MARKET ANALYSIS

XAUUSD 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 4251.2962 is expected in the short term.

BRN/USD is heading towards the support line of a Falling Wedge 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, we […]

An unexpected large move occurred on XAUUSD 1 hour chart, starting at 3990.135 and reaching 4168.06. It stands out in recent trading activity.

The breakout of GBPJPY through the support line of a Triangle could be a sign of the road ahead. If this breakout persists, we may see the price of GBPJPY testing 200.8861 within the next 3 days.

BTCUSD is heading towards 111208.2891 and could reach this point within the next 15 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

NGC/USD has broken through the resistance line of a Channel Down technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 7 days and suggests a possible target level […]

EURUSD is heading towards the resistance line of a Channel Down and could reach this point within the next 2 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, we […]