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MARKET ANALYSIS

USDJPY is quickly approaching the support line of a Descending Triangle. We expect either a breakout through this line or a rebound.

USDJPY is trapped in a Descending Triangle formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance 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 156.0538 is expected in the short term.

After trying numerous times in the past, LTCUSD finally breaks 111.6800!

LTCUSD has broken through a line of 111.6800. If this breakout holds true, we could see the price of LTCUSD heading towards 120.4630 within the next 2 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so you should probably confirm the breakout before placing any […]

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Important resistance line being approached by NGC/USD. This price has been tested numerous time in the last 2 days

Emerging Channel Down pattern in its final wave was identified on the NGC/USD 30 Minutes chart. After a strong bullish run, we find NGC/USD heading towards the upper triangle line with a possible resistance at 3.5756. If the resistance shows to hold, the Channel Down pattern suggests a rebound back towards current levels.

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After testing the support line numerous times, USDJPY is once again approaching this line. Can we expect a bearish trend to follow?

USDJPY is moving towards a support line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 15 days and may test it again within the next 2 days.

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S&P500 has broken out from the Falling Wedge pattern. Expect it to hit 5969.7661 soon.

The breakout of S&P500 through the resistance line of a Falling Wedge could be a sign of the road ahead. If this breakout persists, we may see the price of S&P500 testing 5969.7661 within the next 2 days.

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There is a possibility of a big movement on NGC/USD after a breach of the support

This trade setup on NGC/USD 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 bearish breakout through support, it seems to suggest that we could see the next price move to 3.4103.

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A final push possible on LTCUSD as it starts approaching a price line of 106.9400.

LTCUSD is moving towards a key resistance level at 106.9400. LTCUSD has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?

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Important resistance line being approached by FTSE100. This price has been tested numerous time in the last 5 days

Emerging Channel Up detected on FTSE100 – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 8270.5 and it is expected to move to 8355.8382.

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