Get started

Forexleague

XAUUSD Daily Analysis March 20th, 2021Gold Bearish idea Weekly Trend: Bullish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: We are looking newly bearish here on Gold after we saw a head and shoulders reversal signals execute and play out. Currently price action rests near 1930.00 support but price action is strongly suggesting we are heading lower. The most likely scenario is that price action continues to fall into 1870.00 support. Trade scenario 2: For us to consider Gold bullish again we would need to see price action get above 1930.00 and form a very convincing higher low that we can consider entering long on.
FX_IDC:XAUUSDShort
by ForexLeague
EURJPY 4hour Analysis March 20th, 2022EURJPY Bullish Idea Weekly Trend: Bullish With Large Bullish Flag Daily Trend: Bullish Price action pushing toward upper flag 4hour Trend: Bullish (Current Chart) Trade scenario 1: Price action has been overall bullish on EJ on the higher timeframes. We can see that on the weekly timeframe, price action has been bouncing within what looks like a very large bullish flag. This suggests price action will continue higher on a macro level but we need to find what is more accessible to us for the week ahead. On the 4hour we can see price action is a bit overextended and needs to form structure. Look for a structure forming higher low above 130.650 support to enter long on. Trade scenario 2: For us to consider EJ bearish we would need to see a lower high below 130.650 support.
Long
by ForexLeague
USDJPY Daily Analysis March 20th, 2022USDJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: This week UJ is low on the list for expected setups due to the extreme surge of volume we’ve been seeing. We simply have no structure whatsoever. The best thing we can do is wait for price action to retrace instead of trying to buy into this rally. Ideally, price action pulls back to form structure. Technically we could see price action fall as low as our 78.60% fib level and still remain bullish structure on this daily timeframe. Look to take long scenarios off key fib levels and target back toward 120.000 resistance. Trade scenario 2: The only other scenario that could take place and make sense would be… price action continues rallying and actually breaks through 120.000 resistance IF this happens we still need to see structure of some kind so look for higher lows above 120.000 that line up with key fib levels. When you see a high surge of volume on a currency pair or any asset your trade opportunities greatly diminish. The market needs time to resume more normal movement. Waiting is often the only option.
by ForexLeague
AUDJPY 4hour Analysis March 20th, 2022AUDJPY Bullish idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: To no surprise AJ is super bullish as well. We recently saw AJ break important resistance near 87.000. From here we’re looking for structure in the form of a higher low closer to 87.000. Look for strong rejection candles off this level and enter long on confirming setups. Look to target higher toward our next key resistance level. Trade scenario 2: If we are to consider AJ bearish on this timeframe we need the opposite to happen. Look for a break back below 87.000 support and consider entering short after we can confirm a lower high below.
Long
by ForexLeague
AUDUSD 4hour Analysis March 20th, 2022AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are very bullish on AU recently but now price action is right near key resistance around 0.74000. We know that price action is overextended and without structure so our best play is to wait for our next structure point. Our ideal scenario is if price action pulls back now to form a higher low closer to 0.73000. Look for strong bullish entry candles and target back toward 0.74000 resistance. Trade scenario 2: If price action continues to rally and we see price action break through 0.74000 resistance we ideally need a structure forming higher low above 0.74000 to even consider longs. Price action is just too overextended to take a trade without key structure.
Long
by ForexLeague
DXY (USD Index) 4hour Analysis March 20th, 2022 DXY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Currently we are bullish on DXY and we can see price action is bouncing between two 4hour zones. The most likely scenario is that price action will bounce off current support near 98.000 and head toward 99.300 resistance area. Trade scenario 2: For us to consider DXY bearish we would need to see a break of 98.000 with a lower high below.
TVC:DXYLong
by ForexLeague
XAUUSD Daily Analysis March 13th, 2021Gold Long idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are looking super bullish on GOLD! Currently we are consolidating near our 2000 resistance zone but we are seeing what could look like a head & shoulders pattern. Ideally, we continue with the bullish trend and spot the next higher low above our 2000 zone. This would give us confidence to continue entering long. Trade scenario 2: If price action fails to push higher we need to see the head & shoulders pattern play out, look for a lower high below 1975.00 to enter short on.
FX_IDC:XAUUSDLong
by ForexLeague
EURJPY 4hour Analysis March 13th, 2022EURJPY Neutral Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking overall bearish here on EJ but we can clearly see a 4hour inverse head & shoulders which is a known reversals pattern. We have yet to break anything but the likely scenario if we are to go bullish would be to see a higher low above 129.000 with strong bullish variations to enter long on. Trade scenario 2: For us to consider EJ bearish we would really need to see a lower high below 129.000
by ForexLeague