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XAUUSD 4hour Analysis June 7th, 2020Gold Long idea Overall higher time frames are very bearish but we have seen a smaller bearish trend form pushing price action back down toward our monthly support around 1675.00 From this level we want to see a strong bounce which breaks minor resistance levels and starts forming higher lows. (The blue arrow) We will remain bullish and look to target 1800.00 The orange arrow represents the trade path that begins a daily bearish transition. Look to enter on lower highs and target next significant support levels.
FX_IDC:XAUUSDLong
by ForexLeague
EURJPY 4hour Analysis June 7th, 2020EURJPY Long Idea Higher timeframes have been primarily bearish but we saw a clear break of our daily descending channel We are now seeing a strong bullish trend establish itself. Price action pushed all the way up to our major resistance zone around 123.500 From here we have two potential scenarios: Price action momentum continues and pushes higher into our next range. We will re-analyze but continue with a bullish outlook. Price action reverses from the current level and heads toward a key fib level The blue arrow represents scenario 1 and is the likely trade path for this 4hour trend The orange arrow represents scenario 2 and is only a pullback in an overall bullish trend
Long
by ForexLeague
AUDJPY Daily Analysis June 7th, 2020AUDJPY Long idea The monthly and weekly timeframes are very bearish, however, we saw this daily timeframe turn extremely bullish last week. We saw a break of our descending channel and large bullish volume enter the market pushing price action up toward our key monthly level around 76.000 From this level we have two potential scenarios: Bullish momentum continues and pushes price action through this monthly resistance level. We will then look for long positions targeting the 80.000 handle Price action reverses at the current level and presents a short opportunity down toward a key fib level and other major support levels.
Long
by ForexLeague
AUDUSD 4hour Analysis June 7th, 2020AUDUSD Long idea From the sheer volume this pair has been showing we have a strong possibility that price action will reach the -27% fib level and major monthly resistance around 0.70800 before showing signs of a reversal The blue arrow represents the trade path where bullish volume continues and price action gets pushed higher The orange arrow represents a reversal from the current area and sends price action into a retracement toward our 0.67500 structure zone which is also our 61.8% fib level
Long
by ForexLeague
DXY (USD Index) Daily Analysis June 7th, 2020 DXY Short idea Based on last weeks huge bearish momentum I will have a bearish bias coming into this week. It looks very likely that we will see our monthly zone tested around the 96.00 area before any sort of reversal will be considered. The blue arrow represents the most likely trade path down to the 96.00 area The orange arrow represents a break of this bearish channel and a retracement to our key resistance and 61.8% (98.50) fib based on the position of current price action.
TVC:DXYShort
by ForexLeague
EURJPY 4hour Analysis 5/31/20EURJPY Long Idea This pair is very bullish on this 4hour timeframe and is looking to continue with this trend, however, we are pretty extended at this point a retracement is likely to occur. Look for a bounce off the 118.500 area which is a confluence area with structure, 50% fib level and clear support. The blue arrow is the likely trade path for this pair and we will be entering a long position if proper bullish setups present themselves on this timeframe and lower. We could see a strong push all the way up to our weekly resistance level around 121.250 The orange arrow represents the movement in price action needed to consider short positions
Long
by ForexLeague
1
EURUSD 4hour Analysis 5/31/20 EURUSD Long idea This pair has turned majorly bullish on the 4hour timeframe breaking our daily range. Current price action is in a strong bullish trend and is looking to make another push higher toward key resistance and our -27% fib level around 1.11800 The blue arrows are the most likely trade paths for current price action which support our bullish sentiment on this timeframe The orange arrow represents how price action needs to move in order to consider a bearish trade opportunity
Long
by ForexLeague
AUDJPY 4hour Analysis 5/31/20AUDJPY Long Idea Much like AU we are seeing price action push past daily LH’s and is looking to form a bullish transition. On the 4hour timeframe and lower we are looking for strong bullish setups at market open to present a bullish trade opportunity. Look to target our -61.8% fib level around 72.850 The blue arrow represents the likely trade path for this week, price action could push much higher if we see this daily resisting trendline break The orange arrow represents the potential bearish trade scenario if our supporting structure zone around 71.000 breaks.
Long
by ForexLeague
AUDUSD 4hour Analysis 5/31/20AUDUSD Long Idea This pair is currently mid formation of a daily transition to the upside! Meaning the daily bearish 100% fib level has been passed and price action may be looking bullish for now. On the 4hour chart price action is showing strong bullish momentum and we’re looking to make a push toward 0.67500 which is looking very likely. Upon market open look for strong bullish setups on the 4hr and on lower timeframes to confirm the trade The blue arrow represents the likely scenario for current price action. The orange arrow represents a potential bearish scenario if the bulls fail to continue with momentum.
