was fluctuating close to the apex of the triangle that signals on the looming breakout. Ascending triangle patterns usually result in bullish breakout and this time is not likely to be an exception, with 66.67% of all orders being placed to buy the instrument. Technical indicators also suggest a climb in the short-term but are neutral for medium and long terms.