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MARKET ANALYSIS

After testing the resistance line numerous times, BRN/USD is once again approaching this line. Can we expect a bullish trend to follow?

BRN/USD 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 70.3663 is expected in the short term.

NAS100 is approaching a resistance line that has been tested at least twice before

NAS100 is moving toward a resistance line it has tested many times. It has retraced from this line before, so it’s unclear whether it will break through or rebound again. If NAS100 continues on its current trajectory, it could reach 25048.5804 within the next 2 days.

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A Falling Wedge has formed, and EURUSD is approaching resistance. Should we expect a breakout and the start of a new trend, or a reversal?

EURUSD is moving toward a support line it has tested many times. It has retraced from this line before, so it’s unclear whether it will break through or rebound again. If EURUSD continues on its current trajectory, it could reach 1.1691 within the next 2 days.

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Consider a move on ETHUSD as it heads toward resistance.

ETHUSD 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 11 days and may test it again within the next 3 days.

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BRN/USD has broken through a level it has tested 4 times recently.

BRN/USD is once again retesting a key horizontal support level at 59.8610. This level has been tested 4 times recently and could see another bounce, as it did last time. However, after so many attempts, it may be ready to start a new trend.

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GBPJPY is signaling a possible trend reversal on intraday charts, as the price fails to breach support.

GBPJPY is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through this line or a rebound to current levels. It has touched this line numerous times in the last 2 days and may test it again within the next 8 hours.

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XAUUSD recorded 7 consecutive daily bullish candles.

XAUUSD saw a large number of bullish candles that reached 4307.8300 over 9 days.

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XAGUSD is signaling a possible trend reversal on intraday charts, as the price fails to breach support.

XAGUSD is heading toward the resistance line of a Channel Up pattern and could reach it within the next 2 days. It has tested this line numerous times before, and this time may be no different, ending in a rebound instead of a breakout. If a breakout doesn’t occur, we could see a retracement back […]

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