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EURJPY 4hour Analysis February 20th, 2022EURJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: We are still technically bearish on the 4hour while the higher timeframes remain bullish. The most likely scenario given price action formation is that we will see a break of support near 130.000 with a lower high below. If this happens look to enter short and target lower toward key support levels. Trade scenario 2: For us to consider EJ bullish we would need to see a massive reversal off 130.000 support with structure forming higher lows to enter long on.
by ForexLeague
USDJPY 4hour Analysis February 20th, 2022USDJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: Price action is looking newly bearish here on UJ and is currently resting at support near 115.000. The most likely scenario is that we will see support break with price action forming a lower high below. Look to target lower toward key support levels. Trade scenario 2: For us to consider UJ bullish again we ideally want to see a break of a prior lower high so for us that means we need to see a higher low above 115.350.
Short
by ForexLeague
AUDUSD 4hour Analysis February 20th, 2022AUDUSD Bullish Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: The 4hour timeframe is looking bullish while the higher timeframes are still majorly bearish. From where price action is right now we’re looking for a higher low near 0.71450 with bullish setups to confirm. Look to target back toward 0.72000 and look for a break. Trade scenario 2: If we are to consider AU bearish on this timeframe again we need to see a break of support near 0.71450 with a lower high below.
Long
by ForexLeague
DXY (USD Index) 4hour Analysis February 20th, 2022 DXY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Technically we are still bullish here on DXY although we should note that we are between an existing range. Resistance at 96.350 & support at 95.800 The most likely scenario is that price action will reach 96.350 and reject from there, continuing the range. Trade scenario 2: For us to consider DXY full bullish we ideally want to see a higher low above 96.350.
TVC:DXY
by ForexLeague
XAUUSD 4hour Analysis February 14th, 2021Gold Neutral idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Gold is looking very bullish and it has been forming great structure but it is currently a bit overextended and price action is now resting near 1865.00 resistance. The most likely scenario is that price action will head lower toward support before forming our next structure point. Trade scenario 2: If we see a break of resistance near 1865.00 we need to see a higher low above to confirm further bullish movement.
FX_IDC:XAUUSD
by ForexLeague