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AUDJPY 4hour Analysis December 5th, 2021AUDJPY Bearish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: Looking very bearish here on AUDJPY as well. We ideally want to line up with the bearish trend for short opportunities but we can see we’re over extended. We need to see our next lower high in order to continue shorting. Look for price action to reject our 80.400 resistance level. Trade scenario 2: For us to consider AUDJPY bullish we would need to see a higher low above 81.500. That’s how over extended we are.
Short
by ForexLeague
AUDUSD 4hour Analysis December 5th, 2021AUDUSD Neutral Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: Overall we are clearly bearish but we can see that we are also very over extended. Price action is currently resting at support near 0.70000 and how it reacts here will determine where we go next. Ideally, we can get a reversal near 0.70000 then wait for the next structure forming lower high, then we can enter short. Keep in mind price action could pull back to our 61.8% level & 0.71200 resistance. Trade scenario 2: For us to consider AU bullish we would need to see a 4hour transition meaning a higher low above 0.72000. This transition will declare the 4hour timeframe bullish but we could also identify lower timeframe long opportunities if they present themselves. Look to buy into resistance near 0.71200 (this will be a counter trend trade if you take it)
by ForexLeague
DXY (USD Index) 4hour Analysis December 5th, 2021 DXY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we’re bullish on all major timeframes but we can see on this 4hour timeframe that we are ranging a bit. We want to line up with the bullish trend so we will wait until we can see a higher low above 96.300. Trade scenario 2: If price action fails to break higher we can easily see more consolidation throughout the week. Keep in mind the bullish trend will remain intact until we break support near 95.800
TVC:DXYLong
by ForexLeague
1
USDJPY 4hour Analysis November 28th, 2021USDJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: We are clearly still within a 4hour range held slightly above massive support near 113.000. The most likely trade scenario for price action is to consolidate within this range after a high volume move. Trade scenario 2: While we remain above 113.000 support we’re generally looking for long opportunities. Ideally, if we can spot a confirmed higher low above 114.150 we can target higher.
by ForexLeague