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EURJPY 4hour Analysis March 27th, 2022EURJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: So EJ is also super bullish however we do see a very tight and steep 4hour channel. This is not ideal given how overextended the higher timeframe seems but the most likely scenario here is that price action actually pushes toward resistance around 137.000 before we see any sort of serious reaction. Trade scenario 2: For us to consider EJ bearish and start looking for short opportunities we need to see our 133.000 support level break. Look for structure forming lower highs below 133.000 for high probability setups.
Long
by ForexLeague
AUDJPY Daily Analysis March 27th, 2022AUDJPY Neutral idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Clearly we are bullish but to be honest there is not much we can do with this kind of movement. We need to see clear structure in order to plot a trade scenario so we would need to see a massive pullback then structure before we can do anything. Trade scenario 2: We could also look for a massive amount of consolidation and wait for bearish structure on the lower timeframes. This would allow for potential short opportunities on a pullback to 88.000 support.
by ForexLeague
AUDUSD 4hour Analysis March 27th, 2022AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are definitely looking bullish here on AU but we can see price action is curving out a bit. Ideally we see AU pullback to form structure closer to our 0.74000 support level and form a higher low. Look to target higher toward 0.76000 resistance. Trade scenario 2: For us to consider AU bearish we would need to see a break of 0.74000 support with a lower high below.
Long
by ForexLeague
DXY (USD Index) 4hour Analysis March 27th, 2022 DXY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall DXY is bullish on higher timeframes while the 4hour timeframe is within a range between 99.250 resistance & 97.850 support. The most likely scenario is that price action will push toward the top of the range before we see any sort of reaction. Once we reach 99.250 we will look for a bounce or break. Trade scenario 2: If we are to consider DXY bearish we would first need to see a break of a higher low on this timeframe. If this happens, look for price action to fall to 97.850 support.
TVC:DXYLong
by 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