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

XAGUSD likely to test 37.2396 in the near future. Where to next?

XAGUSD is moving towards a key resistance level at 37.2396. This is a previously tested level for XAGUSD. This could be a good trading opportunity, either at the spot price, or after breaching this level.

LTCUSD heading towards a price it has tested 6 times in the recent past.

The price of LTCUSD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

If you’re long USDJPY you should be aware that 147.6935 has just been breached – a level tested 5 time in the past

A strong support level has been breached at 147.6935 on the 1 hour USDJPY chart. Technical Analysis theory forecasts a movement to 146.5455 in the next 3 days.

Will FTSE100 break through the support level it tested before?

FTSE100 is approaching a support line at 8947.0098. If it hits the support line, it may break through this level to continue the bearish trend, or it may turn around back to current levels.

USDJPY formed a Channel Up on the 30 Minutes chart. Retest of support in sight.

USDJPY is approaching the support line of a Channel Up. It has touched this line numerous times in the last 3 days. If it tests this line again, it should do so in the next 20 hours.

XAUUSD formed a Falling Wedge on the 1 hour chart. Retest of support in sight.

Emerging Falling Wedge pattern in its final wave was identified on the XAUUSD 1 hour chart. After a strong bearish run, we find XAUUSD heading towards the upper triangle line with a possible resistance at 3237.8806. If the support shows to hold, the Falling Wedge pattern suggests a rebound back towards current levels.

A final push possible on FTSE100 as it starts approaching a price line of 9090.7998.

A strong support level has been identified at 9090.7998 on the 1 hour FTSE100 chart. FTSE100 is likely to test it soon.

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