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AUDUSD 12/21/19 Daily AnalysisAUDUSD Neutral Idea On high time frames we can see that AU is very bearish and is currently approaching a key resistance level around 0.69250 which is also a daily 61.8% fib level I would like to see how price action reacts at this level before making a move. Ideally for a long setup we would like to see resistance broken and retested as support If we are to continue with short setups strong rejection from this level would be perfect for us to then enter on. Either way, we are waiting for confirmation
by ForexLeague
USDCAD 4hour 12/15/19USDCAD Short Idea Higher time-frames show that price action has been ranging within the 1.33500 - 1.30000 area and has yet to make a break to the up or downside On this daily time-frame we have been seeing lower highs forming and price action is once again heading toward support at the bottom of the range For us to target lower a break and retest of 1.31450 would be ideal and the drop to 1.30000 would become very likely However, if we see price reverse at 1.31450 it would need to break 1.31930 to start the transition to the upside on this time-frame
Short
by ForexLeague
EURJPY Daily 12/15/19EURJPY Short Idea Higher time-frames have been very bearish and have held a steep downtrend for over a year Currently on the daily timeframe we have seen a large retracement to the 88.6% fib level which has left a huge 100 pip wick after news last week Price action is resting at the weekly level around 121.500 where we are waiting to see if this push will sustain or if it will fall back into the range and begin to push downward once again If we see price action fall and retest the weekly level we are looking to target toward our lower trend line near 119.600 and major support level. This drop will be about 180+ pips
Short
by ForexLeague
XAUUSD (GOLD) Daily 12/15/19Gold Neutral Idea Higher time-frames suggest Gold is still bullish but on the daily time-frame we are still within this range between 1477.50 and 1450.00 There is no real direction as of yet while in this range but we are ultimately looking for a break to the upside when the 1477.50 resistance level is broken Long term I think gold will continue it’s bullish trend up to 1560.00 area but for now we are holding at key support around the daily 38.2% fib level
FX_IDC:XAUUSDLong
by ForexLeague
DXY (USD INDEX) Daily 12/15/19DXY Long idea Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD Potential to reach 98.00 - 98.500 area
TVC:DXYLong
by ForexLeague
EURCHF Daily 12/15/19EURCHF Short Idea This pair is still very bearish on higher time-frames. Price action rejected the daily 38.2% fib level and has been forming lower highs. Last week we saw a surge in volume from the bulls after news followed by quick rejection leaving a giant daily wick, this clearly shows huge bearish volume is present Ideally we would like to see a break and retest of this pattern and the lower trendline before we can target lower Upon a break and retest we will look to target toward the 0% daily fib level which is around 100-110 pips lower If price action continues to push down we are looking to target our major weekly support level around 1.06750 which is about 240-250 pips lower
Short
by ForexLeague
AUDUSD 4HOUR 12/15/19AUDUSD Short idea Higher time-frames still suggest a bearish trend but last week we saw price action push up to the daily 61.8% fib level and major resistance following news The test of the 61.8% fib level is the second time price tested and has shown significant rejection from this level We are currently looking for more bearish setups to present themselves early in the week before we can begin targeting lower. Our targets will be the lower trendline around 0.68000 which us about 70-80 pips lower. Upon a break of this trendline we will target the 0% fib level near 0.66800 which is around 190-200 pips lower
Short
by ForexLeague
AUDJPY 4hour 12/8/19AJ Short idea Ultimately I am looking for more bearish volume to enter short based on higher time frame analysis, however, the daily time frame has been pretty bullish up until recent price action Taking a closer look here on the 4 hour we can see price action forming higher lows around the daily 38.2% fib level and monthly resistance Upon a break and retest of support around 74.00 we will look to target lower toward our lower trendline around 73.350 and even lower toward our weekly support around 71.000 given we see the confirmations necessary
Short
by ForexLeague
