A Channel Up pattern was identified on XAGUSD at 31.187, creating an expectation that it may move to the support line at 30.8103. It may break through that line and continue the bearish trend or it may reverse from that line.
XAUUSD is heading towards the resistance line of a Channel Up. If this movement continues, the price of XAUUSD could test 2668.4056 within the next 7 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.
BRN/USD is heading towards 72.3395 and could reach this point within the next 3 days. 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.
ETHUSD is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start […]
BTCUSD is about to retest a key horizontal resistance level near 98976.5625. It has tested this level 7 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.
GBPJPY has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 192.1484 may materialize within the next 3 days.
By Kobus Steenekamp, CTO, Autochartist Don’t get me wrong, we love AWS, and we use a ton of great products
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