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MARKET ANALYSIS

NGC/USD has formed a Rising Wedge on the 4 hour chart. A retest of resistance is in sight.

NGC/USD is trapped in a Rising Wedge formation, implying that a breakout is imminent. This is a strong trade setup for both trend and swing traders. It is now approaching a support line that has been tested before. Divergence watchers may be optimistic about a potential breakout, which could mark the start of a new trend. This confluence could also create an ideal setup for swing traders looking for a potential bounce. Whatever happens, an initial move toward 4.9428 is expected in the short term.

NGC/USD has formed a Rising Wedge on the 4 hour chart. A retest of resistance is in sight.

NGC/USD is trapped in a Rising Wedge formation, implying that a breakout is imminent. This is a strong trade setup for both trend and swing traders. It is now approaching a support line that has been tested before. Divergence watchers may be optimistic about a potential breakout, which could mark the start of a new […]

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An important resistance line is being approached by GBPJPY. This price has been tested numerous times in the last 19 days

GBPJPY is heading toward the resistance line of a Channel Up pattern and could reach it within the next 3 days. It has tested this line numerous times before, and this time may be no different, ending in a rebound instead of a breakout. If a breakout doesn’t occur, we could see a retracement back […]

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

A Channel Up pattern was identified for EURUSD at 1.162915, suggesting it may move toward the resistance line at 1.1686. It may break through that line and continue the bullish trend, or reverse from it.

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XAGUSD has shown a consistent trend in one direction.

XAGUSD recorded an unusual number of bullish candles on the Daily timeframe.

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Support and resistance are fundamental concepts in technical analysis. ETHUSD is approaching an important price level at 3075.0200—read what this could mean for the future.

ETHUSD is heading toward 3075.0200 and could reach this level within the next 3 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.

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Support and resistance are fundamental concepts in technical analysis. BRN/USD is approaching an important price level at 62.1120—read what this could mean for the future.

BRN/USD is heading toward 62.1120 and could reach this level within the next 2 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.

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GBPJPY has formed a Channel Up on the 1 hour chart. A retest of resistance is in sight.

GBPJPY is moving toward a resistance line it has tested many times. It has retraced from this line before, so it’s unclear whether it will break through or rebound again. If GBPJPY continues on its current trajectory, it could reach 207.7151 within the next 3 days.

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