XAUUSD has broken through a line of 3321.0149 and suggests a possible movement to 3281.5408 within the next 2 days. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 10 days.
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.
EURUSD has experienced an exceptionally large amount of consecutive bullish candles to reach a price of 1.1727 in the last 8 days.
BRN/USD is approaching the resistance line of a Channel Down. It has touched this line numerous times in the last 4 days. If it tests this line again, it should do so in the next 6 hours.
The breakout of GBPJPY through the 197.7165 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, GBPJPY could test 197.0677 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.
The price of NGC/USD 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.
You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 1.1656 but consider reducing the size of your position as the price gets […]
A Channel Up pattern was identified on NAS100 at 22549.4966, creating an expectation that it may move to the resistance line at 22749.4810. It may break through that line and continue the bullish trend or it may reverse from that line.
