Open:
High:
Low:
Close:
ASCENDING CHANNEL
NZD/USD 4H
An ascending channel has been revealed and the price asks for a strong correction for the certainty of breakdown.
An ascending channel tends to be a compelling formation with an upward bias that can be used to signal a next move down in case if price breaks out to the the downside.
Nzdusd could recede to 0.578 on a breakout of the ascending channel.
DESCENDING CHANNEL
NZD/USD 1H
As we can see nzdusd creates a descending channel and the price is going to break out.
A descending channel identifies a signal that typically indicates an interruption of a downtrend when price breaks through the resistance.
A bullish move to 0.581 stays on the cards.
PENNANT
EUR/USD
1H
A pennant is close to completion.
A pennant represents an indicator that typically predicts that the price to go down if price collapses through the support line.
Decline towards the 1.173 zone is probable on a breakdown of the pennant as extra rangebound not ruled out.
RISING WEDGE
USD/JPY
1H
There is a rising wedge revealed.
A rising wedge predicts a potential reversal in price action when price breakdown occurs.
Corrective downside towards 155.6 is on the cards on a breakout of the rising wedge.
RISING WEDGE
GBP/JPY 4H
As we can see a rising wedge is discovered and the price breaks out soon.
A rising wedge is considered to be a reliable bearish indicator that is used to identify reversals in uptrends if price breaks below support.
Gbpjpy turns bearish towards 208 on a break below 208.3.
FALLING WEDGE
GBP/USD
1H
We can see that a falling wedge is almost completed, the price is ready to break out.
When price breaks above resistance, the resulting move could predict that prices are likely to keep rallying upward.
Gbpusd to surge considerably to 1.338 as the currency pair nears 1.337 hurdle.
RECTANGLE
USD/CHF
1H
There is a rectangle materializing, the price expects a further move as a sign of a breakout.
A rectangle is a reliable pattern that can be used to indicate that the price to go long once price breaks above resistance.
Usdchf is bullish and en route towards 0.797 on a breakout of the rectangle amid the currency pair reclaims part of the ground lost.
PENNANT
EUR/USD
1H
There is a pennant developing.
A pennant signals that the price to go long when price breaks above resistance.
Eurusd could attempt a move to 1.176 as downside pressure mitigates.
DESCENDING TRIANGLE
NZD/USD 1H
It looks like a descending triangle is close to being completed, the price breaks out now.
A descending triangle describes a specific price signal that can be used to signal prices are likely to keep falling downward if price breaks through the support.
Nzdusd set to extend its decline to the 0.578 mark once below 0.5792.
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