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AUDJPY Daily Analysis April 17th, 2022AUDJPY Neutral idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are clearly very bullish on AUDJPY but we are also consolidating at an extreme high. Price action is near resistance but we have not seen any structure in weeks. In other words, we are due for a pullback. At the moment we can only wait so I have highlighted our next support level around 91.000 as this is the minimum I expect a pullback to. Trade scenario 2: The unlikely scenario is that AUDJPY breaks resistance at 95.000 and keeps rallying.
by ForexLeague
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AUDUSD 4hour Analysis April 17th, 2022AUDUSD Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Higher timeframes are bullish here on AU while the 4hour timeframe has been in a steady downtrend. We can see price action near our 0.74000 support formed a descending triangle, which looks to be breaking bearishly now. Look for a lower high below 0.74000 with strong bearish setups to enter on. Trade scenario 2: For us to consider AU bullish again we need to see a break back above 0.74000 first. The key to entering long here is structure. Look for a 4hour higher low above our most recent lower high.
Short
by ForexLeague
DXY (USD Index) 4hour Analysis April 17th, 2022 DXY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Price action on DXY is extremely bullish on all timeframes. We are seeing what looks like an expanding pattern near major resistance around our 100.000 level. The most likely scenario is that price action finds resistance and falls to a lower support level. Trade scenario 2: To consider DXY bullish beyond 100.000 we need to see structure above. Look for a higher low above the zone with strong bullish setups.
TVC:DXY
by ForexLeague
XAUUSD 4hour Analysis April 10th, 2021Gold Long idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Ranging Trade scenario 1: Gold is still ranging on the 4hour but atleast we know what we need to see in order to enter a trade. Ideally, we see price action assume the overall bullish trend and break the range. Look for a higher low above the range to enter long. Look to target toward 2000.00 resistance if this happens. Trade scenario 2: For us to consider gold bearish we need to see a bearish break of the range with a lower high below. Look to enter short and target lower toward 1870.00 if this happens.
FX_IDC:XAUUSDLong
by ForexLeague
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