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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.

Resistance line breached by LTCUSD. This price has been tested at least twice before.

You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 114.7958 but consider reducing the size of your position as the price gets […]

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Because XAGUSD formed a Channel Up pattern, we expect it to touch the support line. If it breaks through support it may move much lower

An emerging Channel Up has been detected on XAGUSD on the 15 Minutes chart. There is a possible move towards 42.0964 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

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NAS100 – approaching a resistance line that has been previously tested at least twice in the past

Emerging Rising Wedge detected on NAS100 – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 23997.1994 and it is expected to move to 24153.4095.

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Bulls aim for 200.5449 after the GBPJPY triggered a bullish formation on the 1 hour chart

GBPJPY moved through the resistance line of a Ascending Triangle at 200.06207142857144 on the 1 hour chart. This line has been tested a number of times in the past and this breakout could mean an upcoming change from the current trend. It may continue in its current direction toward 200.5449.

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FTSE100 has broken through resistance of a Triangle. It has touched this line at least twice in the last 25 days.

FTSE100 moved through the resistance line of a Triangle at 9283.397692307693 on the 1 hour chart. This line has been tested a number of times in the past and this breakout could mean an upcoming change from the current trend. It may continue in its current direction toward 9325.7975.

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EURUSD is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 16 days.

Emerging Channel Up detected on EURUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 1.173975 and it is expected to move to 1.1814.

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If you’re short XAUUSD you should be aware that 3649.8000 has just been breached – a level tested 4 time in the past

XAUUSD has broken through a resistance line. Because we have seen it retrace from this price in the past, one should wait for confirmation of the breakout before trading. It has touched this line numerous times in the last 3 days and suggests a possible target level to be around 3664.0825 within the next 12 […]

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