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MARKET ANALYSIS

EURUSD is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 4 days.

EURUSD is trapped in a Rising 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 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 of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 1.1452 is expected in the short term.

BTCUSD has broken out of the Triangle pattern and is expected to reach 84439.7459 soon.

BTCUSD has broken through a support line of the Triangle chart pattern. If this breakout holds, we may see the price of BTCUSD test 84439.7459 within the next 2 days. But don’t rush to trade. It has tested this line before, so confirm the breakout before taking any action.

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Support and resistance are fundamental concepts in technical analysis. NGC/USD is approaching an important price level at 4.5055—read what this could mean for the future.

A strong resistance level has been identified at 4.5055 on the 15 Minutes NGC/USD chart. NGC/USD is likely to test this level soon.

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An unusually large move was recorded for EURUSD. The magnitude of the move is exceptional.

EURUSD has moved higher by 0.58% from 1.151685 to 1.15838 in the last 15 hours.

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FTSE100 is currently testing the 9604.7500 level. Will the breakout continue, or will it reverse?

FTSE100 has broken through a line at 9604.7500. If this breakout holds, we could see the price of FTSE100 move toward 9659.9902 within the next 12 hours. However, don’t be too quick to trade. It has tested this line many times in the past, so confirm the breakout before placing any trades.

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XAUUSD is signaling a possible trend reversal on intraday charts, as the price fails to breach resistance.

XAUUSD is moving toward a support line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 5 days and may test it again within the next 17 hours.

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An important price level has been breached by USDJPY. This level has been tested numerous times before.

The price of USDJPY is heading toward 155.8160. Despite the recent breakout through 156.4650, it may struggle to gain momentum to reach the forecast price and could move back in the other direction. This has happened many times in the past, so watch for a possible bounce back.

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NAS100 is quickly approaching an important level it has tested many times before.

The price of NAS100 is heading back toward the resistance area. It may struggle to break through and could reverse direction. The price may eventually break through, but it typically retreats from the level several times before doing so.

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