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

Supports and resistances are primary concepts of technical analysis. GBPJPY is heading for an important price of 195.6010 – read about what this could mean for the future.

The movement of GBPJPY towards 195.6010 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 9 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

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

XAGUSD is trapped in a Falling Wedge 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 […]

Important support line being approached by USDJPY. This price has been tested numerous time in the last 3 days

USDJPY was identified at around 153.357 having recently rebounded of the resistance on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Falling Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 152.9883 level.

Because NAS100 formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

Emerging Channel Up pattern in its final wave was identified on the NAS100 1 hour chart. After a strong bullish run, we find NAS100 heading towards the upper triangle line with a possible resistance at 22387.8400. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.

A final push possible on BRN/USD as it starts approaching a price line of 72.5015.

BRN/USD is heading towards a line of 72.5015. If this movement continues, the price of BRN/USD could test 72.5015 within the next 3 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.

Because GBPJPY formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

A Channel Up pattern was identified on GBPJPY at 195.888, creating an expectation that it may move to the resistance line at 198.2835. It may break through that line and continue the bullish trend or it may reverse from that line.

A possible move by LTCUSD towards 108.4643

You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 108.4643 but consider reducing the size of your position as the price gets […]

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