Open:
High:
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Close:
RECTANGLE
GBP/USD
1H
It looks like a rectangle is almost completed, the price asks for more pullback as a sign of a breakout.
A rectangle signals the more likely potential of falling prices once price breaks below support.
A rangebound to 1.346 is likely to happen on a breakout of the rectangle as gbpusd becomes weaker.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
There is an ascending channel appearing and the price wants a next strong bearish move for clear breakout confirmation.
An ascending channel can be thought of as a technical bearish price action pattern that typically identifies a bearish price action once price collapses through the support line.
A bearish push down to 102 is not ruled out.
DESCENDING CHANNEL
Bitcoin
BTC/USD
1H
As we can see a descending channel arises.
A descending channel represents a compelling bullish indicator that can be used to indicate a next move up once price breaks out to the the upside.
Btcusd advances higher towards 76500 on a upside break as downside pressure mitigates.
RECTANGLE
Gold
XAU/USD
1H
Gold shows a rectangle and the price breaks out now.
A rectangle spots that the price to go long if price breaks out.
Gold looks ready to further extend its gains towards the 4380 zone while above 4360.
DESCENDING CHANNEL
Gold
XAU/USD
4H
A descending channel is almost completed and the price is ready to break out.
A descending channel often spots that the price to go long when price breaks through the resistance.
It is likely that a bullish continuation to the 4400 zone will be made.
DESCENDING TRIANGLE
EUR/USD
1H
It looks like a descending triangle develops and the price expects a next bigger bullish action for the certainty of breakout.
A descending triangle often results in the bears have run out of steam once price breaks through the resistance.
Eurusd to prolong the growth phase towards the 1.155 level.
RISING WEDGE
USD/JPY
1H
A rising wedge is close to being finished.
A rising wedge tends to be a compelling formation that typically signals a sharp decline if price breaks through the support.
Usdjpy to suffer a steeper decline towards 155.2 as there is room for a downside correction.
FALLING WEDGE
GBP/USD
1H
There is a falling wedge occuring, the price calls for a further bigger move as evidence of a breakout.
A falling wedge is said to depict a useful bullish price action pattern with a downward bias that is used to identify a bullish price action in case if price breaks through the resistance.
There is a possibility of a rangebound to 1.349.
DESCENDING CHANNEL
Ethereum
ETH/USD
1H
As we can see the price shapes a descending channel.
A descending channel is considered to be a useful bullish chart indicator that often spots that the price to go up if price breaks above resistance.
It is likely that a further bullish move towards 2450 will happen on a breach of 2410 as the cryptocurrency challenges 2410 hurdle.
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