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AUDUSD 4hour Analysis November, 7th 2021AUDUSD Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Strongly bearish here on AU but we’re sitting right at 0.74000 major support. Ideally we break below with no issues and see our next lower high below. We can then look to enter short and target lower toward 0.73000. Trade scenario 2: If we see price action reverse here at 0.74000 we need to see a confirmed higher low above with conviction. Look higher toward resistance around 0.75000.
Short
by ForexLeague
1
DXY (USD Index) 4hour Analysis November 7th, 2021 DXY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Looking bullish here on the 4hour but we can see that 94.500 has held as strong resistance again. This could be a larger reversal in play so we will have to see how price action reacts here at 92.250. Ideally we will see the trend continue bullish and we will be able to see some higher lows above 94.500. Trade scenario 2: If price action fails to push higher we can look for price action to fall toward support around 93.800
TVC:DXYLong
by ForexLeague
EURJPY 4hour Analysis October 31st, 2021EURJPY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: We are also overall bullish on EJ with new structure formation. Only issue is we can see what seems to be an expanding pattern meaning price action is stuck in high volume consolidation. Ideally we want to wait for the pattern to break and in our favor of the trend. This means we will wait for a higher low to form above 132.700. Trade scenario 2:. It is likely price action will continue in this pattern for a while so look for strong reversals off our 132.700 resistance.
Long
by ForexLeague
AUDUSD 4hour Analysis October 31st, 2021AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We have spotted some consolidation at this high on AU with the trend clearly being overall very bullish. Ideally, we’re looking to continue with this bullish trend and enter long on a bullish break of this ascending triangle pattern. Look to enter long on a convincing break or wait for a retest of the pattern. Trade scenario 2: If we’re to look short on AU we would need to see a break below 0.75000 with a confirmed lower high below.
Long
by ForexLeague
DXY (USD Index) 4hour Analysis October 31st, 2021 DXY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Back to bullish! DXY for the week ahead is looking very bullish as we saw huge volume step into the market on the 4hour timeframe. Ideally we see price action form structure & a higher low above 93.800 with strong bullish setups. Trade scenario 2: If we are to consider DXY bearish again we would need to see a break back below 93.800 with lower highs below.
TVC:DXYLong
by ForexLeague