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Patterntrading

AUDJPY Daily Analysis 2/1/20AUDJPY Short Idea After analyzing AJ we have noticed all relative timeframes are very bearish Huge bearish momentum pushed price action out of a weekly bearish flag To enter short on this opportunity we ideally want to see a retest to a fib level or major broken support turned resistance. The 73.600 area has strong significance and could present a nice retest followed by strong bearish setups that we could capitalize on. The target for this potential trade would be our weekly support around 70.000
Short
by ForexLeague
2
AUDUSD Daily Analysis 1/19/20AUDUSD Short Idea The monthly, weekly and 4 hour time frames are all bearish while the daily is bullish. Although the daily is bullish we have seen significant resistance around our monthly level at 0.70000 and price action looks to be forming a head and shoulders pattern. For the head and shoulder pattern to be confirmed we need to see a break of 0.68500 We can then look to target toward our next major support level around 0.68000 followed by 0.67000
Short
by ForexLeague
DXY (USD INDEX) Daily Analysis 1/19/20DXY Long Idea The monthly, weekly and 4 hour are all bullush while the daily time frame is bearish. We can see price action has been forming lower lows and lower highs on this timeframe but has found some support around 96.50 We are looking for bullish opportunities as the major trend suggests an upward movement to come. We first need to see a break and retest of 97.80 to confirm a higher timeframe bullish continuation. Potential for price action to reach 98.50
TVC:DXYLong
by ForexLeague