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MARKET ANALYSIS

BTCUSD – approaching a support line that has been previously tested at least twice in the past

BTCUSD is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance 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 106060.2568 is expected in the short term.

USDJPY is approaching a support line of a Channel Up. It has touched this line numerous times in the last 19 days.

USDJPY 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 19 days and may test it again within the next 2 days.

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NAS100 – breach of a trending support line that has been tested at least twice before.

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 25445.6219 within the next 2 days.

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Bulls aim for 47.6817 after the XAGUSD triggered a bearish formation on the 1 hour chart

XAGUSD has broken through a support line of a Rising Wedge and suggests a possible movement to 47.6817 within the next 2 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement […]

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If you’re long BTCUSD you should be aware of the rapidly approaching level of 109445.2109

BTCUSD is moving towards a support line. Because we have seen it retrace from this level in the past, 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 4 days and may test it again within the next […]

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After testing the resistance line numerous times, USDJPY is once again approaching this line. Can we expect a bullish trend to follow?

An emerging Rising Wedge has been detected on USDJPY on the 1 hour chart. There is a possible move towards 155.0917 next few candles. Once reaching support it may continue its bullish run or reverse back to current price levels.

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XAGUSD formed a Rising Wedge on the 15 Minutes chart. Retest of resistance in sight.

XAGUSD is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of XAGUSD could test 49.5418 within the next 13 hours. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

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Bulls aim for 111264.4263 after the BTCUSD triggered a bullish formation on the 30 Minutes chart

You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 111264.4263 but consider reducing the size of your position as the price gets […]

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