Open:
High:
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DESCENDING CHANNEL
Gold
XAU/USD
1H
We can see that the price develops a descending channel, gold expects a next steady move as a clue of a breakout.
A descending channel often spots a bullish move once price breaks through the resistance.
There is a possibility of a bullish continuation to 4060 on a breach of 4040.
ASCENDING CHANNEL
USD/JPY
1H
An ascending channel is detected.
An ascending channel is believed to be a compelling price indicator that spots a bearish move once price collapses through the support line.
It is not ruled out that extra downside to the 163.7 mark will happen on impulse below 163.76 as bears look for entries.
DESCENDING CHANNEL
GBP/USD
1H
A descending channel has been discovered.
A descending channel depicts a useful price action formation that is used to identify that the price to go long once price breaks out to the the upside.
Gbpusd hints a change to the upside towards 1.332 once above 1.33.
FALLING WEDGE
EUR/USD
1H
Eurusd completes a falling wedge.
A falling wedge identifies a downward trend is nearing its end in case if price breaks out to the the upside.
It is likely that a bullish price action towards 1.138 will form on a upside break as eurusd looks bid.
PENNANT
USD/JPY
1H
It looks like usdjpy sets up a pennant.
A pennant can be thought of as a useful bullish chart signal that is used to indicate a sharp rise in case if price breaks out to the the upside.
There is a probability of a bullish move towards 163.9 while above 163.78 as bulls lurking in demand zone.
PENNANT
Gold
XAU/USD
4H
We can see that gold shapes a pennant and the price is ready to break out soon.
Once price breaks down, the resulting move could identify a next move down.
There is a probability of a bearish continuation to the 4000 zone on a breach of 4020 as risk reversal sheds bullish bias.
FALLING WEDGE
GBP/USD
1H
There is a falling wedge occuring, gbpusd demands a bullish move as a clue of a breakout.
A falling wedge identifies price reversal after a pause once price breaks through the resistance.
Gbpusd to recover bullish potential to the 1.332 zone.
PENNANT
USD/JPY
1H
A pennant is almost finished.
Once price breaks out, the move could spot that the price to go down.
Usdjpy to drop to 163.7.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
It seems like the price creates a descending triangle, gold requires a further steady move as a sign of a breakout.
A descending triangle denotes a reliable bearish price action signal that indicates extending an downtrend when price breaks out.
Gold to accomodate towards the 4040 zone on a break below 4050 as bears look for entries.
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