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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.

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

This trade setup on EURUSD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 1.1636.

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BTCUSD seems to be on its way to support – a possible opportunity?

BTCUSD is about to retest a key horizontal support level near 122113.6172. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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If you’re short BRN/USD you should be aware of the rapidly approaching level of 66.1425

A strong resistance level has been identified at 66.1425 on the 30 Minutes BRN/USD chart. BRN/USD is likely to test it soon.

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GBPJPY experienced a very large 3 days bullish move to 200.9225.

GBPJPY has moved higher by 1.44% from 198.0755 to 200.9225 in the last 3 days.

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NGC/USD is approaching 3.2395. We expect either a breakout through this line, or a rebound.

NGC/USD is heading towards 3.2395 and could reach this point within the next 16 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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After testing the resistance line numerous times, S&P500 is once again approaching this line. Can we expect a bullish trend to follow?

Emerging Rising Wedge 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 6752.12 and it is expected to move to 6796.5730.

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ETHUSD is signaling a possible trend reversal on the intraday charts with price not breaching support.

Emerging Rising Wedge detected on ETHUSD – 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 4721.14 and it is expected to move to 4804.6722.

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