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MARKET ANALYSIS

Important resistance line being approached by ETHUSD. This price has been tested numerous time in the last 14 days

ETHUSD 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 4078.7785 is expected in the short term.

Breach of support could mean a start of a bearish trend on NGC/USD

Triangle pattern identified on NGC/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 3.0401 in the next 5.

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NAS100 has broken out from the Rising Wedge pattern. Expect it to hit 21267.5038 soon.

This trade setup on NAS100 is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 21267.5038.

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XAGUSD breakout from a Triangle trade setup. Will it continue this trend to hit the target price?

This trade setup on XAGUSD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 31.5780.

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ETHUSD may be on a start of a new bearish trend after its breakout through this important support level

The price of ETHUSD in heading in the direction of 3524.1331. Despite the recent breakout through 3681.3000 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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EURUSD is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 18 days.

Emerging Rising Wedge detected on EURUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 1.05929 and it is expected to move to 1.0647.

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XAUUSD may be on a start of a new bullish trend after its breakout through this important resistance level

XAUUSD has broken through a line of 2649.7000 and suggests a possible movement to 2665.0120 within the next 17 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back […]

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If you’re short GBPJPY you should be aware of the rapidly approaching level of 192.6290

A strong resistance level has been identified at 192.6290 on the 1 hour GBPJPY chart. GBPJPY is likely to test it soon.

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