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EURJPY 4hour Analysis July 31st, 2022EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking bearish this week! We just saw a break of our 137.000 zone and now we’re looking to continue lower. Ideally, price action rejects our 137.000 zone and forms clear structure we can enter short on. Look to target lower toward 133.000 Trade scenario 2: For us to consider EJ more bullish we need to see a break back above 137.000 with a higher low above.
Short
by ForexLeague
USDJPY 4hour Analysis July 31st, 2022USDJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking newly bearish on UJ and it does not look like it is slowing down. Ideally this week we see strong bearish setups rejecting our 134.000 zone. Look to target lower toward 131.000 Trade scenario 2: For us to consider UJ bullish we need to see a break back above 134.500 with a higher low above. Look to target higher toward 136.500 if this happens.
Short
by ForexLeague
AUDJPY 4hour Analysis July 31st, 2022AUDJPY Bearish idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Looking massively bearish on DXY from last week. Currently, price action is sitting at a low near our 93.000 level. Ideally price action forms clear structure by pulling back to our 38.2% fib level then rejecting. Trade scenario 2: On the other hand price action could still be pushing and we have not yet found our low. Be patient for reactions around the current support level and follow which scenario price action goes for.
Short
by ForexLeague
AUDUSD 4hour Analysis July 31st, 2022AUDUSD Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Price action is very bullish and is currently resting near 0.70000, a major zone. One likely scenario is that bullish momentum continues. Look for a break of 0.70000 with a higher low above. Trade scenario 2: For us to consider AU bearish we first need to see a break of 0.69500 support with a lower high below. Look to target lower toward 0.68500.
Long
by ForexLeague
DXY (USD Index) Daily Analysis July 31st, 2022 DXY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4Hour Trend: Bearish Trade scenario 1: DXY has been falling since last week pretty heavily and it does not look like it will be slowing down just yet. Going into this week we’re looking to continue bearish but we want to see a strong rejection from 106.400 for confirmation. Look to target lower toward 105.000 Trade scenario 2: For us to see DXY as bullish again we need to first break above 106.400 with a confirmed higher low above.
TVC:DXYShort
by ForexLeague