Emerging Channel Up pattern in its final wave was identified on the GBPJPY 30 Minutes chart. After a strong bullish run, we find GBPJPY heading towards the upper triangle line with a possible resistance at 190.7346. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
XAGUSD is once again retesting a key horizontal resistance level at 36.6419. It has tested this level 4 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.
XAUUSD has broken through a line of 3321.0149 and suggests a possible movement to 3281.5408 within the next 2 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 […]
ETHUSD has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 2649.3828 may materialize within the next 23 hours.
Emerging Rising Wedge detected on BRN/USD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 69.843 and it is expected to move to 71.2309.
NAS100 is heading towards 22614.4590 and could reach this point within the next 11 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
After posting 5 consecutive bearish candles in 4 days, you may start considering where GBPJPY is heading next, a continuation of the current downward trend, or a reversal in the previous direction.
LTCUSD has breached the resistance line at 88.6100. It may continue the bullish trend towards 90.7920, or, it may prove to be yet another test of this level.
