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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.

An unusually large move was recorded for BRN/USD. The magnitude of the move is exceptional.

BRN/USD just posted a 60.55% move over the past 21 days—a move unlikely to go unnoticed by any trading style.

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EURUSD: breach of a resistance trendline that has been tested at least twice.

A breakout of EURUSD through the resistance line of a Falling Wedge could signal what’s ahead. If the breakout persists, we may see EURUSD’s price test 1.1662 within the next 2 days.

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An important resistance line is being approached by FTSE100. This price has been tested numerous times in the last 14 days

An emerging Channel Down has been detected on FTSE100. The pattern has not yet broken through support, but the price is expected to move up over the next few hours. At the time the pattern was found, the price was 10209.23, and it is expected to move to 10281.8381.

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LTCUSD is heading toward a price it has tested 5 times recently.

LTCUSD 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 53.6000, unless it loses momentum and pulls back to current levels.

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After repeatedly testing the support line, USDJPY is once again approaching it. Can we expect a bearish trend to emerge?

A Channel Up pattern was identified for USDJPY at 157.997, suggesting it may move toward the support line at 157.2817. It may break through that line and continue the bearish trend, or reverse from it.

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NGC/USD is approaching 2.9370. We expect either a breakout above this level or a rebound.

The movement of NGC/USD towards the 2.9370 price line is yet another test of a line it has reached numerous times in the past. We can expect this test to occur within the next 2 days, but it is uncertain whether it will result in a breakout through this line or simply rebound to current […]

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Consider a move on GBPJPY as it heads toward resistance.

An emerging Rising Wedge pattern has been detected for GBPJPY on the 1 hour chart. There may be a move toward 212.2226 in the next few candles. Once it reaches the resistance, it may continue its bullish run or revert to current price levels.

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