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MARKET ANALYSIS

S&P500 is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

S&P500 is trapped in a Channel Up 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 5971.4618 is expected in the short term.

FTSE100 heading towards a price it has tested 4 times in the recent past.

FTSE100 is about to retest a key horizontal resistance level near 8336.7998. It has tested this level 4 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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GBPJPY formed a Rectangle on the 4 hour chart. Retest of resistance in sight.

GBPJPY is approaching the resistance line of a Rectangle. It has touched this line numerous times in the last 13 days. If it tests this line again, it should do so in the next 3 days.

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BTCUSD is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

BTCUSD 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 12 days and may test it again within the next 3 days.

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If USDJPY touches 158.0850 it may be time to take action.

USDJPY is moving towards a line of 158.0850 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 USDJPY continues in its current trajectory, we […]

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After testing 5980.4600 numerous times, S&P500 is once again approaching this price point. Can we expect a bullish trend to follow?

S&P500 is approaching a resistance line at 5980.4600. 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.

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Will XAUUSD break through the resistance level it tested before?

XAUUSD is approaching a resistance line at 2629.6499. 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.

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

A strong resistance level has been identified at 1.0447 on the 30 Minutes EURUSD chart. EURUSD is likely to test it soon.

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