You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 108.4643 but consider reducing the size of your position as the price gets closer to that target.
A strong support level has been breached at 98114.2031 on the 1 hour BTCUSD chart. Technical Analysis theory forecasts a movement to 92940.6328 in the next 3 days.
XAGUSD is heading towards the support line of a Channel Down. If this movement continues, the price of XAGUSD could test 28.1125 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
A movement of 2.22% over 2 days on USDJPY doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current upward trend, or a reversal in the previous direction.
LTCUSD has broken through a line of 113.1300 and suggests a possible movement to 104.8330 within the next 3 days. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back […]
BRN/USD is about to retest a key horizontal support level near 72.5015. It has tested this level 6 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
The price of EURUSD in heading in the direction of 1.0336. Despite the recent breakout through 1.0472 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.
ETHUSD has broken through a support line. It has touched this line at least twice in the last 11 days. This breakout may indicate a potential move to 3801.0762 within the next 2 days. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before […]
