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MARKET ANALYSIS

Rising Wedge pattern identified on ETHUSD has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 4345.3579 in the next 2.

USDJPY just posted a 1.58% move over the past 3 days – a move that won’t go unnoticed by any trading style.

XAUUSD just posted a 16.81% move over the past 48 days – a move that won’t go unnoticed by any trading style.

Rising Wedge pattern identified on ETHUSD has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 4345.3579 in the next 2.

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 bearish breakout through support, it seems to suggest that we could see the next price move to 1.1636.

BTCUSD is about to retest a key horizontal support level near 122113.6172. It has tested this level 4 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 strong resistance level has been identified at 66.1425 on the 30 Minutes BRN/USD chart. BRN/USD is likely to test it soon.

GBPJPY has moved higher by 1.44% from 198.0755 to 200.9225 in the last 3 days.