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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.

A final push possible on BRN/USD as it starts approaching a price line of 65.0960.

BRN/USD is heading towards a line of 65.0960. If this movement continues, the price of BRN/USD could test 65.0960 within the next 2 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.

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Because GBPJPY formed a Falling Wedge pattern, we expect it to touch the support line. If it breaks through support it may move much lower

GBPJPY is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBPJPY continues in its current trajectory, we could see it […]

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Resistance line breached by NAS100. This price has been tested at least twice before.

You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 21449.7631 but consider reducing the size of your position as the price gets […]

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XAUUSD is approaching a support line of a Channel Down. It has touched this line numerous times in the last 9 days.

XAUUSD is approaching the support line of a Channel Down. It has touched this line numerous times in the last 9 days. If it tests this line again, it should do so in the next 2 days.

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A possible move on BTCUSD as it heads towards resistance

BTCUSD is approaching the resistance line of a Channel Down. It has touched this line numerous times in the last 4 days. If it tests this line again, it should do so in the next 21 hours.

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Important price line being approached by S&P500. This price has been tested numerous times before.

S&P500 is moving towards a key resistance level at 5923.4502. This is a previously tested level for S&P500. This could be a good trading opportunity, either at the spot price, or after breaching this level.

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Important resistance line being approached by EURUSD. This price has been tested numerous time in the last 9 days

EURUSD is heading towards the resistance line of a Rising Wedge and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

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