USD/SEK 1H Chart Emerging Pattern: Channel Up

by Admin

Throughout the last 285 bars the U.S. Dollar has been appreciating within a wide corridor, the lower edge of which is now reinforced by the 200-bar SMA. According to the majority (71%) of SWFX marketplace participants this trend is likely to persist, even though technical indicators are giving mixed signals.


EUR/JPY 1H Chart

Emerging Pattern: Channel Down

EUR/JPY has formed a Channel Down on a 1H chart, as it is constantly failing to breach the combination of the down-trend resistance line and the 200-bar SMA. Being that the spot price is currently in the very middle of the pattern, traders are undecided with respect to the pair’s outlook—51% of positions are long and 49% of them are short.


NZD/JPY 1H Chart

Emerging Pattern: Triangle

NZD/JPY has been fluctuating between two converging trend-lines for the last 439 trading hours, which have been responsible for the narrowing trading range. At the moment the pair is just beneath the bearish resistance line, implying that the sell-off is at hand. This view is also supported by SWFX market participants, as 73% of them are short on the pair.