NAS100 is heading towards the support line of a Falling Wedge. If this movement continues, the price of NAS100 could test 20681.9942 within the next 10 hours. 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.
The breakout of XAUUSD through the 2563.2200 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 2548.6360 within the next 7 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.
GBPJPY is once again retesting a key horizontal resistance level at 198.0620. It has tested this level 3 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.
Emerging Rising Wedge pattern in its final wave was identified on the USDJPY 1 hour chart. After a strong bullish run, we find USDJPY heading towards the upper triangle line with a possible resistance at 156.7290. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
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