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MARKET ANALYSIS

EURUSD is signaling a possible trend reversal on the intraday charts with price not breaching support.

EURUSD is trapped in a Ascending Triangle 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 1.0529 is expected in the short term.

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

GBPJPY is heading toward the resistance line in a Rising Wedge pattern. If this move continues, the price of GBPJPY could test 213.6970 within the next 13 hours. It has tested this line many times before, so the move could be short-lived and may rebound as it has before.

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FTSE100 is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 7 days.

FTSE100 is heading toward the resistance line of a Channel Up pattern and could reach it within the next 8 hours. It has tested this line numerous times before, and this time may be no different, ending in a rebound instead of a breakout. If a breakout doesn’t occur, we could see a retracement back […]

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EURUSD has broken through a level it has tested 3 times recently.

EURUSD has broken through a support line. Because it has previously retraced from this price, you should wait for confirmation of the breakout before trading. It has touched this line multiple times over the past 8 days, which suggests a possible target around 1.1740 within the next 8 hours.

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BRN/USD has formed a Falling Wedge on the 30 Minutes chart. A retest of support is in sight.

BRN/USD is moving toward a support line it has tested many times. It has retraced from this line before, so it’s unclear whether it will break through or rebound again. If BRN/USD continues on its current trajectory, it could reach 63.1494 within the next 12 hours.

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XAUUSD is heading toward a price it has tested 3 times recently.

A strong resistance level has been identified at 4881.5898 on the 15 Minutes XAUUSD chart. XAUUSD is likely to test this level soon.

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If you’re long on ETHUSD, be aware of the rapidly approaching level at 2264.1799.

ETHUSD is approaching a critical level that could be a key deciding factor for what comes next. We may see this trajectory continue to test and break through 2264.1799, unless it loses momentum and pulls back to current levels.

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S&P500 reached 6983.06 after an 1.88% move spanning 14 hours.

S&P500 recorded an exceptional 1.88% move over the last 14 hours. Whether you follow trends or look for reversals, this move is hard to ignore.

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