Open:
High:
Low:
Close:
ASCENDING CHANNEL
Bitcoin
BTC/USD
1H
There is an ascending channel detected, btcusd demands a more bearish move to confirm a breakout.
An ascending channel provides a bearish indicator that can be used to indicate extending an downtrend once price breaks out.
Btcusd to head to the 68000 level.
RISING WEDGE
GBP/USD
1H
There is a rising wedge detected.
If price breaks down, the resulting move could predict an extension in the downward direction.
Gbpusd to accomodate towards the 1.325 mark.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel developing and gold requests an impulse down as a signal of a breakdown.
An ascending channel is a technical bearish price action formation that is used to identify a further move down when price breaks through the support.
Gold to move back to the 4750 mark once below 4760 amid the commodity recedes from recent highs.
ASCENDING CHANNEL
Ethereum
ETH/USD
1H
There is an ascending channel occuring.
An ascending channel identifies a bearish formation that can be used to identify the bulls have run out of steam once price breaks down.
Ethusd to move back to the 2120 level.
ASCENDING CHANNEL
EUR/USD
1H
Eurusd completes an ascending channel.
An ascending channel often signals that prices move counter to the prevailing price trend once price breaks out.
There is a chance of further decline to 1.155 on a breach of 1.16.
RISING WEDGE
Bitcoin
BTC/USD
1H
There is a rising wedge observed, the price is ready to break out soon.
Once price breaks down, the resulting move could indicate a change in the prevailing trend.
There is a probability of a bearish run to 68000.
RECTANGLE
Bitcoin
BTC/USD
4H
We can see that a rectangle is exposed.
A rectangle often spots a move up in case if price breaks through the resistance.
A bullish price action to 70000 is possible.
DESCENDING CHANNEL
USD/JPY
1H
We can see that a descending channel is determined and usdjpy needs a bit more consolidation as proof of a breakout.
When price breaks through the resistance, the resulting move could indicate a further move up.
Usdjpy to look for a further push towards the 159 zone on a breach of 158.8.
DESCENDING CHANNEL
EUR/USD
4H
As we can see the price composes a descending channel and the price asks for a bigger bullish move as an indication of a breakout.
A descending channel typically indicates a downward trend is nearing its end if price breaks above resistance.
There is a possibility of a bullish price action to the 1.165 level.
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