30th June 2014 Market Outlook

Pound Dollar – GBP/USD consolidates within its 1.7060 resistance level and 1.6919 support level. Both these resistance and support level will determine where Pound is heading in the coming weeks. If price break through either one of these levels, we are likely going to see Pound continue its move on the direction of the breakout. At the mean time price is likely continue to be contained within this consolidation and traders may consider buying at support and selling at resistance. Given that the trend is still bullish, longs are safer than shorts.

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Japanese Yen – Last week USD/JPY fells lower and is approaching its 101.20 key support level. Japanese Yen has been in this trading range for several months now and traders may continue to buy at the lower end of this range and sell at the higher end of this range until it’s broken. If price shows rejection at this key support level, traders may consider going long at this level with a stop below.

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Australian Dollar Kiwi – AUD/NZD is in a down trend since the 11th June 2014 huge selloff. Traders may consider going short when price retrace back up to its 1.0770 or 1.0824 resistance level for a safer entry. Price is likely to continue its bearish moves to its next support level at 1.0647.

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27th June 2014 Market Outlook

Euro Yen – EUR/JPY broke its 138.33 support level yesterday. Given that the trend is still bearish, traders may consider going short at the 138.33 resistance level to join this bearish momentum. Price is likely continue to falls further to its next support level at 137.74.

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Australian Dollar – Once again AUD/USD climb higher to its 0.9436 key resistance level and it has tested this level several times. We expect price to break this key resistance level soon and traders may attempt to go long at the break of this key resistance level. All fundamentals are pointing Australian Dollar to go higher which increase the odds of going long.

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Gold – Gold has been consolidating in the last several days after the significant bullish move. It’s common to have consolidation after such a strong move and until price breaks above or below this consolidation, traders may consider waiting at the sideline and attempt to go long/short at the break of this consolidation. There’s a key resistance sitting just above this consolidation at 1331.00. Price will need to breaks through this resistance level in order to continue this bullish move. If price fails to breaks through this resistance level. We are likely going to see price falls lower to its 1280.5 support level.

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26th June 2014 Market Outlook

Australian Canadian Dollar – Followed by our 25th June 2014 Market Outlook, AUD/CAD retraced back up to its minor resistance at 1.0090 and show some rejection at this resistance level. With the strong bearish trend, price is likely to move lower from here and traders who have missed our previous trade may consider shorting at this minor resistance level. If price successfully breaks through the 1.0058 support level, we may see price continue to move lower to its next support level at 1.0020.

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Pound Kiwi – GBP/NZD fells lower from its 1.9610 resistance level to 1.9358 support level as we expected in our 13th June 2014 Market Outlook. Traders who have shorted as we recommended should consider taking huge profits off the table at this 1.9358 support level. This trade has provided traders with great risk reward ratio. If price breaks through this 1.9358 support level decisively, we are going to see price falls lower in the coming days.

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Swiss Franc – USD/CHF has been very kind with us in the last few weeks. Price once again fells lower from its 0.8963 resistance level to its 0.8910 support level as we expected in our 23rd June 2014 Market Outlook. Traders that have shorted at this 0.8963 resistance level as we recommended may consider taking profits at this 0.8910 support level. If price breaks lower this 0.8910 support level, we are likely going to see price move lower in the coming weeks. However 0.8910 is a key support level and in the short term, price is likely to bounce higher from here. If price retraced back up to 0.8963 resistance level once again, traders may consider selling short at that resistance level again if there’s sell signal.

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25th June 2014 Market Outlook

Australian Canadian Dollar – AUD/CAD sliced through the 1.0080 previous swing low easily as we expected in our 24th June 2014 Market Outlook and also hit our 1.0058 target as we expected in our 23rd June 2014 Market Outlook. Traders that have shorted at the 1.0136 resistance level as we recommended could consider taking profits or scale out position at this 1.0058 support level. If price breaks through this 1.0058 support level, we are likely going to see price continue to moves lower to its next support level at 1.0020 and even 1.0000 level if the bears are strong enough.

