MARKET ANALYSIS

EURUSD 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 1.1673 is expected in the short term.

NAS100 is approaching a resistance line at 25217.5801. 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.

EURUSD is moving towards a key resistance level at 1.1625. EURUSD has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

ETHUSD was identified at around 3898.53 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Triangle pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 4023.3311 level.

USDJPY has broken through a line of 152.1690 and suggests a possible movement to 153.5127 within the next 3 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 […]

NGC/USD recorded a considerable move in the last 3 days — one of its biggest in recent sessions.

EURUSD has breached the support line at 1.1598. It may continue the bearish trend towards 1.1531, or, it may prove to be yet another test of this level.

LTCUSD has broken through a support line of a Pennant and suggests a possible movement to 89.2287 within the next 20 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement back […]