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MARKET ANALYSIS

Because ETHUSD formed a Triangle pattern, we expect it to touch the support line. If it breaks through support it may move much lower

ETHUSD is trapped in a Triangle formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance 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 4267.3527 is expected in the short term.

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

The movement of NGC/USD towards the resistance line of a Rising Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]

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Important resistance line being approached by XAUUSD. This price has been tested numerous time in the last 4 days

A Channel Up pattern was identified on XAUUSD at 3647.505, creating an expectation that it may move to the resistance line at 3683.8223. It may break through that line and continue the bullish trend or it may reverse from that line.

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FTSE100 is quickly approaching the resistance line of a Rising Wedge. We expect either a breakout through this line or a rebound.

An emerging Rising Wedge has been detected on FTSE100 on the 1 hour chart. There is a possible move towards 9276.9750 next few candles. Once reaching support it may continue its bullish run or reverse back to current price levels.

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If USDJPY touches 146.7645 it may be time to take action.

The movement of USDJPY towards 146.7645 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

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BTCUSD formed a Ascending Triangle on the 4 hour chart. Retest of resistance in sight.

BTCUSD is heading towards the resistance line of a Ascending Triangle and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

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A possible move on XAGUSD as it heads towards resistance

XAGUSD was identified at around 40.9966 having recently rebounded of the support on the 1 hour data interval. Ultimately, the price action of the stock has formed a Ascending Triangle pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 41.3918 level.

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S&P500 – approaching a support line that has been previously tested at least twice in the past

S&P500 is moving towards a support 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 S&P500 continues in its current trajectory, we could see it […]

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