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MARKET ANALYSIS

EURUSD is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 4 days.

EURUSD is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 1.1452 is expected in the short term.

Important resistance line being approached by EURUSD. This price has been tested numerous time in the last 9 days

EURUSD is heading towards the resistance line of a Rising Wedge and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

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Important resistance line being approached by XAGUSD. This price has been tested numerous time in the last 3 days

XAGUSD is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 3 days and may test it again within the next 5 hours.

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Will LTCUSD break through the support level it tested before?

LTCUSD is approaching a support line at 92.9100. If it hits the support line, it may break through this level to continue the bearish trend, or it may turn around back to current levels.

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USDJPY keeps moving closer towards 143.8530. Will it finally breach this level?

A strong support level has been identified at 143.8530 on the 30 Minutes USDJPY chart. USDJPY is likely to test it soon.

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FTSE100 is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 50 days.

FTSE100 was identified at around 8777.07 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 8923.2684 level.

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GBPJPY is signaling a possible trend reversal on the intraday charts with price not breaching support.

Emerging Channel Up detected on GBPJPY – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 196.1925 and it is expected to move to 198.1327.

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After trying numerous times in the past, NAS100 finally breaks 21531.2891!

The breakout of NAS100 through the 21531.2891 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, NAS100 could test 21964.3867 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.

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