Open:
High:
Low:
Close:
RECTANGLE
GBP/USD
1H
A rectangle forms and gbpusd demands a further move as an indication of a breakout.
A rectangle is believed to be a compelling price action signal that often results in that the price to go up once price breaks above resistance.
A rangebound towards 1.335 looks probable on a breach of 1.3344.
DESCENDING CHANNEL
Gold
XAU/USD
1H
There is a descending channel happening.
A descending channel is said to depict a chart formation that is used to indicate a bullish price action if price breaks above resistance.
There is a probability of a further bullish continuation to 4100 on a breakout of the descending channel.
FALLING WEDGE
EUR/USD
1H
We can see that a falling wedge has been recognized, the price demands a further bullish impulse as an information of a breakout.
A falling wedge identifies a useful chart formation that identifies a move up once price breaks through the resistance.
Eurusd to look for a further push towards the 1.14 zone on a breakout of the falling wedge.
BULLISH FLAG
GBP/USD
4H
We can see that a bullish flag develops, gbpusd wants a further bigger bullish move as a sign of a breakout.
A bullish flag represents a bullish formation that spots a further move up once price breaks through the resistance.
It is likely that a move to 1.34 will occur as weakness seen overdone.
ASCENDING CHANNEL
USD/JPY
4H
There is an ascending channel detected.
An ascending channel can be thought of as a bearish chart indicator that indicates an upward trend is nearing its end if price breaks out.
It is likely that extra downside towards the 163 level will form on a breach of 163.6.
ASCENDING TRIANGLE
USD/JPY
1H
There is an ascending triangle exposed and the price is about to break out.
Once price breakdown occurs, the move could indicate the more likely potential of falling prices.
There is a probability of a bearish continuation towards 163.65 on a breakout of the ascending triangle as door open for a test of 163.65.
FALLING WEDGE
Bitcoin
BTC/USD
4H
As we can see the price builds a falling wedge.
If price breaks through the resistance, the move could predict that the price to go long.
There is a probability of a bullish price action to the 65000 zone on a breakout of the falling wedge as weakness seen overdone.
RISING WEDGE
Ethereum
ETH/USD
1H
There is a rising wedge revealed, the price requires a further strong move as a clue of a breakout.
A rising wedge suggests a useful bearish signal that often identifies that the price to go short once price breaks through the support.
Ethusd to increase bearish potential towards the 1870 mark on a breakdown of the rising wedge as upside pressure seen easing.
RISING WEDGE
Bitcoin
BTC/USD
1H
We can see that a rising wedge is close to being finished.
Once price collapses through the support line, the move could identify an extension in the downward direction.
Btcusd is at risk of extending its slump to the 64400 zone.
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