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MARKET ANALYSIS

NAS100 is approaching a resistance line of a Ascending Triangle. It has touched this line numerous times in the last 16 days.

NAS100 is trapped in a Ascending Triangle 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 21883.4085 is expected in the short term.

NAS100 is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.

A Channel Up pattern was identified on NAS100 at 19615.3276, creating an expectation that it may move to the resistance line at 20550.7849. It may break through that line and continue the bullish trend or it may reverse from that line.

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GBPJPY heading towards a price it has tested 4 times in the recent past.

The price of GBPJPY in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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After testing 3.2505 numerous times, NGC/USD is once again approaching this price point. Can we expect a bullish trend to follow?

The price of NGC/USD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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ETHUSD is quickly approaching the support line of a Triangle. We expect either a breakout through this line or a rebound.

ETHUSD is moving towards a support line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 7 days and may test it again within the next 2 days.

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Important support line being approached by FTSE100. This price has been tested numerous time in the last 8 days

FTSE100 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 FTSE100 continues in its current trajectory, we could see it […]

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XAUUSD has broken through a level it has tested 5 times in the recent past.

The breakout of XAUUSD through the 3291.6445 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, XAUUSD could test 3206.8474 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.

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

USDJPY has broken through 142.7600 which it has tested numerous times in the past. We have seen it retrace from this price in the past. If this new trend persists, USDJPY may be heading towards 143.4939 within the next 21 hours.

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