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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.

Because FTSE100 formed a Pennant pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

FTSE100 is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If FTSE100 continues in its current trajectory, we could see it […]

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NGC/USD is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

NGC/USD is approaching the support line of a Channel Up. It has touched this line numerous times in the last 2 days. If it tests this line again, it should do so in the next 5 hours.

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

GBPJPY is heading towards the support line of a Channel Down 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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A possible move on XAUUSD as it heads towards resistance

XAUUSD is heading towards the resistance line of a Channel Up 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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Because ETHUSD formed a Channel Down pattern, we expect it to touch the support line. If it breaks through support it may move much lower

A Channel Down pattern was identified on ETHUSD at 3253.31, creating an expectation that it may move to the support line at 3001.6918. It may break through that line and continue the bearish trend or it may reverse from that line.

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Could a large bullish move on FTSE100 be a sign of things to come?

FTSE100 has experienced an extremely big movement in last 29 days. It may continue the trend, but this would make the move unprecedented in the recent past.

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USDJPY – approaching a resistance line that has been previously tested at least twice in the past

An emerging Rising Wedge has been detected on USDJPY on the 15 Minutes chart. There is a possible move towards 156.6915 next few candles. Once reaching support it may continue its bullish run or reverse back to current price levels.

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