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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.
PENNANT
USD/JPY
1H
There is a pennant found and the price requires a next bigger bullish impulse to confirm pennant breakout.
If price breaks above resistance, the move could spot an extension in the upward direction.
It is likely that a bullish continuation to the 163.9 mark will take place.
ASCENDING CHANNEL
Bitcoin
BTC/USD
1H
An ascending channel is close to being complete, the price expects next strong pullback as a signal of a breakdown.
An ascending channel is said to depict a technical price action formation that results in a countertrend succeeding the current trend in case if price breaks below support.
There is a probability of a bearish price action towards 64400 on a break below 64500 as door open for a test of 64400.
BULLISH FLAG
USD/JPY
1H
There is a bullish flag determined.
A bullish flag denotes a reliable bullish price pattern that is angled down that is used to indicate a bullish price action if price breaks above resistance.
Usdjpy turns bullish to the 163.9 mark on a breach of 163.8.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel revealed and the price demands a next move to confirm a breakdown.
An ascending channel typically predicts an upward trend is nearing its end once price breaks out.
There is a probability of corrective downside to the 4060 mark as the commodity probes 4075 hurdle.
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