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Patterntrading

EURCHF Daily Analysis 2/23/20Eurchf Short Idea All significant timeframes have been very bearish as that seems to be the case with most eurxxx pairs. Because this is such a steep trend and price action has just been falling we have limited options. Price action could keep this bearish momentum and continue falling into our monthly support level around 1.04000 We see a long awaited pullback to a key prz level and key resistance. From here we could look to enter on signs of a bearish trend continuation. Either way we are looking to short and target down toward our monthly support around 1.04000
Short
by ForexLeague
XAUUSD Daily Analysis 2/23/20Gold Long Idea We can see that gold has been very bullish on all significant timeframes and is not showing any real signs of slowing down. With this trend in mind we are looking to capitalize on natural market pullbacks. Ideally a nice retracement to broken resistance, that would be now tested as support with plenty bullish confirmations would be enough to enter on. Look to target back toward the monthly resistance level around 1675.000 and potentially even higher toward our weekly resistance around 1800.00 for a longer term trade.
FX_IDC:XAUUSDLong
by ForexLeague
1
USDCHF Daily Analysis 2/23/20UCHF Short Idea From a trend analysis perspective we have some mixed signals as the monthly and daily trends are both bearish and the weekly and 4hour trends are both bullish. How price action reacts to this level of support will determine our next move. We’re looking for this play out 1 of 2 ways: Price action bounces from current support at 0.97750 and we will look to target the resistance zone at the top of the range around 0.98500 We see price action break the lower support and retests as resistance. Upon a confirmed retest/lower high we will look to target lower toward the next major support level around 0.96300
Short
by ForexLeague
1
NZDCAD Daily Analysis 2/23/20NZDCAD Neutral idea NCAD has been very bearish as expected from previous analysis. We finally reached our weekly support around 0.84000 From this level we are waiting on confirmation before making our next move We could see price action bounce from this level and start retracing. A good short term target would be 0.85000. Look for confirmation at this level Or We could see bearish momentum continue and look for price action to fall below our major support zone
by ForexLeague
EURUSD Daily Analysis 2/16/20EURUSD Short Idea We’re definitely looking to short Eurusd and ride the trend if the opportunity presents itself. Price action has been very bearish over the last 2 weeks and does not seem to be slowing down. Our target is the monthly support around 1.07000 but there are two ways we could see that play out. Price action may keep free falling all the way until the monthly or we could see an established lower low followed by a retracement to a key fib level. This is where we have the opportunity to capitalize and short lower after seeing strong rejection + bearish confirmations.
Short
by ForexLeague