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Differences between the Foreign Exchange Market and Stock Market May 23, 2022
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Broadening Formation

Mira Team by Mira Team
December 19, 2020
in Forex Terms
Reading Time: 1 min read
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Definition – What does Broadening Formation mean?

A broadening formation is a chart pattern that is formed when the price of a currency pair sees increasing price action without a clear direction. The currency pair may see its value swing up and down, but no trend is established.

A broadening formation starts in a relatively tight range and continues to fan out, making a shape like a triangle with the apex to the left (early in the chart) and the base expanding out. For this reason, a broadening formation is also referred to as a megaphone.

ForexTerms explains Broadening Formation

Broadening formations are common in the periods immediately before and after news or economic releases. During this period, some retail and institutional traders react to the news by adjusting their trades, but the trend or overall market reaction to the event takes time before it is truly established.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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