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MARKET ANALYSIS

NGC/USD is approaching a support line of a Falling Wedge. It has touched this line numerous times in the last 3 days.

NGC/USD 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 3.1171 is expected in the short term.

BTCUSD – breach of price line that’s been previously tested numerous times before

A strong support level has been breached at 98114.2031 on the 1 hour BTCUSD chart. Technical Analysis theory forecasts a movement to 92940.6328 in the next 3 days.

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A Channel Down has formed, XAGUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?

XAGUSD is heading towards the support line of a Channel Down. If this movement continues, the price of XAGUSD could test 28.1125 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.

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An unexpected large move has occurred on USDJPY 1 hour chart! Is this a sign of something new? What can we expect?

A movement of 2.22% over 2 days on USDJPY doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current upward trend, or a reversal in the previous direction.

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After testing 113.1300 numerous times, LTCUSD has finally broken through. Can we expect a bearish trend to follow?

LTCUSD has broken through a line of 113.1300 and suggests a possible movement to 104.8330 within the next 3 days. 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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BRN/USD heading towards a price it has tested 6 times in the recent past.

BRN/USD is about to retest a key horizontal support level near 72.5015. It has tested this level 6 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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Breach of 1.0472 could mean a start of a bearish trend on EURUSD

The price of EURUSD in heading in the direction of 1.0336. Despite the recent breakout through 1.0472 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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After testing support twice in the past, ETHUSD has finally broken through. Can we expect a bearish trend to follow?

ETHUSD has broken through a support line. It has touched this line at least twice in the last 11 days. This breakout may indicate a potential move to 3801.0762 within the next 2 days. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before […]

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