YGForex

YGForex

If we look at gold price movement in the 1H timeframe we can see gold bearish drop was strong followed by a retest to the upside. The retest seems weak and if we look at fib test we can anticipate gold to head lower for now.

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Strong bullish movement out of the bearish trend movement. 1.2977 resistance line might oppose some bearish pressure but I expect the price to break this level. Candle from the broke out of trend supports a potential change in trend rather than a "fake-out".

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AUDCAD daily time frame shows an optimistic outlook for this pair with potential bullish continuation. Today candle is crucial and this confirmation shows a nice rejection from 0.9172 price level. First bullish movement testing 0.9290 supports this move as we see bullish strength building up. Good risk and reward opportunity

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Looking at the USDJPY we can see weak rejection off 149 price level as price starts to move out of the bullish trend. I will expect a bearish reversal to 148.30 price level for now before reassessing the direction.

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We can see that GBPUSD managed to breakthrough its upper consolidation level followed by several retest to 1.3059 resistance level. There was no clear direction but we can see price slowly weakening as it heads towards the 1.3032 level. Do keep a look out if price breaks this level we can see price level moving towards the next support zone.

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Price managed to break out of a strong support level @ 0.8375. Next level we will be looking at will be another strong support level @ 0.8349. Do note that there will be bullish pressure at around 0.8360 and do look out if entering this trade.

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After a huge bullish movement by gold, we can see a strong price drop followed by the current consolidation between 2612 - 2624 price level. This signifies a potential bearish continuation. There was a clear rejection from 2624 level after a weak bearish retracement which potential show that price level is leaning towards the bearish side.

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Great bearish pressure between 1.3075 - 1.3098 price level. Lets look out for price a clear rejection off this two resistance zone in red. There will be a strong level to break if price drop to 1.3053 however will anticipate price to eventually reach and challenge 1.3032 price. Short term outlook.

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We managed to see a rather significant breakout of the support level @153.80. Currently, price is near our MA and EMA which may give us a potential rejection which might retest the broken support level. If we managed to see this movement occurring, we can eye for a short opportunity to the next support level. If so, I believe there will be some consolidation...

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As price heads closer to the demand zone (green box), we should start seeing a nice BULLISH pressure building up for this pair. With that, we should start looking out for potential rejections around this level which will give us a retracement opportunity. Previously, we managed to see a clean breakout from the support level @1.2014. For this BULLISH retracement...

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Previously, we saw price movement for AUDCAD fall short in retesting the 361.8% with an engulfing BULLISH candle after the BEARISH candle. This evinces a great BULLISH pressure pushing price up for AUDCAD. Having said that, a breakout of the trend line is yet to be confirmed for now. We await further confirmation for the breakout or a BEARISH continuation to...

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Currently, we can see that dogecoin is moving towards an area of BULLISH pressure. Today's candle managed to reject off the 61.8% fib level as we see a BULLISH candle. However, BULLISH pressure as of now does not seem to be making a strong rejection. I am expecting price to break down this level moving towards 78.6% fib level before we see greater BULLISH...

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Looking at USDJPY price action, we can see that USDJPY BULLISH momentum targeted a full fib movement to 461.8% fib level. After that, we managed to see BEARISH pressure taking over with price hitting all the way till 261.8% fib level followed by a short BULLISH movement to 361.8% fib level. Now price is near a resistance level @109.42 where I expect a rejection...

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After seeing a great BEARISH movement, EURCAD managed to make a substantial BULLISH retracement followed by a BEARISH continuation. If we look at today candle, we see a great BULLISH candle which I classify it as a "deception" candle. This candle form as a short term retracement candle for EURCAD and retest the broken level. I will be expecting a BEARISH...

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Looking at GBPCAD, we can see that the previous BEARISH movement failed to reach 161.8% fib level. In fact, price retested the broken support level @1.6950. This could signal another wave of BEARISH movement as we are currently eyeing for 2 possible price rejection level. I have identified the supply zone (red area) where I strongly believe BEARISH pressure will...

YGForex

As we see a strong BULLISH movement upward, price is reaching closer to a 461.8% fib movement. Also, there is a strong resistance level @88.86 price level where I expect some BEARISH pressure on this pair. We could be eyeing for a potential short position from there towards 361.8%. If the BULLISH strength remains, we should see a rejection there, brining price to...

YGForex

Just a quick update from my previous take on Bitcoin. Previously, I was keeping a bias on price potentially dropping all the way back to 28k-30k range. Is it still possible? My take for now is yes but it might take awhile. With the rising "hype" over Bitcoin, it is less likely we will see such movement yet. In fact, Bitcoin has been performing well with many...

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Looking at our chart, we can see that there is still a great upward potential for GBPJPY. We managed to see small retracement as price made a strong BULLISH climb. Currently, there is no sign of stopping as we failed to see confirmation candle for a BEARISH retracement. In fact, price seems to be BULLISH as we managed to see a crucial rejection off our EMA, MA and...