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Australian Dollar – AUD/USD did not breaks through the 0.9436 resistance level successfully and fells lower from that resistance level, we expect price continue to moves lower to its 0.9326 support level. If price shows rejection at this 0.9326 support level or there’s buy signal here, traders may consider going long at this support level.

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Pound Yen – This morning GBP/JPY moves lower and is currently trading at its 172.73 support level. GBP/JPY is in a strong bullish trend recently and traders may attempt to go long at this 172.73 support level with a stop below. Price might also move lower to 172.50 before rising thus traders may consider placing their stops below it as well.

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24th June 2014 Market Outlook

Australian Canadian Dollar – AUD/CAD moved lower from its 1.0136 resistance level as we expected in our 23rd June 2014 Market Outlook. Traders that have shorted at this resistance level as we recommended could target the next support level at 1.0058. Price will need to break the last swing low at 1.0080 before continue moving lower. If price shows sign of rejection at 1.0080, which is previous swing low, traders may consider scaling out position to protect profits. However, with the strong down trend we have in this currency pair, we are likely to see price slice through the previous swing low.

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Euro Australian Dollar – EUR/AUD breaks its 1.4442 support level last Friday. Price has retraced back up to the 1.4442 support level which now serves as a resistance level and traders may consider going short at this resistance level. The long term trend is still bearish and we might see price continue to move lower to its next support level at 1.4375.

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Euro Yen – Yesterday EUR/JPY rejected its 138.33 support level and starts to move higher from there. The short term trend is bullish and traders may consider going long at this 138.33 support level. Price is likely to continue this bullish move to 138.90 resistance level and if price breaks through this resistance level, price might continue to move higher to the next resistance level at 139.33.

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23rd June 2014 Market Outlook

Swiss Franc – Once again USD/CHF retrace back up to its 0.8963 key resistance level as we expected in our 20th June 2014 Market Outlook. Price rejected this resistance level last Friday and it’s likely going to continue its bearish move to its 0.8910 support level again. Traders may attempt to sell short at this resistance.

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Pound Dollar – GBP/USD retraced lower before moving higher as we expected in our 20th June 2014 Market Outlook as well. Although we did expect it will retrace deeper before continue its bullish move, but it still provides traders a lower risk entry and it’s heading to its 1.7060 resistance level again. With this strong up trend, price is likely going to break through this 1.7060 resistance level. If price breaks this resistance level, traders may consider going long at the break of this resistance level.

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Australian Canadian Dollar – AUD/CAD is currently trading at 1.0136 resistance level. Traders may consider shorting at this resistance level if there’s sell signal at this level. With last Friday strong bearish movement, we expect price to continue this bearish movement in the near term. If price rejected this 1.0136 resistance level, we are likely going to see price continue this bearish movement to its 1.0058 support level.

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20th June 2014 Market Outlook

Swiss Franc – USD/CHF breaks its 0.8963 key support level and move lower to its 0.8910 support level as we expected in our 19th June 2014 Market Outlook. Traders that have shorted as we recommended may consider taking profits at this support level. In the short term, price is likely to move back higher to its previous 0.8963 support level which now serves as a resistance level. If there’s sell signal at this 0.8963 resistance level, traders may then consider shorting this currency pair again.

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Silver – Yesterday silver jumped to a 13 week high and it’s currently trading at 20.75 resistance level. This move is very significant and bulls are in control at the moment. We have expected price to move higher if price breaks the 19.77 resistance level in our 18th June 2014 Market Outlook. Traders who have longed at the break should consider taking profit at this 20.75 resistance level as price is likely to retrace a little before continue its bullish move. If price breaks through 20.75 resistance level decisively, we are likely going to see price continue its bullish move to the next resistance level at 21.60.

