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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.

Important resistance line being approached by EURUSD. This price has been tested numerous time in the last 5 days

EURUSD is moving towards a resistance line. Because we have seen it retrace from this line before, 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 5 days and may test it again within the next 7 hours.

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After experiencing a 11.99% bullish move in the space of 31 days, nobody knows where FTSE100 is headed.

An unexpected large move has occurred on FTSE100 Daily chart beginning at 7677.0 and ending at 8597.81. Is this a sign of something new? What can we expect in the future?

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A Flag has formed, XAGUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

XAGUSD 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 XAGUSD continues in its current trajectory, we could see it […]

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If you’re long GBPJPY you should be aware that 190.7575 has just been breached – a level tested 3 time in the past

The price of GBPJPY in heading in the direction of 189.3802. Despite the recent breakout through 190.7575 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.

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Is the extremely large movement on XAUUSD a sign of things to come?

XAUUSD rose sharply for 4 days – which is an excessively big movement for this instrument; exceeding the 98% of past price moves. Even if this move is a sign of a new trend in XAUUSD there is a chance that we will witness a correction, no matter how brief.

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If you’re long ETHUSD you should be aware that 1780.0100 has just been breached – a level tested 4 time in the past

ETHUSD has broken through a line of 1780.0100. If this breakout holds true, we could see the price of ETHUSD heading towards 1731.8459 within the next 2 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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Big movement possible on S&P500 after a breach of 5610.4102

S&P500 is once again retesting a key horizontal support level at 5610.4102. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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