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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.

A possible move on BRN/USD as it heads towards resistance

An emerging Rising Wedge has been detected on BRN/USD on the 4 hour chart. There is a possible move towards 72.7340 next few candles. Once reaching support it may continue its bullish run or reverse back to current price levels.

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USDJPY – approaching a resistance line that has been previously tested at least twice in the past

The movement of USDJPY towards the resistance line of a Channel Up 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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Breach of 84760.9766 could mean a start of a bullish trend on BTCUSD

BTCUSD has broken through a line of 84760.9766. If this breakout holds true, we could see the price of BTCUSD heading towards 87253.0938 within the next 3 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so you should probably confirm the breakout before placing any […]

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NAS100 keeps moving closer towards 19912.6953. Will it finally breach this level?

NAS100 is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 3 days and may test it again within the next […]

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An unexpected large move has occurred on EURUSD Daily chart! Is this a sign of something new? What can we expect?

Those of you that are trend followers are probably eagerly watching EURUSD to see if its latest 5.16% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 21 days move.

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BRN/USD likely to test 71.0305 in the near future. Where to next?

BRN/USD is moving towards a key support level at 71.0305. BRN/USD has previously tested this level 6 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

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ETHUSD is quickly approaching a very important level it has previously tested numerous times in the past

A strong support level has been identified at 1870.4301 on the 30 Minutes ETHUSD chart. ETHUSD is likely to test it soon.

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