Long
by ForexLeague
DXY 4hour Analysis 5/31//20DXY Long Idea Last week we saw a huge bearish move on DXY and price action was pushed down toward our 98.50 zone where we are currently seeing some rejection Price action is still very much within this range and the likelihood of a pullback to 99.15 ish high The blue arrow is the likely trade path for this week as it supports all higher timeframe sentiments The orange arrow is the secondary trade path which supports the continuation of this recent bearish push
TVC:DXYLong
by ForexLeague
EURJPY 4hour Analysis 5/24/20EURJPY Long Idea Higher timeframes on this pair are primarily bearish, however, we are seeing a strong 4hour bullish trend emerge after breaking key resistance. Currently we have seen price action retrace to the 61.8% fib level and looks to be getting ready for a bounce. The blue arrow represents the most likely trade path considering we see more bullish setups from at the current level. Look to target higher toward the -61.8% fib level The orange arrows is the trade path that would need to take place for us to start considering short opportunities.
Long
by ForexLeague
EURUSD 4hour Analysis 5/24/20 EURUSD Short Idea Higher timeframes are primarily bearish on this pair but on this 4hour timeframe we have seen significant ranging between 1.10000 & 1.07750 We have an active short on this pair as we saw a bearish transition take place near the top of the range. The blue arrows are our trade projection and seem very likely based on strong bearish momentum and confirmations The orange arrow represents the scenario where we see a bounce from the current level and a potential pullback toward a fib level where we could see another potential opportunity to short.
Short
by ForexLeague
AUDJPY 4hour Analysis 5/24/20AUDJPY Long Idea The higher time frame is primarily bearish but we have seen a very strong 4hour bullish trend much like AU We are going to continue with this bullish 4hour trend and look for long setups within this 4hour bullish channel Confirmation to enter long could be seen after a break and retest of lower timeframe structure around 70.600 (the blue arrow) Look to target toward the -27.2 fib level around 71.650 The less ideal scenario would be a push lower toward the bottom of this 4hour channel (the orange arrow). Look for strong bearish setups at the current level with closure below our 38.2% fib level.
Long
by ForexLeague
AUDUSD 4hour Analysis 5/24/20AUDUSD Long Idea The higher timeframes are bearish on this pair but we have seen very strong 4hour bullish volume lately We are currently favoring a 4hour bullish push higher toward the top of this channel (the blue arrows) and a break and retest of 0.65580 would be confirmation enough The other potential scenario would be a drop in price action toward the bottom of this channel (the orange arrow). To enter short we need to see strong bearish setups at the current area with closure below 0.65150 Until this channel breaks from strong bearish momentum we will remain bullish on this pair
Long
by ForexLeague
EURJPY Daily Analysis 5/17/20EURJPY Short Idea This pair is very bearish on higher timeframes and is also in a very strong daily bearish channel, much like EU In the last couple weeks we saw a break of our major monthly support level followed by a retest which confirmed a Lower High. From the current level we want to see bearish setups which would be confirmation enough to enter short. Right now it’s looking like a 4 hour double top which further confirms our short bias. The blue arrow represents a high probability trade we will take once we have the entry confirmation. Look to target lower toward major support levels.
Short
by ForexLeague
AUDJPY 4hour Analysis 5/17/20AUDJPY Short Idea This pair has been primarily bearish on higher times but has been in a strong 4hour bullish trend up until this current level around our 70.000 resistance level. At the 70.000 level we saw a double top form followed by lower timeframe bearish transitions, very similar to what we saw on AU At the current level we want to see this yellow 4hour support zone break followed by more lower timeframe bearish transitions. The blue arrows are the preferred and highest probable trade outcome here. Look to target lower toward 67.500 after we see a lower high confirmed below or at the yellow 4hour zone.
Short
by ForexLeague
1
AUDUSD 4hour Analysis 5/17/20AUDUSD Short Idea This pair played out exactly as expected last week. We saw rejection from a key weekly resistance zone in the form of a double top and then saw lower timeframe transitions. This gave us the confirmation to enter short and target our next major support level around 0.64000 From this level we want to see this bearish transition continue and play into the overall daily bearish trend. This could be a huge move! Upon similar transition confirmations look to enter short and target lower toward major support levels.
Short
by ForexLeague
2