XAGUSD is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If XAGUSD continues in its current trajectory, we could see it reach 37.7786 within the next 13 hours.
The price of LTCUSD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
A strong support level has been breached at 147.6935 on the 1 hour USDJPY chart. Technical Analysis theory forecasts a movement to 146.5455 in the next 3 days.
FTSE100 is approaching a support line at 8947.0098. If it hits the support line, it may break through this level to continue the bearish trend, or it may turn around back to current levels.
USDJPY is approaching the support line of a Channel Up. It has touched this line numerous times in the last 3 days. If it tests this line again, it should do so in the next 20 hours.
Emerging Falling Wedge pattern in its final wave was identified on the XAUUSD 1 hour chart. After a strong bearish run, we find XAUUSD heading towards the upper triangle line with a possible resistance at 3237.8806. If the support shows to hold, the Falling Wedge pattern suggests a rebound back towards current levels.
A strong support level has been identified at 9090.7998 on the 1 hour FTSE100 chart. FTSE100 is likely to test it soon.
This trade setup on ETHUSD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 3585.9367.
