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MARKET ANALYSIS

Because FTSE100 formed a Channel Up pattern, we expect it to touch the support line. If it breaks through support it may move much lower

FTSE100 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 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 8637.3486 is expected in the short term.

XAGUSD has broken through a level it has tested 4 times recently.

XAGUSD has broken through a line at 83.5743. If this breakout holds, we could see the price of XAGUSD move toward 79.6348 within the next 2 days. However, don’t be too quick to trade. It has tested this line many times in the past, so confirm the breakout before placing any trades.

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FTSE100 is heading toward a price it has tested 4 times recently.

FTSE100 is approaching a resistance line at 10363.5498. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may return to current levels.

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BTCUSD may be at the start of a new bullish trend after breaking through this important resistance level.

BTCUSD is once again retesting a key horizontal resistance level at 71902.8125. This level has been tested 3 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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EURUSD has formed a Falling Wedge on the 1 hour chart. A retest of support is in sight.

A Falling Wedge pattern was identified for EURUSD at 1.15112, suggesting it may move toward the support line at 1.1477. It may break through that line and continue the bearish trend, or reverse from it.

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BRN/USD moves higher to 91.745 in the last 23 days.

BRN/USD has moved higher by 35.87% from 67.5235 to 91.745 in the last 23 days.

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USDJPY is approaching the support line of a Rising Wedge pattern. We anticipate either a breakout through this line or a rebound.

The movement of USDJPY toward the support line of a Rising Wedge is yet another test of the line it has reached numerous times in the past. This test of the line could occur within the next 2 days, but it is uncertain whether it will result in a breakout through this line or simply […]

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A Ascending Triangle has formed, and NAS100 is approaching support. Should we expect a breakout and the start of a new trend, or a reversal?

NAS100 is heading toward the resistance line of a Ascending Triangle 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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