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MARKET ANALYSIS

FTSE100 – approaching a resistance line that has been previously tested at least twice in the past

FTSE100 is trapped in a Channel Up 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 8452.0889 is expected in the short term.

USDJPY formed a Rising Wedge on the 4 hour chart. Retest of resistance in sight.

The movement of USDJPY towards the resistance line of a Rising Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]

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NGC/USD has broken through a resistance line. It has touched this line numerous times in the last 8 days.

NGC/USD has breached the resistance line at 3.8555. It may continue the bullish trend towards 4.0474, or, it may prove to be yet another test of this level.

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

The movement of BTCUSD towards the support line of a Falling Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]

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

XAGUSD is moving towards a resistance 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 XAGUSD continues in its current trajectory, we could see it […]

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If you’re short S&P500 you should be aware of the rapidly approaching level of 5941.1201

S&P500 is approaching a resistance line at 5941.1201. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

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GBPJPY is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.

Emerging Channel Down detected on GBPJPY – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 195.404 and it is expected to move to 192.8130.

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BRN/USD has broken out from the Rising Wedge pattern. Expect it to hit 75.5746 soon.

Rising Wedge pattern identified on BRN/USD 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 75.5746 in the next 2.

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