AUDJPY 4hour Analysis July 31st, 2022
AUDJPY Bearish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Looking massively bearish on DXY from last week. Currently, price action is sitting at a low near our 93.000 level.
Ideally price action forms clear structure by pulling back to our 38.2% fib level then rejecting.
Trade scenario 2: On the other hand price action could still be pushing and we have not yet found our low.
Be patient for reactions around the current support level and follow which scenario price action goes for.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Looking massively bearish on DXY from last week. Currently, price action is sitting at a low near our 93.000 level.
Ideally price action forms clear structure by pulling back to our 38.2% fib level then rejecting.
Trade scenario 2: On the other hand price action could still be pushing and we have not yet found our low.
Be patient for reactions around the current support level and follow which scenario price action goes for.
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