Triangle Chart Patterns Dominate on Major Currency Pairs

3 min read

EUR/USD

4 hour

18-05-2015eu4
The EUR/USD could be building a rising wedge chart pattern when looking at the angle of the resistance and support trend lines.

1 hour

18-05-2015eu1
The EUR/USD is running into a zone with heavy resistance such as the trend line (orange), round 1.15 level and Fibonacci numbers.

GBP/USD

4 hour

18-05-2015gu4
The GBP/USD is in a strong uptrend with many layers of support below it but the wave count indicates that the current wave A (blue) could be completed.

1 hour

18-05-2015gu1
The GBP/USD could be building a contracting wedge chart pattern when looking at the resistance and support trend lines.

USD/JPY

4 hour

18-05-2015uj4
The USD/JPY is in a contracting wedge chart pattern when looking at the resistance and support trend lines.

1 hour

18-05-2015uj1
The wave X (green) is invalidated as soon as price breaks above the origin of wave W (green) which is resembled by the orange resistance line.

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