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MARKET ANALYSIS

A possible move on BTCUSD as it heads towards support

BTCUSD is trapped in a Falling 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 resistance 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 106125.3479 is expected in the short term.

S&P500 is currently testing the 6946.9600 level. Will the breakout continue, or will it reverse?

S&P500 has broken through 6946.9600, which it has tested many times before. We have also seen it retrace from this level. If this new trend persists, S&P500 may be heading towards 6822.6382 within the next 3 days.

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A breach of 5066.8848 could signal the start of a bearish trend in XAUUSD.

The price of XAUUSD is heading toward 4833.3403. Despite the recent breakout through 5066.8848, it may struggle to gain momentum to reach the forecast price and could move back in the other direction. This has happened many times in the past, so watch for a possible bounce back.

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After testing support twice before, EURUSD has finally broken through. Can we expect a bearish trend to follow?

A breakout of EURUSD through the support line of a Triangle could signal what’s ahead. If the breakout persists, we may see EURUSD’s price test 1.1842 within the next 2 days.

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An important support line is being approached by FTSE100. This price has been tested numerous times in the last 24 days

An emerging Rising Wedge pattern in its final wave has been identified on the FTSE100 4 hour chart. After a strong bearish run, FTSE100 is heading toward the upper triangle trendline, with possible resistance at 10110.2750. If the support holds, the Rising Wedge pattern suggests a rebound toward current levels.

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After repeatedly testing the 153.4405 level, USDJPY is once again approaching it. Should we expect a bullish trend to follow?

USDJPY is approaching a resistance line at 153.4405. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may return to current levels.

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A breach of 114.9285 could signal the start of a bullish trend in XAGUSD.

XAGUSD has broken through a resistance line. Because it has previously retraced from this price, you should wait for confirmation of the breakout before trading. It has touched this line multiple times over the past 2 days, which suggests a possible target around 120.9679 within the next 8 hours.

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NAS100 is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 8 days.

An emerging Channel Up pattern has been detected for NAS100 on the 1 hour chart. There may be a move toward 26594.9948 in the next few candles. Once it reaches the resistance, it may continue its bullish run or revert to current price levels.

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