You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 37.4780 but consider reducing the size of your position as the price gets closer to that target.
Emerging Channel Up pattern in its final wave was identified on the GBPJPY 30 Minutes chart. After a strong bullish run, we find GBPJPY heading towards the upper triangle line with a possible resistance at 197.6670. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
XAUUSD is moving towards a key resistance level at 3393.5049. XAUUSD has previously tested this level 3 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?
BRN/USD has broken through 68.0780 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, BRN/USD may be heading towards 65.7554 within the next 3 days.
ETHUSD is heading towards a line of 3885.9700. If this movement continues, the price of ETHUSD could test 3885.9700 within the next 3 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.
The breakout of EURUSD through the 1.1586 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, EURUSD could test 1.1668 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.
You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 37.4780 but consider reducing the size of your position as the price gets […]
USDJPY has broken through a line of 147.4525. If this breakout holds true, we could see the price of USDJPY heading towards 146.9438 within the next 10 hours. But don’t be so quick to trade, it has tested this line numerous times in the past, so you should probably confirm the breakout before placing any […]
