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DESCENDING TRIANGLE
Bitcoin
BTC/USD
1H
It looks like a descending triangle is distinguished.
A descending triangle is believed to be a useful bearish chart indicator that often identifies an extension in the downward direction if price breaks through the support.
Btcusd pulls back to 77000 on a downside break as the cryptocurrency becomes weak.
FALLING WEDGE
GBP/USD
1H
As we can see a falling wedge has been identified.
A falling wedge is considered to be a specific bullish price action signal that often identifies a downward trend is about to reverse into an upnward trend if price breaks through the resistance.
A move towards 1.351 is on the way as extra rangebound not ruled out.
RISING WEDGE
Crude Oil
USOIL
1H
There is a rising wedge recognized and the price lacks a next strong move as an indication of a breakout.
A rising wedge typically predicts that the price to go down once price breaks below support.
Crude-oil challenges a move to the 92 level once below 94.
RISING WEDGE
GBP/USD
1H
There is a rising wedge revealed.
A rising wedge tends to be a useful chart formation that often predicts a bearish price move when price collapses through the support line.
Gbpusd risks extra downside to 1.349 on a breach of 1.3495.
PENNANT
Gold
XAU/USD
1H
We can see that a pennant has been discovered and the price expects an active impulse down for clear breakdown confirmation.
Once price breaks down, the move could identify a bearish price action.
Gold to resume its downfall towards 4720.
PENNANT
GBP/USD
4H
It seems like a pennant has been detected and gbpusd wants a bigger impulse down as a signal of a breakout.
A pennant is a specific bearish chart indicator that typically indicates a sharp decline when price breaks through the support.
A bearish continuation to the 1.348 zone is not ruled out as minor hurdle remains at 1.3505.
RISING WEDGE
Ethereum
ETH/USD
1H
It seems like ethusd builds a rising wedge and the price is close to breaking out.
If price breaks out, the move could identify a further move down.
Ethusd is at risk of extending its slump to the 2380 zone on a downside break.
SYMMETRICAL TRIANGLE
USD/JPY
1H
Usdjpy forms a symmetrical triangle, the price is about to break out now.
A symmetrical triangle provides a specific bullish formation that typically identifies a bullish price move if price breaks above resistance.
Usdjpy looks ready to further extend its gains towards 159.6 on a breach of 159.5.
DESCENDING TRIANGLE
EUR/USD
1H
Eurusd completes a descending triangle and the price is ready to break out soon.
If price breaks through the support, the resulting move could indicate the more likely potential of falling prices.
It is likely that a move to 1.172 will occur on a breakout of the descending triangle.
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