GBPJPY is once again retesting a key horizontal resistance level at 198.0620. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
An emerging Rising Wedge pattern in its final wave has been identified on the XAUUSD 1 hour chart. After a strong bullish run, XAUUSD is heading toward the upper triangle trendline, with possible resistance at 4651.5630. If the resistance holds, the Rising Wedge pattern suggests a rebound toward current levels.
An emerging Rising Wedge pattern in its final wave has been identified on the ETHUSD 1 hour chart. After a strong bullish run, ETHUSD is heading toward the upper triangle trendline, with possible resistance at 3530.3131. If the resistance holds, the Rising Wedge pattern suggests a rebound toward current levels.
EURUSD has broken through a resistance line. Since it has previously retraced from this price, wait for confirmation of the breakout before trading. It has touched this line several times over the past 6 days. This suggests a possible target around 1.1677 within the next 17 hours.
FTSE100 was identified around 10172.6 after recently rebounding off the support on the 30 Minutes interval. Ultimately, the stock’s price action has formed a Channel Up pattern. This squeeze may increase the chances of a strong breakout. The projected move could take the price to around 10415.5831.
BRN/USD is moving toward a resistance 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 7 days and may test it again within the next 2 days.
An emerging Channel Up pattern in its final wave has been identified on the XAGUSD 1 hour chart. After a strong bearish run, XAGUSD is heading toward the upper triangle trendline, with possible resistance at 88.1277. If the support holds, the Channel Up pattern suggests a rebound toward current levels.
LTCUSD has broken through the support line of a Descending Triangle technical chart pattern. Because it has retraced from this line in the past, you should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 2 days, suggesting a possible target level around 74.5781 within […]
