Important support line being approached by S&P500. This price has been tested numerous time in the last 9 days

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MARKET ANALYSIS

December 19, 2024

Important support line being approached by S&P500. This price has been tested numerous time in the last 9 days

S&P500 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 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 5722.0476 is expected in the short term.

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Market Analysis

05.03.25

Because USDJPY formed a Channel Down pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

USDJPY is heading towards the resistance line of a Channel Down and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]

Market Analysis

04.03.25

EURUSD moves higher to 1.06262 in the last 17 hours.

EURUSD hits 1.06262 after a 1.36% move spanning 17 hours.

Market Analysis

04.03.25

After testing the resistance line numerous times, BTCUSD is once again approaching this line. Can we expect a bullish trend to follow?

BTCUSD is heading towards the resistance line of a Triangle. If this movement continues, the price of BTCUSD could test 93912.1225 within the next 3 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.

Market Analysis

04.03.25

Because XAUUSD formed a Inverse Head and Shoulders pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

XAUUSD 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 XAUUSD continues in its current trajectory, we could see it […]

Market Analysis

04.03.25

A Head and Shoulders has formed, GBPJPY is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

GBPJPY is heading towards the support line of a Head and Shoulders and could reach this point within the next 14 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, […]