Garnet Fx Trade

bearish technical pattern on XAGUSD 4 hour

This trade setup on XAGUSD 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 29.9293.

Dramatic change in EURUSD. A sign of things to come?

EURUSD rose sharply for 16 days – which is an excessively big movement for this instrument; exceeding the 98% of past price moves. Even if this move is a sign of a new trend in EURUSD there is a chance that we will witness a correction, no matter how brief.

USDCHF is on the approach

The price of USDCHF 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.

Will UKX.IND have enough momentum to break resistance?

UKX.IND is heading towards the resistance line of a Triangle. If this movement continues, the price of UKX.IND could test 8251.7227 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Either a rebound or a breakout imminent on XAGUSD

XAGUSD is heading towards 31.1110 and could reach this point within the next 8 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.

Possible breach of support level by XAUUSD

XAUUSD is heading towards the support line of a Triangle. If this movement continues, the price of XAUUSD could test 2365.9767 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

DAX.IND is on the approach

DAX.IND is approaching a resistance line at 18388.9004. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

Possible breach of support level by UKX.IND

UKX.IND is heading towards the support line of a Falling Wedge and could reach this point within the next 11 hours. 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 […]

XAGUSD – getting close to resistance of a Triangle

Emerging Triangle pattern in its final wave was identified on the XAGUSD 1 hour chart. After a strong bullish run, we find XAGUSD heading towards the upper triangle line with a possible resistance at 30.9944. If the resistance shows to hold, the Triangle pattern suggests a rebound back towards current levels.

Confirmed breakout on USDCHF 15 Minutes chart

The breakout of USDCHF through the 0.8979 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, USDCHF could test 0.8961 within the next 11 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.