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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.

If EURUSD touches 1.1515, it may be time to take action.

The movement of EURUSD towards the 1.1515 price line is yet another test of a line it has reached numerous times in the past. We can expect this test to occur within the next 3 days, but it is uncertain whether it will result in a breakout through this line or simply rebound to current […]

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NGC/USD is approaching a support line of a Descending Triangle. It has touched this line numerous times in the last 50 days.

NGC/USD is moving toward a support 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 50 days and may test it again within the next 3 days.

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S&P500 reached 6474.98 after an 2.99% move spanning 4 days.

S&P500 just posted a 2.99% move over the past 4 days—a move unlikely to go unnoticed by any trading style.

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NAS100 has formed a Channel Down on the 1 hour chart. A retest of resistance is in sight.

NAS100 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 4 days and may test it again within the next 18 hours.

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Support and resistance are fundamental concepts in technical analysis. GBPJPY is approaching an important price level at 212.8815—read what this could mean for the future.

GBPJPY is about to retest a key horizontal resistance level near 212.8815. It has tested this level 6 times recently and may simply bounce off it, as it did last time. However, after so many attempts, it may be ready to start a new trend.

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

An emerging Channel Down pattern in its final wave has been identified on the XAGUSD 1 hour chart. After a strong bearish run, XAGUSD is heading toward the upper triangle trendline, with possible resistance at 56.9514. If the support holds, the Channel Down pattern suggests a rebound toward current levels.

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After repeatedly testing 54.4100, LTCUSD has finally broken through. Can we expect a bearish trend to follow?

LTCUSD has broken through 54.4100, which it has tested many times before. We have also seen it retrace from this level. If this new trend persists, LTCUSD may be heading towards 52.4400 within the next 3 days.

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