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MARKET ANALYSIS

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

BRN/USD 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 support 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 74.6770 is expected in the short term.

Because USDJPY formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

USDJPY 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 support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start […]

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

BRN/USD 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 support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start […]

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XAGUSD has broken through a resistance line. It has touched this line numerous times in the last 8 days.

The price of XAGUSD in heading in the direction of 30.1858. Despite the recent breakout through 29.7910 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.

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There is a possibility of a big movement on NAS100 after a breach of the support

The breakout of NAS100 through the support line of a Triangle could be a sign of the road ahead. If this breakout persists, we may see the price of NAS100 testing 21429.9757 within the next 2 days.

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GBPJPY – breach of a trending support line that has been tested at least twice before.

The last 11 1 hour candles on GBPJPY formed a Triangle pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 196.3530.

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Important support line being approached by BTCUSD. This price has been tested numerous time in the last 10 days

Emerging Rectangle detected on BTCUSD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 95098.08 and it is expected to move to 92656.9988.

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S&P500 formed a Pennant on the 4 hour chart. Retest of resistance in sight.

Emerging Pennant detected on S&P500 – 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 6044.65 and it is expected to move to 6115.4050.

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