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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.

Because USDJPY has formed a Rising Wedge pattern, we expect it to touch the resistance line. If it breaks through the resistance, it may move much higher.

An emerging Rising Wedge has been detected on USDJPY. The pattern has not yet broken through support, but the price is expected to move up over the next few hours. At the time the pattern was found, the price was 159.7705, and it is expected to move to 160.1755.

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Consider a move on LTCUSD as it heads toward support.

LTCUSD was identified around 53.77 after recently rebounding off the resistance on the 15 Minutes interval. Ultimately, the stock’s price action has formed a Channel Down pattern. This squeeze may increase the chances of a strong breakout. The projected move could take the price to around 52.2720.

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GBPJPY has formed a Ascending Triangle on the 1 hour chart. A retest of resistance is in sight.

GBPJPY is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 5 days and may test it again within the next 2 days.

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A Channel Down has formed, and NGC/USD is approaching support. Should we expect a breakout and the start of a new trend, or a reversal?

NGC/USD is heading toward the resistance line of a Channel Down pattern and could reach it within the next 3 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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NAS100 has shown a consistent trend in one direction.

NAS100 posted 5 consecutive candles over the last 20 hours — an unusually large movement.

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EURUSD has broken through the support of a Channel Up. It has touched this line at least twice in the last 10 days.

A breakout of EURUSD through the support line of a Channel Up could signal what’s ahead. If the breakout persists, we may see EURUSD’s price test 1.1458 within the next 2 days.

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ETHUSD may be at the start of a new bearish trend after breaking through this important support level.

ETHUSD has broken through a line at 2087.0801. If this breakout holds, we could see the price of ETHUSD move toward 1962.2170 within the next 3 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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