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PENNANT
USD/JPY
1H
A pennant is close to being done and usdjpy demands a further active bearish impulse as a clue of a breakdown.
A pennant tends to be a technical price action pattern that can be used to identify a move down in case if price breaks through the support.
Usdjpy to extend the fall to 156.4 on a break below 156.5 as the currency pair is at a brink of a bearish breakout.
FALLING WEDGE
GBP/USD
1H
Gbpusd shapes a falling wedge and the price expects a further bigger move as proof of a breakout.
A falling wedge is believed to be a bullish price indicator that results in a further move up once price breaks above resistance.
There is a probability of a bullish push up to 1.333 on a breach of 1.3325.
PENNANT
Crude Oil
USOIL
1H
A pennant materializes and the price is ready to break out now.
A pennant can be thought of as a technical chart indicator that results in a next move down if price breaks out to the the downside.
There is a possibility of corrective downside to 58 as bears look for entries.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
We can see that a descending channel is very close to being finished, the price breaks out now.
Once price breaks out to the the upside, the resulting move could spot a breakout higher.
Crude-oil to maintain its positive tone towards the 58.8 mark.
RECTANGLE
EUR/USD
1H
A rectangle is distinguished, the price requires a further active move to confirm a breakout.
A rectangle identifies a bullish price action signal that often predicts that the price will rally further once price breaks out.
Eurusd to peak towards the 1.1655 zone.
DESCENDING CHANNEL
GBP/USD
1H
As we can see a descending channel has been spotted.
A descending channel can be thought of as a useful bullish indicator that is used to signal a change in price direction once price breaks through the resistance.
It is not ruled out that a rangebound towards 1.333 will take place on impulse above 1.332 as the currency pair becomes supported.
RISING WEDGE
USD/JPY
1H
There is a rising wedge revealed, the price is ready to break out.
A rising wedge depicts a specific formation that is used to spot an extension in the downward direction in case if price breaks down.
It is possible that a further bearish move towards the 156.6 zone will happen on a breach of 156.65.
DESCENDING CHANNEL
EUR/USD
1H
There is a descending channel distinguished and the price is breaking out.
A descending channel is believed to be a bullish pattern that typically indicates a sharp rise in case if price breaks out to the the upside.
It is likely that a rangebound towards 1.164 will take place on a upside break as downside pressure mitigates.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge is discovered and the price is breaking out.
A rising wedge typically indicates an extension in the downward direction in case if price breakdown occurs.
Gold to experience further corrective weakness towards 4200 while lower than 4212.
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