The movement of BRN/USD towards the resistance line of a Flag is yet another test of the line it reached numerous times in the past. This line test could happen in the next 23 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current levels.
BRN/USD is heading toward 62.1120 and could reach this level within the next 2 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.
GBPJPY is moving toward a resistance line it has tested many times. It has retraced from this line before, so it’s unclear whether it will break through or rebound again. If GBPJPY continues on its current trajectory, it could reach 207.7151 within the next 3 days.
This trade setup on NGC/USD formed after a period of consolidation, during which the price moved mostly sideways before choosing a longer-term direction. Following the bearish breakout through support, the price could move toward 4.6522.
LTCUSD is trapped in a Rising Wedge formation, implying that a breakout is imminent. This is a strong trade setup for both trend and swing traders. It is now approaching a support line that has been tested before. Divergence watchers may be optimistic about a potential breakout, which could mark the start of a new […]
EURUSD has broken through a level at 1.1615, suggesting a possible move to 1.1675 within the next 4 days. It has tested this level numerous times in the past, so you should wait for confirmation of this breakout before taking any action. If the breakout does not confirm, we could see a retracement back to […]
S&P500 is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through this line or a rebound to current levels. It has touched this line numerous times in the last 14 days and may test it again within the next 3 days.
After posting 4 consecutive bullish candles over 4 days, consider where XAGUSD may be headed next: a continuation of the current upward trend or a reversal.
