The price of EURUSD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
This trade setup on XAUUSD 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 3252.2753.
FTSE100 is about to retest a key horizontal resistance level near 8674.9004. 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.
The price of XAGUSD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
GBPJPY has broken through a resistance line of a Pennant chart pattern. If this breakout holds true, we may see the price of GBPJPY testing 194.4150 within the next 6 hours. But don’t be so quick to trade, it has tested this line in the past, so you should confirm the breakout before taking any […]
The movement of USDJPY towards 145.4625 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 22 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
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