Open:
High:
Low:
Close:
RISING WEDGE
GBP/JPY 1H
As we can see a rising wedge is very close to being finished, the price breaks out.
A rising wedge provides a useful bearish price action formation that indicates a countertrend succeeding the current trend when price breaks out.
Gbpjpy looks south to the 212.8 zone while lower than 213.
RECTANGLE
AUD/USD
1D
A rectangle happens, audusd asks for an active bearish move as a clue of a breakout.
If price collapses through the support line, the resulting move could indicate extending an downtrend.
It is likely that a rangebound to 0.695 will form on impulse below 0.697.
DESCENDING TRIANGLE
NZD/USD 1H
It looks like a descending triangle comes out, the price breaks out soon.
Once price breaks out, the move could predict a bearish price action.
It is possible that a bearish move to 0.579 will be made.
DESCENDING CHANNEL
USD/JPY
4H
A descending channel has been determined and the price requires a further move as an information of a breakout.
A descending channel often identifies reversals in downtrends once price breaks out.
Usdjpy to peak to the 160 level as downside pressure alleviates.
PENNANT
NZD/USD 1H
A pennant has been distinguished, nzdusd calls for a next strong move as a signal of a breakout.
When price breakdown occurs, the resulting move could identify that the price to go short.
A bearish run towards 0.58 is a possibility on a breach of 0.5805.
PENNANT
NZD/USD 1H
Nzdusd forms a pennant, the price breaks out now.
If price breaks through the resistance, the move could spot the more likely potential of rising prices.
Nzdusd tests a move to the 0.583 zone as bulls look for entries.
DESCENDING CHANNEL
GBP/USD
1H
There is a descending channel poping up, the price breaks out.
A descending channel tends to be a technical price signal that often indicates extending an downtrend if price breaks through the support.
There is a probability of a further bearish continuation to 1.336 on a breach of 1.337.
SYMMETRICAL TRIANGLE
USD/CHF
1H
As we can see a symmetrical triangle comes out and the price is ready to break out.
Once price breaks above resistance, the resulting move could predict an extension in the upward direction.
Usdchf to continue higher towards 0.791 on impulse above 0.79 as risk reversal sheds bearish bias.
SYMMETRICAL TRIANGLE
NZD/USD 1H
There is a symmetrical triangle exposed and the price is ready to break out now.
A symmetrical triangle typically predicts a bearish price action once price breaks below support.
Nzdusd to increase bearish potential towards 0.581.
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