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The movement of FTSE100 towards the resistance line of a Channel Up is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]
Emerging Rising Wedge pattern in its final wave was identified on the ETHUSD 1 hour chart. After a strong bullish run, we find ETHUSD heading towards the upper triangle line with a possible resistance at 3978.7838. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
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 1.1646.
Falling Wedge pattern identified on XAUUSD has broken through a resistance level with the price momentum continuing to move in an upward direction. A solid trading opportunity continues with the price expected to reach 3344.6970 in the next 2.
NAS100 is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 11 days and may test it again within the next 2 days.
BTCUSD is about to retest a key horizontal resistance level near 119835.4375. It has tested this level 3 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.
