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DESCENDING TRIANGLE
AUD/USD
1H
As we can see a descending triangle develops and the price is about to break out soon.
A descending triangle is a reliable chart pattern that typically signals an extension in the downward direction if price breaks through the support.
It is not ruled out that a further bearish move towards the 0.703 mark will be made on a breakout of the descending triangle amid rising bets for the move.
PENNANT
AUD/USD
1H
There is a pennant emerging and the price requires a strong bullish move as evidence of a breakout.
A pennant is a technical chart signal that often identifies an extension in the upward direction once price breaks out to the the upside.
Audusd hints a change to the upside towards the 0.706 level while above 0.7056 as there is room for a upside correction.
RECTANGLE
AUD/USD
1D
There is a rectangle emerging.
A rectangle describes a reliable bearish price formation that typically identifies the bulls have run out of steam when price breaks out to the the downside.
Audusd accelerates losses to the 0.705 zone.
BEARISH RECTANGLE
AUD/USD
1H
It seems like a bearish rectangle has been noticed and audusd requests further steady pullback as evidence of a breakout.
A bearish rectangle identifies an extension in the downward direction when price breaks out to the the downside.
There is a possibility of a bearish push down towards the 0.711 mark on a break below 0.7118.
FALLING WEDGE
AUD/USD
1H
Audusd builds a falling wedge and the price is ready to break out.
A falling wedge often results in a potential bullish reversal in price action in case if price breaks through the resistance.
Audusd challenges a move to the 0.713 mark.
BEARISH RECTANGLE
AUD/USD
1H
It seems like a bearish rectangle turns up.
A bearish rectangle spots a bearish price move once price breaks through the support.
A bearish run to 0.7125 is about to happen.
DESCENDING CHANNEL
AUD/USD
1H
There is a descending channel diagnosed, audusd requires a next move for the certainty of breakout.
In case if price breaks above resistance, the resulting move could indicate that the price to go long.
Audusd does not rule out a move towards 0.714.
ASCENDING CHANNEL
AUD/USD
1D
Audusd creates an ascending channel.
An ascending channel often results in a change in the prevailing trend once price breaks through the support.
It is not ruled out that a bearish run to 0.71 will happen as audusd is at a brink of a bearish breakout.
DESCENDING TRIANGLE
AUD/USD
1H
There is a descending triangle turning up, the price is ready to break out.
A descending triangle is said to depict a specific price pattern that often identifies a bearish price action in case if price breaks out.
Audusd risks further decline towards the 0.7155 mark on a breach of 0.7158.
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