NGC/USD has broken through a line of 4.3090 and suggests a possible movement to 4.2140 within the next 10 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 2 days.
NAS100 is heading towards the resistance line of a Falling Wedge. If this movement continues, the price of NAS100 could test 20316.5039 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
GBPJPY is en route to a very important line that will be a definite deciding factor of what is to come! We may see this trajectory continue to touch and break through 188.1610, unless it runs out of momentum and pulls back to current levels.
XAUUSD is about to retest a key horizontal resistance level near 2927.9099. It has tested this level 5 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.
ETHUSD is heading towards 2074.2700 and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Emerging Channel Down detected on BRN/USD – 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 70.1825 and it is expected to move to 71.2242.
Those of you that are trend followers are probably eagerly watching FTSE100 to see if its latest 2.03% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 2 days move.
The last 3 1 hour candles on USDJPY formed a Triangle pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 147.5667.
