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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.

An unexpectedly large move occurred on the NGC/USD Daily chart. The shift stands out in recent activity.

NGC/USD has moved lower by 33.83% from 5.686 to 3.7625 in the last 13 days.

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A Rising Wedge has formed, and BRN/USD is approaching resistance. Should we expect a breakout and the start of a new trend, or a reversal?

A Rising Wedge pattern was identified for BRN/USD at 69.774, suggesting it may move toward the support line at 69.1426. It may break through that line and continue the bearish trend, or reverse from it.

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ETHUSD is heading toward a price it has tested 3 times recently.

A strong resistance level has been identified at 2016.8300 on the 15 Minutes ETHUSD chart. ETHUSD is likely to test this level soon.

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There may be a significant move in XAGUSD following a breach of support.

This trade setup on XAGUSD formed after a period of consolidation, during which the price moved mostly sideways before choosing a longer-term direction. Following the bearish breakout through support, the price could move toward 77.5370.

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Big bearish swing in BTCUSD – this may be one of its more notable moves in the latest session.

A movement of 4.71% over 18 hours on BTCUSD does not go unnoticed. You may want to consider where it is heading next: a continuation of the current downward trend or a reversal of the prior trend.

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NAS100 is approaching a price it has tested 6 times recently.

NAS100 is heading toward 25052.8320 and could reach this level within the next 2 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.

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USDJPY is approaching a resistance line of a Channel Down. It has touched this line numerous times in the last 6 days.

USDJPY is heading toward the resistance line of a Channel Down pattern and could reach it within the next 17 hours. 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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