EURUSD is moving towards a support line. Because we have seen it retrace from this level in the past, we
XAGUSD is heading towards 32.0490 and could reach this point within the next 5 hours. 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.
The movement of ETHUSD towards 2839.3401 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 9 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
The price of LTCUSD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
Emerging Channel Down pattern in its final wave was identified on the BRN/USD 4 hour chart. After a strong bullish run, we find BRN/USD heading towards the upper triangle line with a possible resistance at 77.3795. If the resistance shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
FTSE100 is heading towards 8510.9004 and could reach this point within the next 17 hours. 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.
GBPJPY is moving towards a support 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 2 days and may test it again within the next 7 hours.
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