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MARKET ANALYSIS

A possible move on EURUSD as it heads towards support

EURUSD is trapped in a Falling Wedge 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 1.1408 is expected in the short term.

A final push possible on FTSE100 as it starts approaching a price line of 8805.9805.

FTSE100 is moving towards a line of 8805.9805 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 FTSE100 continues in its current trajectory, we […]

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Important support line being approached by LTCUSD. This price has been tested numerous time in the last 15 days

LTCUSD is approaching the support line of a Descending Triangle. It has touched this line numerous times in the last 15 days. If it tests this line again, it should do so in the next 3 days.

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If XAUUSD touches 3379.3840 it may be time to take action.

XAUUSD is moving towards a support line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 6 days and may test it again within the next […]

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EURUSD is approaching 1.1551. We expect either a breakout through this line, or a rebound.

EURUSD is approaching a resistance line at 1.1551. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

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After testing the support line numerous times, S&P500 is once again approaching this line. Can we expect a bearish trend to follow?

Emerging Descending Triangle detected on S&P500 – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 5994.16 and it is expected to move to 5916.7489.

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

A Rising Wedge pattern was identified on USDJPY at 144.9045, creating an expectation that it may move to the resistance line at 145.3541. It may break through that line and continue the bullish trend or it may reverse from that line.

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BTCUSD is currently testing a level of 106573.0313. Will the breakout continue or will things reverse?

The breakout of BTCUSD through the 106573.0313 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, BTCUSD could test 109867.4688 within the next 3 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.

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