YGForex

YGForex

As we can see from the trendlines and resistance level drawn, we can see price level is squeezing, signalling to us that a breakout will be happening soon. For now, the question will be whether it is heading up or down? Personally, I see more BEARISH potential for AUDJPY as if we do look through 76.58 price level, it a strong resistance level that AUDJPY follows....

YGForex

As we can see gold managed to hit around 2075 price level where we started seeing bearish movement forming today. We were all anticipating a BEARISH retracement but which level will we be looking at for now. I will like to see gold reaching 1885 price level which will be showing that gold will be back in trend as it heads up. Less impulse movement will also be...

YGForex

NZDCHF managed to reject off a trend support level, with another 61.8 fib level retest. As we start seeing multiple retest on trend resistance, we have to keep in mind that the trend resistance will weaken and thus I will be seeing a potential breakout opportunity. We should always react to the market however if we see another rejection. As of now, I will be...

YGForex

Currently, price level made a nice rejection off 1.7935 resistance level and now we could potentially see a rejection off 23.6 fib level. To determine if a BULLISH long term retracement is possible, I will be looking out for the breakout from this strong resistance level @1.7935. If so, we could see it heading towards 61.8 fib level. However, I am leaning towards...

YGForex

We can currently see a nice possible head and shoulder pattern forming in this daily time chart. I will be looking out for a nice rejection off resistance level @0.9615 (forming the right shoulder) before we see a bearish movement starting to form. We should be looking out for a nice rejection at that level. Price could potentially move to 23.6 fib level where it...

YGForex

Currently, we are looking at GBPCAD potential breakout of the trend line giving it a BEARISH trade opportunity to range between 61.8 fib level and 1.7258 support level. This will be an important point to note as we also see a potential breakout from middle band giving it a bearish strength to test the lower band. As of now, I will be bearish on GBPCAD and will...

YGForex

Lets start off, by looking at the overall picture of USDCAD. We can see a nice double bottom pattern in the daily chart which I believe a nice "W" shape can occur. If we look closely, we can see that price level rejected off a key trend support level with a nice BULLISH upside movement. As of now, I am seeing a possibility for USDCAD to hit the 78.6 fib level...

YGForex

As we can see, GBPJPY brokeout from its resistance area (red area) followed by a nice retest and bullish movement upwards. I will be looking to see GBPJPY testing 23.6 fib level where we can see a short price rejection followed by a continuation bullish to the trend resistance line. Also, there will be a resistance level @ 138.65 where I believe price will travel...

YGForex

Lets look into EURUSD in a monthly chart point of view. We can EURUSD obeyed the monthly trend resistance line (Red Line) closely but recently we saw a possible breakout to this level. From an elliot wave point of view, we saw a nice wave 3 completing and starts to see bearish signs after a long bull which could signal to us wave 4 could possibly form soon....

YGForex

CHFJPY has broke out its 114.45 resistance level which now turns into a rather important strong support level for CHFJPY. Looking at bollinger bands we can see it travelling down to the middle band which I believe will be the level of rejection as current price level is retesting the broken resistance level and could potentially give us a good movement to the...

YGForex

EURJPY has a clear double top pattern as we can see more clearly in the daily timeframe which I circled in my chart. We saw a nice rejection off the top level starting to form a possible bearish downturn. Interestingly, as price level falls, we saw a nice bullish retracement to the 123.60 price level resistance level and if we were to use fibonacci retracement for...

YGForex

First,lets take a look at gold price action. We can see that price currently reaching 2 resistance level: Trend Resistance and Resistance Level @1896. Overall, Gold has respected this trend support and resistance greatly as it climbs up further. We saw it breaking the first trend resistance (dotted line) and now closing up near the 1890-1900 price level. So...

YGForex

As we can see GBPUSD have been testing this resistance area (red zone) several time with no breakout yet. Definitely, since price level is near the strong resistance area, it will be wise to take a SHORT trade as for now if we do not see any breakout. If we do, be prepared to adapt by taking the LONG opportunity when it retest this resistance zone. For now, I do...

YGForex

Lets look at the overall picture of CADJPY, we can see that this pair have been consolidating between 80 to 88 price level for a long time. Currently, price level is definitely below this level and from what I am seeing now, it looks like a huge fakeout movement away from the S&R that it obeys closely to (Bold Lines). We can already start to see a formation of a...

YGForex

As we can see, a 5 wave movement followed by a 3 wave retracement wave is completed and is followed by a strong bullish movement to the upside recently. This show us that there is more to come from this BULLISH movement, potentially a new wave forming. However, for now, I see a nice BEARISH trade opportunity to 23.6 fib level (also a support level there) where...

YGForex

Currently, we can see that price level broke out of both the trend resistance as well as a rather strong support level @0.6592. What we were able to see a is a strong BULLISH volume breaking through this 2 resistance level. What I will be waiting to see to enter a buy position is a retest to the broken resistance level which will be now our strong support level....

YGForex

As of now, we can see price level outside of the trend resistance line. Does that mean a breakout? As of now, Im seeing more of a fakeout possibility as we start to see strong BEARISH signals. First of all, we can see a nice double top (M pattern formed). This action obeys the fib level I drawn earlier without any breakout. In fact, we saw a nice rejection off 0...

YGForex

Lets start off by looking at the price action for AUDNZD, we can see that BULLISH strength has faded giving rise to BEARISH potential. This can be seen from the yellow dotted line I drawn and what we are seeing now is a BEARISH fall. For now, what we saw was a retest to 1.0612 resistance level which it recently broke through. Thus, I will be looking at a nice sell...