Emerging Channel Down pattern in its final wave was identified on the FTSE100 1 hour chart. After a strong bearish run, we find FTSE100 heading towards the upper triangle line with a possible resistance at 8659.6319. If the support shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
BTCUSD is heading towards the resistance line of a Channel Down. If this movement continues, the price of BTCUSD could test 103311.2990 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
XAUUSD is heading towards the resistance line of a Triangle. If this movement continues, the price of XAUUSD could test 3378.0585 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
EURUSD is trapped in a Falling Wedge 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 […]
ETHUSD 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 ETHUSD continues in its current trajectory, we could see it […]
XAGUSD has breached the support line at 35.9149. It may continue the bearish trend towards 35.4664, or, it may prove to be yet another test of this level.
NGC/USD is heading towards the resistance line of a Channel Up. If this movement continues, the price of NGC/USD could test 4.1733 within the next 12 hours. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
The last 11 4 hour candles on USDJPY formed a Ascending Triangle pattern and broken out through the pattern lines, indicating a possible bullish movement towards the price level of 146.5109.
