Forexleague
NAS100 Analysis April 25th, 2022We've been calling out this pair ever since just look back at the previous analysis. So for now as we approach another key level wait for price to taps inside it and wait for its reaction.
XAUUSD Daily Analysis April 24th, 2021Gold Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: We are back to bearish on gold on the 4hour timeframe and are technically in an active trade. Once price action broke the 1950.00 support area we fell back into a pre-existing range.
Going forward into the week it is likely we will see price action start to consolidate.
Trade scenario 2: For us to consider gold bullish again we really need to see higher lows above the 1950.00 area. Good structure is key so we will have to wait for a trend to emerge.
USDJPY 4hour Analysis April 24th, 2022USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are still steady bullish on UJ. This is not ideal but nothing is suggesting a bearish trend just yet.
The most likely scenario for this week is that UJ will keep rallying.
Trade scenario 2: For us to consider UJ bearish we first need to see a lower high below 127.700 support. Look to target lower toward 125.000 support if this happens.
AUDJPY 4hour Analysis April 24th, 2022AUDJPY Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: This pair is extremely over extended and the daily timeframe shows that best.
We are on the 4hour timeframe on this analysis to showcase the potential for this week.
Ideally, price action continues in this steep bearish trend and falls to 91.000 for structure formation. We can then consider long scenarios if we see a 4hour bullish trend emerge.
Trade scenario 2: I would not consider long scenarios on this pair yet but we could see price action reject off 92.850 support and consolidate some more.
This pair is due for a pullback so we have to be careful where we consider long scenarios.
AUDUSD 4hour Analysis April 24th, 2022AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking strongly bearish here on AUDUSD and the support level we’re at around 0.72500 is the make or break zone here.
It is more than likely that AU will continue bearish as it is showing no signs of slowing down. Ideally, we can spot a lower high below 0.72500 to enter short on.
Trade scenario 2: For us to consider AU for long scenarios we really need to see reactions now at this support level (0.72500).
If we can spot some good structure and a bullish 4hour trend then we will be interested in entering long.
DXY (USD Index) 4hour Analysis April 24th, 2022 DXY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking bullish on DXY around this 100.00 level we have marked.
Ideally, we continue bullish and see clean structure above 100.00. Look for higher lows and strong bullish setups to confirm dxy bullish on the 4hour.
Trade scenario 2: For us to consider DXY more bearish we would first need to see a break of minor support with lower highs and bearish 4hour structure.