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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.

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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XAUUSD through 2622.503333333333. Is this a confirming a breakout? Will it continue its path in the current trend toward 2644.2552?

Triangle pattern identified on XAUUSD has broken through a resistance level with the price momentum continuing to move in an upward direction. A solid trading opportunity continues with the price expected to reach 2644.2552 in the next 2.

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Support line breached by FTSE100. This price has been tested at least twice before.

The last 4 15 Minutes candles on FTSE100 formed a Rising Wedge pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 8094.2497.

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If you’re short USDJPY you should be aware that 157.3180 has just been breached – a level tested 3 time in the past

The price of USDJPY in heading in the direction of 157.9683. Despite the recent breakout through 157.3180 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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Important support line being approached by BTCUSD. This price has been tested numerous time in the last 2 days

An emerging Channel Up has been detected on BTCUSD on the 15 Minutes chart. There is a possible move towards 97948.7575 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

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XAGUSD heading towards a price it has tested 4 times in the recent past.

XAGUSD is moving towards a key resistance level at 29.7170. This is a previously tested level for XAGUSD. This could be a good trading opportunity, either at the spot price, or after breaching this level.

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