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MARKET ANALYSIS

A possible move on EURUSD as it heads towards resistance

EURUSD 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 support 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 1.0538 is expected in the short term.

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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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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