Pattern: Rectangle on 4H within the 0.382 and 0.618 Fibonacci levels. Signal: (a) Bullish if the 4H MA50 (blue) breaks, (b) Bearish if the 4H MA200 (orange) breaks. Target: (a) 1.14000 (the 0.786 Fibonacci retracement level, (b) 1.08000 (just above the the 1D Support).
Pattern: 4H Channel Down. Signal: Bullish as the pattern is testing the Lower Low trend line. Target: 1.10300 (right on the 4H MA50). *note: invalidation of pattern if 1.0940 breaks. In that case short to 1.08880. Recent signal on EURUSD:
Pattern: Channel Down on 4H. Signal: Bearish as the pattern broke below the former Higher Low trend line made a Death Cross and the 4H MA50 rejected the last spike. Target: 1.10400 and 1.1000 in extension.
Pattern: Ascending Channel on 1D. Signal: Bearish if the Higher Low trend line breaks (dashed line) and in extension if the Symmetrical Support 1 breaks. Target: 1.2800 (condition 1) and 1.2500 (condition 2) in extension.
Pattern: Channel Up on 1D. Signal: Bearish if the Higher Low trend line breaks (flag mark) as the price has been already rejected on the wider 1M Channel Down (bold channel). Target: 0.6700 (just below the 1D Support). If the 1D Support breaks we may see an extension on the 1M Channel Down towards a new Lower Low near 0.64000.
Pattern: 1H Head and Shoulders. Signal: Bearish as the price is testing the neckline's Resistance with pressure from the 1H MA50. Target: 1.11055 (potential contact with the MA200) and 1.10750 (1H Support).
Pattern: Channel Up on 1M. Signal: Bullish as the price is on the Higher Low zone of the Channel Up, supported by the 1D MA200. Target: 6.8500 (just below the 1W Resistance) and if the 1W R breaks 6.9300 (projected Higher High).
Pattern: Rectangle on 1D. Signal: Bearish as the same consolidation (February - April 2019) resulted in a strong Channel Down. Target: 1.2600 (short term) and 1.2250 (medium term).
Pattern: Channel Down on 1D. Signal: Bullish as the price rebounded on the 0.62000 1M (2015) Support. Target: 0.68000 (bottom of the Symmetrical 1M Resistance) once the Lower High trend line breaks.
Pattern: 1M Channel Down. Signal: Bearish as the price made a Lower High within the pattern. Target: 0.67000 (just above the 1D Support).
-GBPUSD is under pressure of all the brexit related pieces come out about everyday, potential threat to a deal one scenario is up as johnson is enduring many ways to hit it. Look for some pips on the pair and get out of the trade as its very volatile in the longer run due to brexit flames splashing all aound.
Pattern: 1W Channel Down. Signal: Bullish once the Channel makes a Lower Low near 1.10300 - 1.10000. Target: 1.1250 (above the MA50 and below the 1D Resistance).
Pattern: Head and Shoulders on 4H. Signal: Bearish as a Death Cross (MA50 under MA200) formed. Target: 1.11800 (4H Support) and 1.11150 (1D Support) in extension.
Pattern and Signal: Bearish after the price was rejected on the 1D Resistance. Target: 1.35000.
Pattern: Channel Up on 1D. Signal: Bullish after making a Higher Low. Target: 1.3300.