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MARKET ANALYSIS

GBPJPY is approaching a support line of a Channel Down. It has touched this line numerous times in the last 10 days.

GBPJPY is trapped in a Channel Down formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance 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 196.8253 is expected in the short term.

A Falling Wedge has formed, XAUUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

An emerging Falling Wedge has been detected on XAUUSD on the 30 Minutes chart. There is a possible move towards 3333.3035 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

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Breach of 116902.9219 could mean a start of a bearish trend on BTCUSD

BTCUSD has broken through a support line. It has touched this line numerous times in the last 13 days. This breakout shows a potential move to 114438.2188 within the next 3 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.

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If you’re long GBPJPY you should be aware of the rapidly approaching level of 198.1045

GBPJPY is moving towards a key support level at 198.1045. GBPJPY has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

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USDJPY is currently testing a level of 146.9530. Will the breakout continue or will things reverse?

USDJPY has broken through 146.9530 which it has tested numerous times in the past. We have seen it retrace from this price in the past. If this new trend persists, USDJPY may be heading towards 147.4848 within the next 10 hours.

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BRN/USD keeps moving closer towards 69.7445. Will it finally breach this level?

The price of BRN/USD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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Important support line being approached by FTSE100. This price has been tested numerous time in the last 3 days

An emerging Channel Up has been detected on FTSE100 on the 15 Minutes chart. There is a possible move towards 9109.2391 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

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EURUSD has broken through a resistance line. It has touched this line numerous times in the last 16 days.

The price of EURUSD in heading in the direction of 1.1836. Despite the recent breakout through 1.1765 it is possible that it will struggle to gain momentum to the forecast price and 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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