31st July 2014 Market Outlook

Aussie Dollar – AUD/USD drops significantly lower yesterday as we expected it would happen in the near term in our 30th July 2014 Market Outlook. Aussie Dollar is currently trading at its 0.9326 key support level and this level will dictate where the price is going to head in the coming days. If price breaks this key support level, we might see price continue to head south until the next key support level at 0.9216. However if price show rejections at this key support level, traders may then consider going long at this support level.

AUDUSDrDaily

 

Aussie Kiwi – We have a false break in AUD/NZD at the 1.1021 key resistance level after price attempt to break through this key resistance level. We are likely going to see price fall lower from here and traders may consider selling short at this key resistance level. The next key support level is not seen until 1.0824.

AUDNZDrDaily

 

Loonie Dollar – USD/CAD breaks through its 1.0868 resistance level yesterday. Traders may consider go long at the 1.0868 support level (Previous resistance level) to join this bullish trend. The long term trend is still very bullish at the moment and we might probably see price continue to climb higher in the coming days. The next key resistance level is at 1.0940 and traders that have open long position may consider holding it with a trailing stop until 1.0940 key resistance level is hit.

USDCADrH4

30th July 2014 Market Outlook

Japanese Yen – USD/JPY, bounce off from its 101.20 key support level as we expected in our 25th July 2014 Market Outlook. It’s now trading just below its 102.25 resistance level. Price will need to breakthrough this 102.72–102.25 resistance level in order to move higher. However if price retrace lower from here, we may see price return to its 101.20 key support level.

USDJPYrDaily

 

Aussie Dollar – AUD/USD continue to show weakness after price rejected its 0.9436 resistance level as we expected in our 25th July 2014 Market Outlook. We might see price continue to move lower to its 0.9326 support level in the near term. If price hits the 0.9326 support level, traders may then look for buy signal at this support level until this trading range breakout.

AUDUSDrDaily

 

Loonie Dollar – USD/CAD breaks its 1.0821 resistance level yesterday and is currently trading just below its 1.0868 resistance level. The trend is clearly bullish at the moment and traders may consider going long when price retrace back to 1.0821 support level (Previous resistance level).

USDCADrH4

29th July 2014 Market Outlook

Euro Dollar – EUR/USD continue to stall at 1.3430. The market is waiting for tomorrow FOMC therefore it’s likely that the market continue to stay quiet in the near term. Traders may consider waiting at the sidelines at the moment and if FOMC pushes price up to its 1.3512 resistance level, traders may then consider selling short at this resistance level as the overall trend is still bearish.

EURUSDrH4

 

Aussie Kiwi – AUD/NZD continue to move higher and hit its 1.1021 resistance level as we expected in our 24th July 2014 Market Outlook. At the moment of this writing, price has breached its 1.1021 resistance level. However, price will need to close above this resistance level to valid this breakout. If price closed above this 1.1021 resistance level decisively, we may see price continue to move higher to its next minor resistance level at 1.1111.

AUDNZDrDaily

 

Pound Aussie – GBP/AUD rejected its 1.8013 support level last Thursday, price might move higher from here to its next resistance level at 1.8173. The recent momentum is bearish and it’s safer to go short rather than long at the moment. If price successfully bounce higher from this 1.8013 support level and hit its 1.8173 resistance level, traders may then consider selling short at this 1.8173 resistance level if price shows rejections at this resistance level.

GBPAUDrDaily

28th July 2014 Market Outlook

Pound Dollar – GBP/USD fails to bounce higher from its 1.7059 support level and have successfully broke this support level. The long term trend is still bullish but the short term trend is bearish and traders may consider selling short if price approach its 1.7059 resistance level (previous support level). The next key support level is not seen until 1.6919.

GBPUSDrH4

 

Silver – Last week we have drastic moves in Silver market. Price dropped significantly lower on Last Thursday but snap back up on the next day. Price also clearly rejects the 20.30 support level showing buyers coming in. Traders may consider going long at this support level. However if price breaks lower this 20.30 support level, we may see price continue to head south until the next support level is hit at 19.77.

XAGUSDrDaily

 

Euro Aussie – EUR/AUD broke its tight consolidation last week, we are likely going to see price continue to falls further in the coming days. Traders may consider selling short if price retrace back up to its 1.4375 resistance level to join this bearish trend.

EURAUDrDaily

25th July 2014 Market Outlook

Euro Dollar – EUR/USD continue to stalls after the significant move lower. Price shows some rejection yesterday and we might see price rally from here to its 1.3512 key resistance level. Traders may then consider sell short at this 1.3512 key resistance level if price approach it.

EURUSDrH4

 

Aussie Dollar – AUD/USD rejected its 0.9436 resistance level yesterday. Aussie dollar is currently trading in a trading range and price is likely to falls back to its 0.9326 support level in the near term. However if price breaks its 0.9510 resistance level (1st July 2014 high), we might see price continue to trade higher from here.

AUDUSDrDaily

 

Japanese Yen – In USD/JPY, 101.20 key support level continue to hold firmly and price has bounce higher from this support level. We are likely going to see price continue to move higher from here to its next resistance level at 102.25. Price will need to breaks through the 101.20 key support level decisively to invalid this key support level. Until then, traders are recommended to stay long/buy when price approach this 101.20 key support level.

