The price of NGC/USD in heading in the direction of 4.4613. Despite the recent breakout through 4.2825 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.
EURUSD is approaching the resistance line of a Rising Wedge. It has touched this line numerous times in the last 2 days. If it tests this line again, it should do so in the next 9 hours.
The breakout of BRN/USD through the resistance line of a Falling Wedge could be a sign of the road ahead. If this breakout persists, we may see the price of BRN/USD testing 80.7118 within the next 5 hours.
XAGUSD was identified at around 29.899 having recently rebounded of the support on the 15 Minutes data interval. Ultimately, the price action of the stock has formed a Rising Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 30.1146 level.
S&P500 is moving towards a line of 5941.1201 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If S&P500 continues in its current trajectory, we […]
USDJPY is heading towards 158.4470 and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
NAS100 is approaching a resistance line at 21333.3320. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.
The last 4 1 hour candles on GBPJPY formed a Pennant pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 191.5020.
