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

XAUUSD moves higher to 2917.92 in the last 56 days.

Those of you that are trend followers are probably eagerly watching XAUUSD to see if its latest 12.74% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 56 days move.

S&P500 – approaching a support line that has been previously tested at least twice in the past

Emerging Triangle pattern in its final wave was identified on the S&P500 1 hour chart. After a strong bearish run, we find S&P500 heading towards the upper triangle line with a possible resistance at 6040.5204. If the support shows to hold, the Triangle pattern suggests a rebound back towards current levels.

FTSE100 moves higher to 8738.16 in the last 6 days.

FTSE100 rose sharply for 5 days – which is an excessively big movement for this instrument; exceeding the 98% of past price moves. Even if this move is a sign of a new trend in FTSE100 there is a chance that we will witness a correction, no matter how brief.

Interesting opportunity on GBPJPY after breaking 188.62016129032259

This trade setup on GBPJPY is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bullish breakout through resistance, it seems to suggest that we could see the next price move to 189.4068.

BRN/USD is approaching 77.4500. We expect either a breakout through this line, or a rebound.

BRN/USD is about to retest a key horizontal resistance level near 77.4500. It has tested this level 5 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.

Important price line being approached by ETHUSD. This price has been tested numerous times before.

ETHUSD is heading towards 2673.8201 and could reach this point within the next 11 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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

BTCUSD has broken through a support line. Because we have seen it retrace from this price in the past, one should wait for confirmation of the breakout before trading. It has touched this line numerous times in the last 7 days and suggests a possible target level to be around 92172.1406 within the next 2 […]

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