Open:
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DESCENDING CHANNEL
GBP/USD
1H
It seems like a descending channel has been spotted, the price breaks out soon.
Once price breaks through the resistance, the resulting move could indicate a sharp rise.
There is a probability of a rangebound towards the 1.353 zone.
ASCENDING CHANNEL
USD/JPY
1H
An ascending channel is noticed and the price is close to breaking out soon.
An ascending channel represents a useful bearish indicator that is used to predict a tendency to break in the opposite direction in case if price breakdown occurs.
Usdjpy set to plunge to 159.
BULLISH FLAG
EUR/USD
1H
A bullish flag is close to being done, eurusd needs a next active move for clear breakout confirmation.
A bullish flag identifies a specific pattern with a downward bias that can be used to identify a temporary interruption of an existing trend once price breaks out.
A further bullish continuation towards 1.176 is likely on a breach of 1.175 as bullish momentum increases.
DESCENDING CHANNEL
GBP/USD
1H
There is a descending channel turning up and the price expects a next steady impulse up as an information of a breakout.
A descending channel is said to depict a useful bullish price action formation that is angled down that identifies a bullish price action once price breaks out to the the upside.
Gbpusd looks ready to further extend its gains to the 1.352 zone on a upside break as bulls seeking a new high.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel occurs.
An ascending channel spots reversals in uptrends in case if price breaks below support.
There is a possibility of further decline to the 88 level amid the commodity recedes from recent highs.
DESCENDING CHANNEL
Bitcoin
BTC/USD
1H
As we can see a descending channel emerges, btcusd asks for a move for clear breakout confirmation.
In case if price breaks out, the resulting move could indicate price reversal after a pause.
Btcusd to move upward towards the 77000 level as btcusd challenges 76700 hurdle.
DESCENDING TRIANGLE
Ethereum
ETH/USD
1H
We can see that a descending triangle is close to being completed and the price is breaking out.
A descending triangle suggests a technical chart pattern that typically signals extending an uptrend when price breaks through the resistance.
Ethusd to surge considerably towards the 2330 level on a upside break.
BULLISH FLAG
GBP/USD
4H
A bullish flag has been observed, the price requires a more strong move to confirm a breakout.
A bullish flag depicts a useful chart signal that often signals that the price to go long when price breaks above resistance.
Gbpusd turns higher towards the 1.354 zone once beyond 1.352 as minor hurdle remains at 1.352.
DESCENDING CHANNEL
Gold
XAU/USD
1H
It looks like a descending channel is nearing completion and gold needs a bigger move as a verification of a breakout.
A descending channel is considered to be a technical bullish formation that is used to spot a break in the price direction once price breaks through the resistance.
There is a probability of a bullish run to the 4800 level.
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