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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.

A Rising Wedge has formed, FTSE100 is approaching support. Can we expect a breakout and the start of a new trend or a reversal?

FTSE100 is heading towards the resistance line of a Rising Wedge and could reach this point within the next 12 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

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There is a possibility of a big movement on EURUSD after a breach of the resistance

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 bullish breakout through resistance, it seems to suggest that we could see the next price move to 1.1789.

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ETHUSD through 4530.271304347826. Is this a confirming a breakout? Will it continue its path in the current trend toward 4332.2671?

The breakout of ETHUSD through the support line of a Rising Wedge could be a sign of the road ahead. If this breakout persists, we may see the price of ETHUSD testing 4332.2671 within the next 2 days.

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After testing the support line numerous times, NAS100 is once again approaching this line. Can we expect a bearish trend to follow?

An emerging Channel Up has been detected on NAS100 on the 4 hour chart. There is a possible move towards 24590.9854 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

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GBPJPY – approaching a resistance line that has been previously tested at least twice in the past

GBPJPY is heading towards the resistance line of a Channel Down. If this movement continues, the price of GBPJPY could test 199.6436 within the next 3 days. 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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NGC/USD is signaling a possible trend reversal on the intraday charts with price not breaching support.

NGC/USD is heading towards the resistance line of a Falling Wedge. If this movement continues, the price of NGC/USD could test 3.1544 within the next 11 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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BTCUSD experienced a 3.4% bullish move in just 2 days. The magnitude speaks for itself.

BTCUSD reached 116813.1 after a 3.4% move spanning 2 days.

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