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MARKET ANALYSIS

The breakout of BRN/USD through the 76.3575 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, BRN/USD could test 77.5864 within the next 3 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.

BTCUSD experienced an extremely large move that lasted 9. This movement is in the 98.0 percentile and is uncommon. It is not unusual to witness a pullback after such a big movement.

A Channel Up pattern was identified on S&P500 at 6278.43, creating an expectation that it may move to the support line at 6261.2861. It may break through that line and continue the bearish trend or it may reverse from that line.

XAGUSD has broken through 36.9301 which it has tested numerous times in the past. We have seen it retrace from this price in the past. If this new trend persists, XAGUSD may be heading towards 37.4388 within the next 3 days.

EURUSD is moving towards a key resistance level at 1.1790. EURUSD has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

The movement of NAS100 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 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]

A Channel Up pattern was identified on GBPJPY at 199.141, creating an expectation that it may move to the support line at 198.3285. It may break through that line and continue the bearish trend or it may reverse from that line.

Emerging Channel Up pattern in its final wave was identified on the ETHUSD 4 hour chart. After a strong bullish run, we find ETHUSD heading towards the upper triangle line with a possible resistance at 2901.7000. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.