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Pound Dollar – GBP/USD is currently trading at its 5½ year high and it’s in a very strong up trend. Traders may wait for a retrace to its 1.6990-1.7000 support level and enter a long position to join this strong bullish market. Pound is likely to move higher in the coming days and waiting for a retrace will provide traders lower risk entry.

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19th June 2014 Market Outlook

Swiss Franc – USD/CHF moves lower again from its 0.9006 support level to 0.8963 support level as we expected in our 18th June 2014 Market Outlook. Price is currently trading at the lower end of its trading range and if this 0.8963 support continue to holds, price is likely to bounce from this 0.8963 support level again. However price has been in this trading range for quite some time and it starts to show some signs of breaking lower with the minor lower low and lower high printed on the chart. If Swiss Franc breaks lower this support level, it will continue its bearish move to its next support level at 0.8910.

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Australian Dollar – AUD/USD bounce higher from its 0.9326 support level as we expected in our 16th June 2014 Market Outlook. It’s heading to its 0.9436 resistance level again and traders who have went long at the 0.9326 support level as we recommended in our 16th June 2014 Market Outlook may consider taking profit or scaling out at this resistance level. All the fundamentals are still supporting AUD/USD to move higher and if price breaks above 0.9436 resistance level, traders may attempt to go long at the break of this key resistance level.

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Euro Australian Dollar – EUR/AUD is trading at its 1.4442 support level. Traders may consider going long at this support level as the short term trend is bullish. If price bounce from this 1.4442 support level, we are likely to see price continue its bullish move to 1.4532 resistance level. If price breaks above the 1.4532 resistance level decisively, we are likely going to see more upside move in the coming days.

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18th June 2014 Market Outlook

Swiss Franc – USD/CHF moves higher from its 0.8963 support level to 0.9006 resistance level as we expected in our 17th June 2014 Market Outlook. Price is trading within a trading range and if price continue to contain within this trading range, traders may attempt to sell short at the higher end of the range and buy when it’s at the lower end of the range. Tonight we will have FOMC economic projections, FED interest rate and its MBS purchase program announcement. The market will be very volatile tonight and USD/CHF is likely going to breaks its trading range tonight.

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Silver – Yesterday silver rejected its 19.56 support level and move higher to the 19.77 resistance level as we expected in our 17th June 2014 Market Outlook. 19.77 resistance level and 19.56 support level will be the key levels to decide which direction silver will head. If price breaks above 19.77 resistance level decisively, we will have more upside movements in the coming days. However if price breaks below the 19.56 support level, we are likely going to see price reverse down to 19.20 support level and even 18.70 support level if it breaks 19.20 support level successfully.

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Dollar Yen – Japanese Yen has broke its short term triangle pattern and the 102.10 resistance level yesterday and we are likely going to see price continue this bullish movement in the following days and traders may attempt to buy long at this 102.10 support level. We will have important news release tonight and traders who attempt to long this market will need to take the volatility we will have during the news into consideration before initiating a long position.

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17th June 2014 Market Outlook

Swiss Franc – USD/CHF drops from 0.9006 resistance level to 0.8964 support level as we expected in our 16th June 2014 Market Outlook. Swiss Franc is currently trading within a trading range and traders may trade this range until its broken out. Price rejected the 0.8964 support level today morning and if this support holds, we are likely going to see price continue to moves higher back to its 0.9006 resistance level.

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Gold – Followed by our 13th June 2014 Market Outlook, Gold has its free fall from its 1280 resistance area. Price is likely to continue its bearish move to its earlier trading range (Blue box). Traders who have shorted at 1280 resistance area may consider cover their short position before 1240 support level.

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Silver – Silver has rejected its 19.77 resistance level as well and traders may consider going short at this resistance level. However, we have a support level sitting below at 19.56. Price need to breaks lower this support level in order to continue its bearish move. Silver might also moves higher from this support level in the short term and aggressive traders may attempt to long at this support level. However if price breaks below this 19.56 support level, we are likely to see price continue its bearish move to its next support level at 19.23.

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