The structure resembles a descending triangle, but the lower trendline has a slight upward slope—this introduces wedge-like characteristics. • Price has broken below a previous support level and is now testing the lower boundary of the pattern. • This could lead to either a breakdown or a bullish reversal, depending on momentum and upcoming macro triggers.
This XAU/USD 1-hour chart shows a symmetrical triangle pattern forming, which typically signals a potential breakout as price compresses between converging trendlines Potential Scenarios: • Bullish Breakout: If the price breaks above the upper trendline (~3345–3350 area) with strong volume and RSI follow-through, the next targets could be: • Short-term:...
USDJPY bullish trend will continue, will have some corrections and keep going up