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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 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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NAS100 is approaching a support line of a Channel Down. It has touched this line numerous times in the last 22 days.

NAS100 is heading towards the support line of a Channel Down and could reach this point within the next 4 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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XAUUSD – approaching a support line that has been previously tested at least twice in the past

A Channel Up pattern was identified on XAUUSD at 2711.24, creating an expectation that it may move to the support line at 2695.9644. It may break through that line and continue the bearish trend or it may reverse from that line.

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S&P500 keeps moving closer towards 5891.7300. Will it finally breach this level?

A strong support level has been identified at 5891.7300 on the 30 Minutes S&P500 chart. S&P500 is likely to test it soon.

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