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MARKET ANALYSIS

USDJPY is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 20 days.

USDJPY 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 support 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 156.3936 is expected in the short term.

After repeatedly testing the 83.8730 level, BRN/USD is once again approaching it. Should we expect a bearish trend to follow?

BRN/USD is approaching a critical level that could be a key deciding factor for what comes next. We may see this trajectory continue to test and break through 83.8730, unless it loses momentum and pulls back to current levels.

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Because USDJPY has formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through the resistance, it may move much higher.

USDJPY is trapped in a Channel Up formation, implying that a breakout is imminent. This is a strong trade setup for both trend and swing traders. It is now approaching a support line that has been tested before. Divergence watchers may be optimistic about a potential breakout, which could mark the start of a new […]

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NGC/USD is approaching a support line of a Head and Shoulders. It has touched this line numerous times in the last 6 days.

An emerging Head and Shoulders has been detected on NGC/USD. The pattern has not yet broken through resistance, but the price is expected to move up over the next few hours. At the time the pattern was found, the price was 3.0815, and it is expected to move to 3.0183.

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XAGUSD is approaching a support line of a Channel Up. It has touched this line numerous times in the last 9 days.

The movement of XAGUSD toward the support line of a Channel Up is yet another test of the line it has reached numerous times in the past. This test of the line could occur within the next 2 days, but it is uncertain whether it will result in a breakout through this line or simply […]

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ETHUSD is approaching a resistance line of a Channel Up. It has touched this line numerous times in the last 3 days.

The movement of ETHUSD toward the resistance line of a Channel Up is yet another test of the line it has reached numerous times in the past. This test of the line could occur within the next 13 hours, but it is uncertain whether it will result in a breakout through this line or simply […]

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Because GBPJPY has formed a Rising Wedge pattern, we expect it to touch the resistance line. If it breaks through the resistance, it may move much higher.

GBPJPY is moving toward a resistance line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 4 days and may test it again within the next 7 hours.

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S&P500 is heading toward a price it has tested 3 times recently.

S&P500 is heading toward 6901.0801 and could reach this level within the next 3 days. It has tested this level numerous times in the past, and this time could be no different, ending in a rebound rather than a breakout. If a breakout does not occur, we may see a retracement back to current levels.

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