Open:
High:
Low:
Close:
RISING WEDGE
USD/JPY
1H
We can see that a rising wedge has been recognized, the price is breaking out.
If price collapses through the support line, the move could signal that the price to go down.
Usdjpy tests a move to 155.6 on a breach of 155.7.
PENNANT
USD/CAD 1H
A pennant is observed.
A pennant is a bullish indicator that often results in the bears have run out of steam once price breaks through the resistance.
It is not ruled out that a bullish price action towards the 1.379 level will occur.
DESCENDING CHANNEL
GBP/USD
4H
A descending channel happens.
A descending channel typically indicates a bullish move if price breaks above resistance.
Gbpusd to extend its advance to 1.344 while above 1.343.
PENNANT
USD/CHF
4H
A pennant occurs.
A pennant typically identifies an extension in the downward direction when price breaks down.
There is a chance of corrective downside to 0.792 on a breakout of the pennant.
DESCENDING CHANNEL
NZD/USD 4H
There is a descending channel noticed, the price lacks a bit more consolidation as proof of a breakout.
A descending channel is considered to be a reliable chart formation with a downward bias that is used to spot a change in price direction in case if price breaks out to the the upside.
Nzdusd to extend its advance to 0.58.
RISING WEDGE
EUR/USD
1H
A rising wedge is close to being finished.
A rising wedge describes a specific chart formation that has an upward slope that is used to identify extending an downtrend if price breaks below support.
It is possible that a bearish run towards the 1.173 level will occur on a breakdown of the rising wedge as bears looking for downside correction.
DESCENDING CHANNEL
AUD/USD
1H
A descending channel is close to being done and the price is ready to break out.
A descending channel results in that the price to go long when price breaks above resistance.
A bullish run to 0.662 stays on the cards on a breakout of the descending channel.
RISING WEDGE
EUR/USD
4H
We can see that the price forms a rising wedge and the price asks for a further move to confirm a breakdown.
When price breaks out to the the downside, the move could spot a move down.
Eurusd turns bearish to 1.17 once below 1.172.
FALLING WEDGE
AUD/USD
1H
There is a falling wedge appearing.
If price breaks above resistance, the resulting move could indicate that the price to go up.
Audusd to look for a further push to the 0.662 zone while above 0.661.
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