Forexleague
NAS100 4h Analysis July 17th, 2022Now either price could break above the resistance level or reject it and still fall like a knife.
XAUUSD 4hour Analysis July 17th, 2022Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking bearish on gold for this week but we’re not yet sure if we’ll be able to find a high probability trade setup, it all depends on price action this week.
For us to continue trading bearish we need to see structure form. A lower high close to 1740.00 resistance and our 38.2% fib level would be ideal.
Trade scenario 2: If we are to consider gold bullish we would need to see a break back above 1740.00 with a confirmed higher low.
EURJPY 4hour Analysis July 17th, 2022EURJPY Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Overall bearish on EJ but price action is resting at a critical zone.
From here we’re ideally looking for a strong reversal near 140.000 with bearish setups we can enter short on. Look to target lower toward key support levels.
Trade scenario 2: For us to consider EJ bullish we would first need to see a break of 140.000 with a higher low above. Look to target high toward key resistance levels.
USDJPY 4hour Analysis July 17th, 2022USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are still clearly super bullish on UJ and going into this week it’s not looking any different.
Ideally, we continue bullish where we will look to enter long on structure forming higher lows. Closer to 61.8% fib level the better.
Trade scenario 2: For us to consider UJ bearish we would need to see a break back below 136.500 first.