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MARKET ANALYSIS

BTCUSD is approaching a support line of a Channel Down. It has touched this line numerous times in the last 5 days.

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 118108.4600 is expected in the short term.

GBPJPY breaks out of a Triangle trade setup. Will it continue this trend and hit the target price?

Triangle pattern identified on GBPJPY has broken through a resistance level, with price momentum continuing to move upward. This presents a solid trading opportunity, with the price expected to reach 214.2830 in the next 2.

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BRN/USD appears to be approaching resistance—a potential opportunity?

BRN/USD is approaching the line at 64.8140. If this move continues, the price of BRN/USD could test 64.8140 within the next 2 days. But do not rush to trade. It has tested this line many times in the past, so the move could be short-lived and end in a rebound.

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Consider a move on LTCUSD as it heads toward resistance.

LTCUSD is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 2 days and may test it again within the next 9 hours.

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USDJPY has broken through a level it has tested 4 times recently.

The price of USDJPY is heading toward 158.9628. Despite the recent breakout through 158.2810, it may struggle to gain momentum to reach the forecast price and could 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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BTCUSD is approaching a support line of a Channel Down. It has touched this line numerous times in the last 4 days.

BTCUSD is moving toward a support 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 BTCUSD continues on its current trajectory, it could reach 84518.4630 within the next 17 hours.

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If S&P500 touches 6988.4102, it may be time to take action.

The price of S&P500 is heading back toward the resistance area. It may struggle to break through and could reverse direction. The price may eventually break through, but it typically retreats from the level several times before doing so.

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An important price level is being approached by GBPJPY. This price level has been tested numerous times before.

GBPJPY is moving toward a key support level at 210.5175. GBPJPY has tested this level 5 times before, and on each occasion it has bounced off. Could this be the time it finally breaks through?

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