The movement of NGC/USD toward the support line of a Channel Down is yet another test of the line it has reached numerous times in the past. This test of the line could occur within the next 3 days, but it is uncertain whether it will result in a breakout through this line or simply rebound to current levels.
The price of NAS100 is heading back toward the support area. It may struggle to break through and could reverse direction. The price may eventually break through, but it typically retreats from the level several times before doing so.
XAUUSD is heading toward 4412.1499 and could reach this level within the next 3 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.
A breakout of EURUSD through the support line of a Triangle could signal what’s ahead. If the breakout persists, we may see EURUSD’s price test 1.1653 within the next 17 hours.
A strong support level has been breached at 6937.8999 on the 1 hour S&P500 chart. Technical analysis forecasts a move to 6894.1909 within the next 2 days.
USDJPY was identified around 156.749 after recently rebounding off the support on the 4 hour interval. Ultimately, the stock’s price action has formed a Channel Up pattern. This squeeze may increase the chances of a strong breakout. The projected move could take the price to around 157.6524.
BRN/USD has moved through the resistance line of a Triangle pattern at 60.57892063492063 on the 15 Minutes chart. This line has been tested multiple times in the past, and this breakout could signal an upcoming change in the current trend. Price may continue in the current direction toward 61.0576.
FTSE100 was identified around 10062.6 after recently rebounding off the resistance on the 1 hour interval. Ultimately, the stock’s price action has formed a Channel Up pattern. This squeeze may increase the chances of a strong breakout. The projected move could take the price to around 10044.0944.