USDJPYrDailyonsider buying on dips to join this strong bullish move.

24th July 2014 Market Outlook

Aussie Kiwi – AUD/NZD broke its 1.0824 key resistance level and shot significant higher as we expected in our 22nd July 2014 Market Outlook. We are likely to see price continue this strong bullish move and traders that have missed out this trade could consider buying on dips to join this strong bullish move.

AUDNZDrDaily

 

Aussie Yen – AUD/JPY has shot significantly higher recently after it broke its 95.39 key resistance level. Traders may consider buying when price retrace back to 95.39 key support level (Previous resistance level). If price continue to take out the resistances above it, we are likely to see this market to continue its bullish move in the coming weeks.

AUDJPYrH4

 

Kiwi Dollar – NZD/USD broke its 0.8648 key support level today morning. This comes without surprise as we have been in a strong down trend recently as we commented in our Daily Market Outlook. 0.8648 key support has now become new resistance level in this fresh bearish trend and traders may consider selling short if price retrace back up to this 0.8648 key resistance level.

NZDUSDrH4

23rd July 2014 Market Outlook

Euro Dollar – EUR/USD didn’t bounce higher from its 1.3512 support level before continue its bearish move. Price broke its 1.3512 key support level yesterday with strong sell-off suggesting more sellers are getting into this market. The trend is very bearish at the moment and traders may consider selling short on rallies or wait for a retracement back up to 1.3512 key resistance level (previous support level) before shorting. We are likely going to see price continue its bearish move in the coming days.

EURUSDrH4

 

Kiwi Dollar – NZD/USD fell lower to its 0.8648 support level after price rejected its 0.8723 resistance level as we expected in our 21st July 2014 Market Outlook. Price once again shows some buying pressure near its 0.8648 support level. We might see price bounce higher from here to its 0.8723 resistance once again. However given that the overall trend is still bearish, traders are recommended to stay short rather than going long.

NZDUSDrH4

 

Euro Pound – EUR/GBP fell lower to its 0.7888 support level after rejecting its 0.7914 resistance level as we expected in our 18th July 2014 Market Outlook. If price breaks its 0.7888 support level, we might see price continue to move lower in the coming days. The long term trend is still very bearish, traders may consider selling short on rallies to catch on this bearish trend.

EURGBPrH4

22nd July 2014 Market Outlook

Euro Yen – EUR/JPY breaks above its triangle yesterday that formed just above a key support. Price is likely to move higher in the near term. Overall trend is still bearish and this would be a counter trend trade. For more conservative traders, 137.74 resistance level will offer a lower risk shorting opportunity as the long term trend is still bearish.

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Loonie Yen – CAD/JPY is trading just above its 94.03 key support level. Price seems to have some rejections at this key support level. Traders may consider going long at this key support level with a stop below its recent low. If price successfully rejected this 94.03 key support level and move higher form here, we may see price revisit its recent high at 96.00.

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Aussie Kiwi – AUD/NZD is currently trading just below its 1.0824 key resistance level. This is the key resistance level that will decide which way AUD/NZD is going to head in the coming days. If price rejected this 1.0824 key resistance level, we may see price move lower from here. However, if price breaks through this 1.0824 key resistance level decisively, we may see price to move higher from this resistance level.

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21st July 2014 Market Outlook

Euro Dollar – EUR/USD move lower and hit 1.3512 key support level after it breaks its 1.3585 support level as we expected in our 16th July 2014 Market Outlook. Price then rejected its 1.3512 key support level last Friday. We expect price to move higher from here to its 1.3585 resistance level (previous support level). Given that the bearish momentum we have in this market recently, traders may consider selling short at this 1.3585 resistance level.

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Pound Dollar – GBP/USD fell back to its 1.7060 support level last Friday as we expected in our 16th July 2014 Market Outlook. Pound is still currently trading within its trading range and traders may consider going long at this 1.7060 support level. Price is likely to move higher to its 1.7178 resistance level in the near term.

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Kiwi Dollar – NZD/USD successfully moved higher from its 0.8648 support level to 0.8723 resistance level as we expected in our 18th July 2014 Market Outlook. The short term trend is still bearish and traders may consider selling short at this 0.8723 resistance level if there’s sell signal around this resistance level. If price could not breach this 0.8723 resistance level and rejects it, we are likely going to see price to move lower in the coming days.

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18th July 2014 Market Outlook

Loonie Dollar – We have a triangle forming in USD/CAD currently. Given that we have a strong bullish move on last Thursday, we expect to see price breaks above this triangle and move higher to its next resistance level at 1.0821. However if price breaks below this triangle, we may see price continue to move lower to its next support level at 1.0679.

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Euro Pound – EUR/GBP rejected its 0.7914 resistance level this morning. Overall trend is still very bearish and traders may consider selling short at this 0.7914 resistance level with a target at 0.7888. We are likely going to see price continue to move lower from this 0.7914 resistance level and potentially break the 0.7888 support level as well.

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Kiwi Dollar – NZD/USD rejected its 0.8648 support level this morning and we are likely going to see price move higher from this support level to 0.8723 resistance level. The short term trend is bearish and traders may consider selling short if price hits 0.8723 resistance level.

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