Open:
High:
Low:
Close:
ASCENDING CHANNEL
GBP/USD
1H
It looks like an ascending channel has been encountered, gbpusd requires a further steady correction as proof of a breakout.
An ascending channel tends to be a reliable pattern that has an upward slope that can be used to identify a move down in case if price collapses through the support line.
Gbpusd risks extra losses to 1.345 on impulse below 1.3462 as gbpusd becomes capped.
DESCENDING TRIANGLE
Bitcoin
BTC/USD
4H
It seems like a descending triangle develops.
In case if price breaks above resistance, the resulting move could identify an extension in the upward direction.
There is a chance of a further bullish price action towards 64500 on a breakout of the descending triangle.
DESCENDING CHANNEL
Ethereum
ETH/USD
4H
There is a descending channel encountered and the price is close to breaking out soon.
A descending channel describes a compelling indicator that can be used to signal a bullish price action when price breaks above resistance.
There is a possibility of a move towards 1880 on a breach of 1875 as downside pressure seen easing.
RISING WEDGE
Bitcoin
BTC/USD
1H
We can see that a rising wedge develops.
If price breaks down, the move could identify a bearish price move.
There is a chance of a further bearish price action to 64000.
BULLISH FLAG
USD/JPY
1H
It seems like the price shapes a bullish flag.
A bullish flag can be thought of as a compelling bullish price signal that can be used to signal an extension in the upward direction once price breaks out.
Usdjpy to maintain its positive tone towards the 157.8 mark once beyond 157.7.
ASCENDING TRIANGLE
Gold
XAU/USD
4H
Gold establishes an ascending triangle, gold requests more bigger rise as a sign of a breakout.
An ascending triangle identifies a reliable indicator that can be used to signal an extension in the upward direction if price breaks out to the the upside.
Gold to accomodate towards 4160.
RISING WEDGE
Bitcoin
BTC/USD
1H
As we can see a rising wedge is very close to being finished, the price breaks out.
A rising wedge typically predicts an upward trend is nearing its end once price breaks down.
Extra downside to the 63500 level is possible on a breakout of the rising wedge.
RISING WEDGE
Ethereum
ETH/USD
1H
There is a rising wedge emerging and the price asks for a strong move as proof of a breakout.
In case if price breaks out, the resulting move could predict extending an downtrend.
Extra downside towards 1865 looks possible.
BEARISH FLAG
USD/JPY
1H
We can see that the price sets up a bearish flag, the price needs a more active move as proof of a breakout.
A bearish flag is a specific bearish price action formation that typically identifies that the price to go short in case if price breakdown occurs.
Usdjpy now looks towards 157.5 on a break below 157.7 as usdjpy challenges 157.7 hurdle.
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