EURCHF 4hour 12/8/18EURCHF Short idea Higher timeframe analysis shows strong bearish movement in this pair as well as good structure formation as price action has rejected the daily 38.2% fib level Taking a closer look on the 4 hour timeframe we have seen higher lowers being broken and lower highs forming which suggests more bearish volume is coming Based on 4hour fibs we’re looking for price action to keep pushing lower from the current level and/or retest the 4hour 38.2% fib level around 1.09640 From this area we’re looking for bearish setups to then target toward the -27.2% fib level around 1.09000 and potentially even lower toward our next major support levels
Short
by ForexLeague
AUDUSD 4hour Analysis 12/7/19AUDUSD Long idea Higher time-frame analysis on the monthly and weekly show strong bearish movement, however, price-action is very over extended and is yet to form structure on said time-frames When looking at the daily time-frame we see that price action found a bottom near 0.67000 and has been in a bullish trend since. The 4 hour time-frame shows a strong bullish push followed by consolidation in the form of a symmetrical triangle which suggests more bullish volume to come. Upon a break of the triangle we will look to target toward the relevant higher time-frame trend line near 0.69000 followed by a second target of the 61.8 daily fib level around 0.69300
Long
by ForexLeague
AUDJPY 4Hour 11/30/19AJ Short Idea AJ is still quite bearish on higher time-frames and we have seen a daily transition happen where support was broke and is now being tested as resistance Current price action has been consolidating in an ascending triangle near resistance and we will be looking for strong bearish setups next week before entering short and targeting lower Upon confirmation we are looking to short toward the 23.6% fib level and trend line around 73.200 which is about 90+ pips lower from current price action
Short
by ForexLeague
EURCHF DAILY 11/30/19EURCHF LONG IDEA Higher time-frame analysis shows the EURCHF has been majorly bearish but is quite over extended. On the daily timeframe we have seen a bit of a bullish trend and we expect price action to reach the daily 38.2% fib level at least If the 38.2% is broken we’re going to continue with this daily trend and target the monthly resistance, broken structure & 50% fib level around 1.11500 which is about 120+ pips from current price action If we see significant rejection from the 38.2% fib level with strong bearish setups we could see price action push toward the bottom of the current range around 1.08500
Long
by ForexLeague
NZDCAD DAILY 11/30/19NZDCAD LONG IDEA NZDCAD has been very bearish on the higher time-frames but we have seen a bit of a bullish trend on the daily. We can see that the weekly resistance level around 0.85000 was broken last week and price action is currently consolidating. Although we see a lot of exhaustion on the daily there is bullish pressure still present. On a 4hour time-frame we can see that this area is consolidating in a range and has formed a rectangle. We will need to see some conviction and this range broken but ultimately we are looking to target higher The daily 61.8% and monthly resistance around 0.86400 is going to be our target which is about 115+ pips higher from current price
Long
by ForexLeague
XAUUSD (GOLD) Daily 11/30/19GOLD LONG IDEA Gold is still very bullish on most higher time-frames, however price action currently retraced to the daily 38.2% fib level where we are seeing a daily double bottom form To confirm a bullish continuation we want to see a break of structure at 1477.50 followed by a retest of that same level. Some strong bullish setups pushing price action up and out of this zone would be enough confirmation a long We’re looking to target our monthly resistance and daily 0% fib level around 1550-1560 area
FX_IDC:XAUUSDLong
by ForexLeague
NZDUSD DAILY 11/30/19NZDUSD SHORT IDEA We’re still looking bearish on this pair and it has been consolidating in the current price range near the daily 38.2% fib level All last week NU has been ranging within a rectangle pattern and we are currently waiting for conviction At the current price zone there a little bit of confluence: the daily 38.2%, major resistance, broken monthly structure which is now acting as resistance For us to confirm a sell we need to see some strong bearish movement from this level. Ideally a bearish engulfing down and out of this rectangle and through the moving averages would be perfect. We’re looking to target toward our weekly support around 0.62750 which is about 140 pips lower from current price
Short
by ForexLeague