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MARKET ANALYSIS

USDJPY is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

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 144.1029 is expected in the short term.

Because S&P500 formed a Rising Wedge pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher

The movement of S&P500 towards the resistance line of a Rising Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]

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After testing the support line numerous times, FTSE100 is once again approaching this line. Can we expect a bearish trend to follow?

FTSE100 is heading towards the support line of a Head and Shoulders and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, […]

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GBPJPY may be on a start of a new bearish trend after its breakout through this important support level

GBPJPY is once again retesting a key horizontal support level at 197.1385. It has tested this level 4 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.

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Important price line breached by BRN/USD. This price has been tested numerous times before.

The price of BRN/USD in heading in the direction of 68.7792. Despite the recent breakout through 68.0015 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.

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NGC/USD is quickly approaching a very important level it has previously tested numerous times in the past

The price of NGC/USD in heading back to the support 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.

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ETHUSD heading towards a price it has tested 5 times in the recent past.

The movement of ETHUSD towards 2409.5100 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 2 days, 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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Could 5 consecutive daily bullish candles on EURUSD be a sign of things to come?

EURUSD has experienced an exceptionally large amount of consecutive bullish candles to reach a price of 1.1727 in the last 8 days.

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