Possible breach of support level by USDCAD
USDCAD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If USDCAD continues in its current trajectory, we could see it […]
Should we expect a bearish trend on XAGUSD?
XAGUSD has broken through a support line of a Channel Up and suggests a possible movement to 30.1860 within the next 5 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement […]
AUDUSD approaches important level of 0.6681
AUDUSD is heading towards 0.6681 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, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
USDTRY approaching resistance of a Channel Up
The movement of USDTRY towards the resistance line of a Channel Up is yet another test of the line it reached numerous times in the past. This line test could happen in the next 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]
Possible start of a bullish trend as XAUUSD breaks resistance
XAUUSD is once again retesting a key horizontal resistance level at 2336.7100. It has tested this level 3 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.
EURGBP approaching resistance of a Inverse Head and Shoulders
Emerging Inverse Head and Shoulders pattern in its final wave was identified on the EURGBP 4 hour chart. After a strong bullish run, we find EURGBP heading towards the upper triangle line with a possible resistance at 0.8470. If the resistance shows to hold, the Inverse Head and Shoulders pattern suggests a rebound back towards […]
XAGUSD breakout through resistance
The breakout of XAGUSD through the 29.5860 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, XAGUSD could test 29.8265 within the next 10 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.
Possible breach of resistance level by AUDUSD
AUDUSD is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If AUDUSD continues in its current trajectory, we could see it […]
Huge bullish move on NDX.IND
A movement of 6.73% over 17 days on NDX.IND doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current upward trend, or a reversal in the previous direction.
Breach of important price line imminent by GBPUSD
GBPUSD is moving towards a line of 1.2731 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If GBPUSD continues in its current trajectory, we […]