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MARKET ANALYSIS

A possible move on NGC/USD as it heads towards resistance

NGC/USD is trapped in a Rising 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 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 4.8121 is expected in the short term.

ETHUSD recorded 5 consecutive daily bullish candles over 6 days.

A rare candlestick sequence was recorded on the ETHUSD Daily chart, ending at 2346.6900.

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A breach of 7214.6802 could signal the start of a bearish trend in S&P500.

S&P500 has broken through a line at 7214.6802. If this breakout holds, we could see the price of S&P500 move toward 7178.7388 within the next 7 hours. However, don’t be too quick to trade. It has tested this line many times in the past, so confirm the breakout before placing any trades.

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A breach of 2.7365 could signal the start of a bullish trend in NGC/USD.

NGC/USD has broken through a line at 2.7365. If this breakout holds, we could see the price of NGC/USD move toward 2.7796 within the next 3 days. However, don’t be too quick to trade. It has tested this line many times in the past, so confirm the breakout before placing any trades.

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GBPJPY breaks out of a Triangle trade setup. Will it continue this trend and hit the target price?

Triangle pattern identified on GBPJPY has broken through a support level, with price momentum continuing to move downward. This presents a solid trading opportunity, with the price expected to reach 211.4635 in the next 11.

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NAS100 has broken through the support of a Rising Wedge. It has touched this line at least twice in the last 4 days.

This trade setup on NAS100 formed after a period of consolidation, during which the price moved mostly sideways before choosing a longer-term direction. Following the bearish breakout through support, the price could move toward 27703.0311.

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If you’re short BTCUSD, you should be aware that 79117.3828 has just been breached – a level tested 3 times in the past

BTCUSD has breached the resistance line at 79117.3828. It may continue the bullish trend toward 80796.3984, or it may be yet another test of this level.

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Support and resistance are fundamental concepts in technical analysis. EURUSD is approaching an important price level at 1.1676—read what this could mean for the future.

EURUSD is moving toward a level at 1.1676, which it has tested many times before. We have seen it retrace from this level before, so at this stage it isn’t clear whether it will break through this price or rebound again. If EURUSD continues on its current trajectory, we may see it move toward 1.1676 […]

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