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EURJPY 4hour Analysis October 31st, 2021EURJPY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: We are also overall bullish on EJ with new structure formation. Only issue is we can see what seems to be an expanding pattern meaning price action is stuck in high volume consolidation. Ideally we want to wait for the pattern to break and in our favor of the trend. This means we will wait for a higher low to form above 132.700. Trade scenario 2:. It is likely price action will continue in this pattern for a while so look for strong reversals off our 132.700 resistance.
Long
by ForexLeague
AUDUSD 4hour Analysis October 31st, 2021AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We have spotted some consolidation at this high on AU with the trend clearly being overall very bullish. Ideally, we’re looking to continue with this bullish trend and enter long on a bullish break of this ascending triangle pattern. Look to enter long on a convincing break or wait for a retest of the pattern. Trade scenario 2: If we’re to look short on AU we would need to see a break below 0.75000 with a confirmed lower high below.
Long
by ForexLeague
DXY (USD Index) 4hour Analysis October 31st, 2021 DXY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Back to bullish! DXY for the week ahead is looking very bullish as we saw huge volume step into the market on the 4hour timeframe. Ideally we see price action form structure & a higher low above 93.800 with strong bullish setups. Trade scenario 2: If we are to consider DXY bearish again we would need to see a break back below 93.800 with lower highs below.
TVC:DXYLong
by ForexLeague
XAUUSD 4hour Analysis October 24th, 2021Gold Bullish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: Gold is looking very bullish on the 4hour and just made an attempt to break 1800.00 which is moments from confirming. How price action reacts now will determine where we go for the week ahead. Ideally we see some strong bullish setups right now and continue higher into 1825.00 Trade scenario 2: For us to consider gold bearish again we need to see some strong lower highs below 1800.00
FX_IDC:XAUUSDLong
by ForexLeague
EURJPY 4hour Analysis October 24th, 2021EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: The daily timeframe is bullish but we can see clearly on the 4hour that price action is retracing and still needs to form structure before we look to higher targets. Ideally we see a higher low form near 131.300 which is a great confluence area. Trade scenario 2: If we see a break of 131.300 with a lower high below we can begin looking for short opportunities.
Long
by ForexLeague
USDJPY Daily Analysis October 24th, 2021USDJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: Finally UJ retraced after a very extended rally. From here we’re looking for a reversal near our 38.2% fib level. Look to enter long on bullish setups confirming structure. Trade scenario 2: If we see a break of our weekly near 113.000 we will consider entering short on lower highs below 113.000. Look to target lower toward support around 111.500.
Long
by ForexLeague
AUDJPY 4hour Analysis October 24th, 2021AUDJPY Neutral idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are extremely bullish and overextended. Ideally we want to continue with the trend so we will wait for a pullback to spot structure formation. We will catch the continuation of the very strong daily bullish trend right after. Trade scenario 2: Because price action is so over extended we can actually spot a nice short opportunity on the potential retracement to 83.250. Look for rejection of resistance right now near 85.000 to enter short on.
by ForexLeague
DXY (USD Index) 4hour Analysis October 24th, 2021 DXY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Recent price action has been very bullish lately on DXY. Going into this week we can see price action continuing bullish after we see a reversal around recent broken structure & our 61.8% fib level near 93.250. How price action reacts here will determine the next 4hour trend. Either a continuation or reversal. Trade scenario 2: If we do price action push lower we can declare this recent formation around 93.800 a daily reversal and NOT a daily continuation. Expect to see more downward pressure. We will be targeting support around 91.500 as that is the next major daily support level.
TVC:DXYLong
by ForexLeague