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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.

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

XAGUSD is approaching the support line of a Channel Up. It has touched this line numerous times in the last 26 days. If it tests this line again, it should do so in the next 2 days.

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BTCUSD seems to be on its way to support – a possible opportunity?

The price of BTCUSD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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Supports and resistances are primary concepts of technical analysis. EURUSD is heading for an important price of 1.0248 – read about what this could mean for the future.

EURUSD is moving towards a key support level at 1.0248. This is a previously tested level for EURUSD. This could be a good trading opportunity, either at the spot price, or after breaching this level.

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A Rising Wedge has formed, NAS100 is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

NAS100 is moving towards a support 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 NAS100 continues in its current trajectory, we could see it […]

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Will NGC/USD break through the support level it tested before?

NGC/USD is moving towards a key support level at 3.6635. NGC/USD has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

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Big movement possible on ETHUSD after a breach of 3366.9299

ETHUSD has broken through a line of 3366.9299. If this breakout holds true, we could see the price of ETHUSD heading towards 3549.2319 within the next 23 hours. But don’t be so quick to trade, it has tested this line numerous times in the past, so you should probably confirm the breakout before placing any […]

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EURUSD likely to test 1.0236 in the near future. Where to next?

EURUSD is moving towards a line of 1.0236 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If EURUSD continues in its current trajectory, we […]

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