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EUR\CAD Bullish Megaphone will Break the 1.600 Resistance

EUR\CAD has created a Bullish Megaphone Pattern at the 4-hour chart. This pattern usually leads to a breakout upwards, and in this case it will lead to breakout of the 1.6000 Resistance level. Trades will be initiated at the bottom of the Megaphone at the lower trend line. The Megaphone can also be confirmed using a Fibonacci Retracement that also indicates a breakout upwards.

USDJPY Analysis: Possible Bullish Reversal

USD\JPY Analysis Wedge Pattern Reversal

As easily seen in the daily and 4-hour charts, the USD\JPY has been inside a very strong and continuous down trend. Several descending triangles patterns appeared at this pair and caused further bearish movements.

Megaphone Pattern at EUR\CAD

Megaphone Chart Pattern FOREX

AUDNZD: Bearish Megaphone

AUD\NZD Bearish Megaphone Chart Pattern

A bearish Megaphone chart pattern has appeared at the AUD\NZD exotic pair. The Megaphone chart pattern consists of two expanding trend lines that bound price action. The expansion movement suggests that the trend is not regular and is about to reverse.

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