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DESCENDING TRIANGLE
USD/CAD 1H
It seems like the price builds a descending triangle, the price calls for a next active move for clear breakout confirmation.
A descending triangle tends to be a specific bearish indicator that typically results in a bearish move when price breaks below support.
Usdcad to extend its slide towards 1.374.
ASCENDING TRIANGLE
AUD/USD
1H
It looks like an ascending triangle forms and the price breaks out.
An ascending triangle is considered to be a specific bullish price action formation that predicts a sharp rise once price breaks above resistance.
Audusd to move up to the 0.668 mark on a breakout of the ascending triangle as the currency pair nears 0.6674 hurdle.
FALLING WEDGE
USD/CAD 1H
There is a falling wedge distinguished and the price is about to break out.
A falling wedge typically predicts a temporary interruption of an existing trend in case if price breaks above resistance.
Usdcad to continue higher to 1.38.
DESCENDING CHANNEL
GBP/JPY 1H
We can see that the price establishes a descending channel.
A descending channel provides a technical bullish chart indicator that can be used to spot a change in price direction once price breaks through the resistance.
There is a chance of a bullish continuation towards the 208.6 level on a breach of 208.55 as downside pressure seen easing.
RISING WEDGE
NZD/USD 1H
The price builds a rising wedge and the price requires a further active move as a signal of a breakout.
A rising wedge depicts a technical formation with an upward bias that can be used to predict a bearish move in case if price breaks out to the the downside.
Nzdusd targets a move to 0.58 on a breakout of the rising wedge as nzdusd becomes weak.
PENNANT
AUD/USD
1H
Audusd builds a pennant and the price breaks out.
A pennant identifies a price action pattern that is used to identify a move down when price collapses through the support line.
Audusd looks for a setback towards the 0.666 level on a breach of 0.6664 as bears looking for downside correction.
ASCENDING CHANNEL
EUR/USD
1H
There is an ascending channel forming.
When price breaks through the support, the resulting move could spot that prices move counter to the prevailing price trend.
There is a probability of a bearish run to 1.172 once below 1.174 as outlook for eurusd stays negative.
FALLING WEDGE
GBP/JPY 1H
A falling wedge forms, the price needs a strong move as an indication of a breakout.
A falling wedge often signals a bullish move once price breaks out to the the upside.
A bullish run towards 208.6 is going to happen on a break above 208.4.
DESCENDING CHANNEL
USD/JPY
1H
There is a descending channel detected and usdjpy needs a next move as proof of a breakout.
A descending channel provides a bullish formation that can be used to predict a bullish price action when price breaks through the resistance.
It is possible that a rangebound towards 156 will form.
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