Daily Top Trade Setups: Advanced Forex, Indices, Commodities, and Stock Analysis

A Triangle has formed, NGC/USD is approaching support. Can we expect a breakout and the start of a new trend or a reversal?

Emerging Triangle pattern in its final wave was identified on the NGC/USD 4 hour chart. After a strong bullish run, we find NGC/USD heading towards the upper triangle line with a possible resistance at 3.1484. If the resistance shows to hold, the Triangle pattern suggests a rebound back towards current levels.

LTCUSD formed a Channel Up on the 1 hour chart. Retest of support in sight.

LTCUSD is heading towards the support line of a Channel Up. If this movement continues, the price of LTCUSD could test 128.4881 within the next 6 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.

Breach of resistance could mean a start of a bullish trend on USDJPY

This trade setup on USDJPY 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 150.6327.

FTSE100 is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 25 days.

FTSE100 is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If FTSE100 continues in its current trajectory, we could see it […]

XAGUSD – approaching a price line that has been previously tested numerous times in the past

XAGUSD is about to retest a key horizontal resistance level near 30.7100. It has tested this level 5 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.

A possible move on S&P500 as it heads towards resistance

S&P500 is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If S&P500 continues in its current trajectory, we could see it […]

GBPJPY is quickly approaching the support line of a Falling Wedge. We expect either a breakout through this line or a rebound.

Emerging Falling Wedge pattern in its final wave was identified on the GBPJPY 4 hour chart. After a strong bearish run, we find GBPJPY heading towards the upper triangle line with a possible resistance at 188.9980. If the support shows to hold, the Falling Wedge pattern suggests a rebound back towards current levels.

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