Sohtionghum

Sohtionghum

USDSGD prints a big symmetrical triangle. Price is resisted by top of triangle. Although a symmetrical triangle can go both ways, it is prudent to consider the big trend which is down wards.

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Potential head and shoulder at top of big channel

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A throwback that finds support here will give bulls for this currency pair reason to go long.

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Silver price XAGUSD displays bullish signs in the form of a 'selling-climax'-like price action near to 52 week. This could be exhaustion on the part of sellers and potential for a double bottom bullish reversal setup. There is however also a flag-like pattern that suggests continuation of the near term down trend that started in November last year. Therefore there...

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AUDJPY has been consolidating in channel in the daily chart since October. Once we inspect the weekly chart, clear support indicates that this pair is likely to break upwards.

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See illustration

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This is a classical continuation chart pattern but can only be confirmed when the pattern is completed i.e. price breaks decisively above resistance line. Note the word decisive. The pattern fails if 1) price falls back below the resistance line revealing evidence of a false break 2) when price falls below the 'handle' 3) price action evolves into other chart...