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Daily Top Trade Setups: Advanced Forex, Indices, Commodities, and Stock Analysis

Supports and resistances are primary concepts of technical analysis. LTCUSD is heading for an important price of 111.6800 – read about what this could mean for the future.

LTCUSD is en route to a very important line that will be a definite deciding factor of what is to come! We may see this trajectory continue to touch and break through 111.6800, unless it runs out of momentum and pulls back to current levels.

If you’re short S&P500 you should be aware of the rapidly approaching level of 5947.4800

S&P500 is heading towards a line of 5947.4800. If this movement continues, the price of S&P500 could test 5947.4800 within the next 3 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.

ETHUSD likely to test 3409.4600 in the near future. Where to next?

The movement of ETHUSD towards 3409.4600 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

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.

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.

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.

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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