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USDJPY 4hour Analysis May 1st, 2022USDJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: We’re starting to see things a bit more clearly on UJ. We are still very bullish and are due for a pullback. Keep in mind, on the higher timeframes we’re overextended but the 4hour timeframe is looking clear for now. The most likely scenario at the moment is that price action continues to be bullish and we see 4hour structure form near 127.700 in the form of a higher low. Trade scenario 2: For us to start considering short opportunities we need to see a lower high below 127.700 with strong bearish setups to enter on.
Long
by ForexLeague
AUDJPY 4hour Analysis May 1st, 2022AUDJPY Bearish idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: The higher timeframes are mainly bullish but it is clear to see that we are overextended. We even can see monthly wicks and weekly rejection so a reversal may be imminent! On the 4hour we are strongly bearish and this timeframe will be the one to tell us where price action is going next. Ideally we continue bearish and break support at 91.000. If this happens look for a lower high below which will present a great short opportunity. Trade scenario 2: For us to consider AJ bullish for entries we need to see a higher low above 92.850.
Short
by ForexLeague
1
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.
Long
by ForexLeague
AUDUSD 4hour Analysis May 1st, 2022AUDUSD Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: All timeframes are overall bearish and on the 4hour we are picking up momentum, it seems. Based on current price action the most likely scenario is that we continue with the trend and break support around 0.70000. We are definitely overextended and are due for a pullback but recent volume is mostly from DXY correlations. Trade scenario 2: For us to find structure on this pair we need price action to pull back to the 0.72500 resistance level and form a lower high. Look to continue bearish if this happens.
Short
by ForexLeague
DXY (USD Index) Daily Analysis May 1st, 2022 DXY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: DXY is still looking very bullish but current price action is resting at 103.000 resistance. This is the make or break zone! If we break above 103.000, which this recent rally is strongly suggesting, we are looking at more upside potential. Keep in mind we are in overvalued territory and this rapid increase in price action is not sustainable. Trade scenario 2: Ideally, price action finds strong resistance at 103.000 and reverses. We want to see price action pullback to more stable levels and resume normal market structure again.
TVC:DXYLong
by ForexLeague
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.
FX_IDC:XAUUSD
by ForexLeague