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PENNANT
USD/JPY
1H
A pennant materializes and the price asks for a bit more consolidation as evidence of a breakout.
A pennant is considered to be a useful bullish price action formation that signals that the price to go long once price breaks above resistance.
It is not ruled out that a bullish continuation to the 158 zone will take place on a breach of 157.92 as door open for a test of 158.
RISING WEDGE
USD/CAD 1H
As we can see the price shows a rising wedge.
A rising wedge can be thought of as a compelling bearish chart signal that is used to spot a bullish-to-bearish trend reversal once price breakdown occurs.
It is likely that a bearish continuation to 1.396 will happen on a breakdown of the rising wedge.
DESCENDING TRIANGLE
GBP/USD
1H
Gbpusd sets up a descending triangle, the price is ready to break out.
A descending triangle typically spots a bullish price move when price breaks out.
It is likely that a bullish continuation towards the 1.341 level will be made.
RISING WEDGE
USD/JPY
1H
It seems like usdjpy shows a rising wedge.
A rising wedge tends to be a reliable price pattern that has an upward slope that can be used to signal a break in the price direction once price breaks out.
Usdjpy risks potential downside towards the 157.8 mark.
PENNANT
GBP/JPY 1H
It looks like a pennant is distinguished.
A pennant is a compelling bearish price formation that can be used to predict prices are likely to keep falling downward if price breaks below support.
It is possible that decline towards the 211.4 zone will happen on a break below 211.6.
DESCENDING CHANNEL
EUR/USD
1D
It looks like the price forms a descending channel.
In case if price breaks out, the resulting move could predict a bullish move.
Eurusd hints a change to the upside to 1.13.
RECTANGLE
GBP/USD
1D
A rectangle is exposed.
A rectangle provides a specific price action signal that often results in that the price will rally further when price breaks above resistance.
Gbpusd looks ready to further extend its gains to the 1.345 level on a break above 1.342 as extra rangebound not ruled out.
ASCENDING CHANNEL
NZD/USD 1H
There is an ascending channel poping up and the price demands a strong move as an information of a breakdown.
An ascending channel typically identifies a next move down in case if price breaks through the support.
A bearish run towards the 0.561 mark is probable on a breakdown of the ascending channel.
RECTANGLE
USD/CHF
1D
There is a rectangle materializing, usdchf lacks a bigger move as an information of a breakout.
A rectangle describes a useful pattern that often identifies a sharp decline when price breaks below support.
A rangebound to the 0.815 mark is probable.
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