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MARKET ANALYSIS

After testing the resistance line numerous times, BRN/USD is once again approaching this line. Can we expect a bullish trend to follow?

BRN/USD is trapped in a Channel Up 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 70.3663 is expected in the short term.

After repeatedly testing the 2.7195 level, NGC/USD is once again approaching it. Should we expect a bullish trend to follow?

NGC/USD is moving toward a resistance line. Because it has retraced from this level in the past, we may see either a breakout through this line or a rebound to current levels. It has touched this line multiple times over the last 15 days and may test it again within the next 3 days.

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Will USDJPY break through the resistance level it previously tested?

USDJPY is moving toward a resistance line. Because it has retraced from this level in the past, we may see either a breakout through this line or a rebound to current levels. It has touched this line multiple times over the last 5 days and may test it again within the next 12 hours.

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NAS100 has formed a Channel Up on the 4 hour chart. A retest of resistance is in sight.

An emerging Channel Up pattern in its final wave has been identified on the NAS100 4 hour chart. After a strong bullish run, NAS100 is heading toward the upper triangle trendline, with possible resistance at 28701.8878. If the resistance holds, the Channel Up pattern suggests a rebound toward current levels.

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After repeatedly testing the support line, XAGUSD is once again approaching it. Can we expect a bearish trend to emerge?

An emerging Falling Wedge pattern in its final wave has been identified on the XAGUSD 4 hour chart. After a strong bearish run, XAGUSD is heading toward the upper triangle trendline, with possible resistance at 71.6759. If the support holds, the Falling Wedge pattern suggests a rebound toward current levels.

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XAUUSD is likely to test 4686.9048 in the near future. Where to next?

XAUUSD is approaching the line at 4686.9048. If this move continues, the price of XAUUSD could test 4686.9048 within the next 5 hours. But do not rush to trade. It has tested this line many times in the past, so the move could be short-lived and end in a rebound.

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EURUSD is heading toward a price it has tested 3 times recently.

EURUSD is moving toward a level at 1.1764, which it has tested many times before. We have seen it retrace from this level before, so at this stage it isn’t clear whether it will break through this price or rebound again. If EURUSD continues on its current trajectory, we may see it move toward 1.1764 […]

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After numerous attempts, S&P500 finally breaks through 7148.6401!

The price of S&P500 is heading toward 7189.4180. Despite the recent breakout through 7148.6401, 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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