Skip to content XAUUSD is heading towards the support line of a Channel Up 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 could see a retracement back down to current levels.
Emerging Pennant detected on S&P500 – 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 6044.65 and it is expected to move to 6115.4050.
Triangle pattern identified on XAUUSD has broken through a resistance level with the price momentum continuing to move in an upward direction. A solid trading opportunity continues with the price expected to reach 2644.2552 in the next 2.
The last 4 15 Minutes candles on FTSE100 formed a Rising Wedge pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 8094.2497.
The price of USDJPY in heading in the direction of 157.9683. Despite the recent breakout through 157.3180 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.
An emerging Channel Up has been detected on BTCUSD on the 15 Minutes chart. There is a possible move towards 97948.7575 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.
XAGUSD is moving towards a key resistance level at 29.7170. This is a previously tested level for XAGUSD. This could be a good trading opportunity, either at the spot price, or after breaching this level.
LTCUSD is heading towards a line of 111.6800. If this movement continues, the price of LTCUSD could test 111.6800 within the next 2 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.
