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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.

LTCUSD is approaching a support line of a Rectangle. It has touched this line numerous times in the last 4 days.

An emerging Rectangle pattern has been detected for LTCUSD on the 1 hour chart. There may be a move toward 52.0100 in the next few candles. Once it reaches the support, it may continue its bearish run or revert to current price levels.

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EURUSD has formed a Falling Wedge on the 30 Minutes chart. A retest of support is in sight.

EURUSD is heading toward the support line in a Falling Wedge pattern. If this move continues, the price of EURUSD could test 1.1726 within the next 7 hours. It has tested this line many times before, so the move could be short-lived and may rebound as it has before.

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NAS100 has broken through a level it has tested 6 times recently.

The breakout of NAS100 through the 24699.4395 price line is a breach of an important psychological price level that it has tested numerous times in the past. If this breakout persists, NAS100 could test 24409.5957 within the next 2 days. One should always be cautious before placing a trade and wait for confirmation of the […]

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LTCUSD reached 55.32 after an 6.47% move spanning 17 hours.

LTCUSD has moved higher by 6.47% from 51.96 to 55.32 in the last 17 hours.

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USDJPY broke through 156.15434615384618. Is this confirming a breakout? Will it continue along the current trend toward 156.3917?

USDJPY has broken through a resistance line of the Triangle chart pattern. If this breakout holds, we may see the price of USDJPY test 156.3917 within the next 7 hours. But don’t rush to trade. It has tested this line before, so confirm the breakout before taking any action.

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BRN/USD is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 2 days.

BRN/USD is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 2 days and may test it again within the next 5 hours.

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FTSE100 recorded 9 consecutive 4-hour bullish candles.

After posting 9 consecutive bullish candles over 3 days, consider where FTSE100 may be headed next: a continuation of the current upward trend or a reversal.

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