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Patternanalysis

AUDJPY 4hour Analysis 4/12/20AUDJPY Neutral Idea This pair has been holding a strong 4hr bullish trend but volume has been significantly dropping off. This week I expect to see a bit of a fall in price to the 67.600 level before we can accurately see where price action is headed. From this level we want to either see a break or bounce. If we see a break of 67.600 we will look for a retest followed by strong bearish setups before we start shorting again. If we see a bounce, assume the continuation of the 4hr bullish trend and target next significant resistance levels.
by ForexLeague
1
EURJPY Daily Analysis 4/5/20EURJPY Neutral Idea This pair has been moving with a large amount of volume over the last few weeks. At the current level it would be too risky to continue shorting although the overall trends on higher timeframes are very bearish Price action is just too extended to make a good trade at the moment. For us to enter a trade we want to see a retracement to a key fib level and resistance zone. Ideally a retracement to the 38.2% fib level around the 118.00 area or a retracement to the 61.8% fib level and our monthly resistance around 119.500 would be a good start. A retracement followed by strong bearish setups is great confirmation to enter. Look to target lower toward our monthly support around 115.500
by ForexLeague
1
EURUSD 4hour Analysis 4/5/20 EURUSD Short Idea This pair played out exactly as expected from last week's analysis. We saw a clean transition to the downside followed by strong bearish pressure. At the current level it would be too risky to enter so we will be monitoring this pair for retracements to key fib levels If we see a retracement to the 38.2% or 61.8% 1hour fib level followed by strong bearish setups it could be a great opportunity to enter and target lower. Look to target toward our monthly support around 1.07000 and potentially lower toward our 0% fib level
Short
by ForexLeague
AUDJPY 4hour Analysis 4/5/20AUDJPY Short Idea This pair is looking bearish on all significant timeframes. We saw a break to the upside out of this daily bearish trend but the push was not sustained and the bears took control once again. From this level we are looking for short opportunities. This new daily fib has seen confirmed rejection from the 38.2% fib and is holding nicely. Looking for lower timeframe retests as well as strong bearish setups We will be targeting lower toward our monthly support and -27% fib around 64.000 followed by a second target at our -61% fib level around 63.000
Short
by ForexLeague
1
DXY Daily Analysis 4/5/20DXY Long Idea The USD remains very bullish and strong from last week. We saw a clean rejection of the 61.8% fib level and monthly support with strong bullish setups. If momentum continues we’re looking to target back toward our 0% fib level but first we have to break through our key resistance/structure (our blue zone) If DXY fails to push higher we could see price action start to range between our key resistance around 101.00 and our monthly support around 98.50
TVC:DXYLong
by ForexLeague
AUDUSD 4hour Analysis 4/4/20AUDUSD Short Opportunity Overall this pair is very bearish and all signs show that it will continue to be bearish on all significant timeframes. To enter short we want to see a pullback or a break and retest. Two potential entries would be: Look for a minor pullback on a lower timeframe to 0.60500 area followed by strong bearish setups and confirmations Look for a break of support around 0.59500 followed by a retest with strong bearish setups and confirmations If we see one of these scenarios play out we are looking to target lower toward major support levels like our monthly level around 0.58000
Short
by ForexLeague
AUDJPY 4hour Analysis 3/29/20AUDJPY Neutral Idea This pair has been mainly bearish on higher timeframes and has held a strong bearish channel until recently. Last week we saw a break to the upside out of the daily bearish channel followed by some consolidation Now we are waiting for some conviction so we can better determine where price action is headed. We have two potential scenarios for this to play out This 4hour bullish trend continues to push price action higher after a break of minor resistance around 66.50, target toward 68.00 We see this 4hr bullish trend is not strong enough and price action resumes the overall higher timeframe bearish trend. Look for a break of 65.300 followed by a retest with strong bearish setups, target lower toward the monthly support around 64.000
by ForexLeague
2
AUDUSD 4hour Analysis 3/29/20AUDUSD Short Opportunity For the last few weeks we have seen this pair turn very bearish and now we are seeing what looks like a key retracement. We are currently at the daily 61.8% fib level and key resistance around 0.62000. From this level I am looking for a lower timeframe transition and break of support followed by a retest with strong bearish confirmations. In that scenario it would be plenty of confirmation to then short and target lower. Look to short toward lower support levels around 0.59500 and the monthly support around 0.58000
Short
by ForexLeague
DXY Daily Analysis 3/29/20DXY Long Idea The current trend on the 4hour is very bearish and is looking like a retest of the 61.8% fib level and monthly support. The overall higher timeframe trends are bullish. From the current area we are looking for one of two situation to play out Momentum continues to push price action lower into a deeper fib level and significant support around 96.50. Target toward that level We see a bounce around the monthly support and 61.8% fib level, look to target toward the 100.00 area and potentially higher.
TVC:DXYLong
by ForexLeague
EURJPY 4hour Analysis 3/22/20EURJPY Neutral Idea This pair is looking bearish on the weekly, daily and 4 hour time frames. Currently price is consolidating between 119.500 and 117.500 but is still looking favorably bearish You can trade this range as an aggressive option or play it conservatively and wait for a break of a key support or resistance. Ideally a push toward 117.500 followed by a break and retest would be enough to enter. Look to target toward the monthly support around 115.500
Short
by ForexLeague
1