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MARKET ANALYSIS

A Channel Up has formed, XAUUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

XAUUSD 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 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 2731.2292 is expected in the short term.

A breach of support could signal the start of a bearish trend for EURUSD.

EURUSD has moved through the support line of a Triangle pattern at 1.17606 on the 4 hour chart. This line has been tested multiple times in the past, and this breakout could signal an upcoming change in the current trend. Price may continue in the current direction toward 1.1721.

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FTSE100 is quickly approaching an important level it has tested many times before.

FTSE100 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 13 days and may test it again within the next 13 hours.

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A large bullish move on XAUUSD.

XAUUSD experienced an unusual number of bullish candles on the Daily timeframe.

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

Triangle pattern identified on LTCUSD has broken through a support level, with price momentum continuing to move downward. This presents a solid trading opportunity, with the price expected to reach 56.9210 in the next 10.

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GBPJPY is likely to test 213.3265 in the near future. Where to next?

GBPJPY is approaching a support line at 213.3265. If it hits the support line, it may break through this level to continue the bearish trend, or it may return to current levels.

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An important resistance line is being approached by NAS100. This price has been tested numerous times in the last 5 days

NAS100 is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through this line or a rebound to current levels. It has touched this line numerous times in the last 5 days and may test it again within the next 15 hours.

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BRN/USD is approaching a support line of a Rising Wedge. It has touched this line numerous times in the last 5 days.

BRN/USD is moving toward a support line. Since it has retraced from this line before, we may see either a breakout through this line or a rebound to current levels. It has touched this line numerous times in the last 5 days and may test it again within the next 7 hours.

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