29th August 2014 Market Outlook

Gold – Gold moved higher to the 1295.50 resistance level as we expected in our 28th August 2014 Market Outlook after price rejected the 1282.50 support level which is also the neckline of the double bottom formation. Traders who went long as we recommended should have taken profits at the 1295.50 resistance level. We are likely going to see price make a short term retracement before moving higher and if price breaks through the 1295.50 resistance level, we might then see price continue this bullish move to the next resistance level at 1305.50.

XAUUSDrH4

 

Aussie Dollar – AUD/USD is slowly building up its strength as it broke its double bottom formation neckline. However there’s is a resistance level at 0.9373 sitting just above the neckline breakout point. Price will need to break through this 0.9373 resistance level in order to move higher. If price fail to break through this resistance level, the double bottom will be invalid setup for longs. Traders may consider going long at the break of 0.9373 resistance level as we are likely going to see price move higher to the next key resistance level at 0.9461 if price successfully break through the current 0.9373 resistance level.

AUDUSDrDaily

 

Kiwi Dollar – NZD/USD on the other hand is showing signs of bearishness as price rejected the 0.8400 key resistance level. Given that the overall long term trend is still bearish, we could see price fall lower from here and retest the previous low or even the 0.8260 support level if the bears continue to be in control. Traders may consider selling short at this 0.8400 key resistance level to join this strong bearish trend.

NZDUSDrDaily

28th August 2014 Market Outlook

Loonie Dollar – USD/CAD fell lower yesterday after price rejected the 1.0984 resistance level as we expected in our 22nd August 2014 Market Outlook. The significant drop in USD/CAD has broken the 1.0875 support level and have created a double top formation as well. Traders that have shorted as we recommended may consider taking profits or scale out at current price level and continue to hold on to the short position. We might see price continue to move lower to the next support level at 1.0795 if the bears continue to take control.

USDCADrDaily

 

Gold – Gold has formed a double bottom formation at the 1272.00 support level which signals the bulls are entering the market slowly. Price retrace back to the 1282.50 support level yesterday which traders may consider buying long if buy signals shows up in this market. If price bounce from here, we could see price continue to move higher to the next resistance level at 1295.50.

XAUUSDrH4

 

Japanese Yen – After the significant bullish move in USD/JPY, price starts to face some resistance at 104.12 key resistance level. Price has been struggling to pass through this resistance level in the last few days. If price fail to break above this 104.12 key resistance level, we could see price fall back to its 103.00 support level. However if price successfully break through this key resistance level, we could see price continue to move higher to the next resistance level at 104.83.

USDJPYrDaily

27th August 2014 Market Outlook

Swiss Franc Yen – CHF/JPY did not panned out as we would like to. Price just fell through the 113.46 support level today morning. Since price has broken this 113.46 support level, we are likely going to see price fall lower to the next support area at 112.99–112.80. Traders may as well consider selling short if price retrace back up to the 113.46 resistance level (Previous support level) to rejoin this bearish momentum.

CHFJPYrH4

 

Pound Yen – In GBP/JPY, price struggle to break through the 172.73–172.50 resistance area and is showing some rejection at this resistance area. The short term trend is bearish at the moment therefore traders may consider selling short at this resistance area. Price is likely to fall from here to the next support level at 170.68 if the 172.73–172.50 resistance area continues to hold price below it. However if price break above this resistance area, we could see price move higher from there.

GBPJPYrDaily

 

Kiwi Dollar – NZD/USD has been in a strong down trend since last month and has broken the 0.8420 key support level last week. Price is trying to have a little bounce from the recent low and if price successfully hit the 0.8420 key resistance level (Previous key support level), traders may consider selling short as the trend is still bearish. The next support level is not seen until 0.8259.

NZDUSDrDaily

26th August 2014 Market Outlook

Gold – Gold rise to its 1282.00 resistance level today morning as we expected in our 25th August 2014 Market Outlook. Price is currently trading at its 1282.00 resistance level which might once again reject this level and fall lower. Traders may consider selling at this 1282.00 resistance level once again if there’s sell signal. However if price break above this 1282.00 resistance level, we may see price continue to move higher to its next resistance level at 1295.50.

XAUUSDrH4

 

Swiss Franc Yen – In CHF/JPY, price rejected its 113.46 support level which might cause price bounce higher from here. The short term trend is bullish at the moment thus traders may consider go long at this 113.46 support level. If price bounce from this 113.46 support level, we may then likely going to see price once again retest its 114.00 resistance level.

CHFJPYrH4

 

Euro Loonie – EUR/CAD rejected the 1.441 support level with full force yesterday which shows the buyers are coming in. Traders may consider going long at this 1.441 support level. However, the overall trend is still bearish thus it will be a counter trend trade and traders who are interested to get long will need to take a more cautious step towards this trade. Conservative traders may wait for price rally to resistance levels before shorting to rejoin the bearish trend. There’s a minor resistance level at 1.4568 and key resistance level at 1.4733. If price is able to break through this 1.4568 resistance level, we may likely see price continue to move higher to the 1.4733 key resistance level.

EURCADrDaily

25th August 2014 Market Outlook

Gold – Gold fell lower after price rejected its 1282.00 resistance level as we expected in our 22nd August 2014 Market Outlook. Traders who have shorted as we recommended may consider taking profits at the 1272.00 support level. Price shows strong rejection off this 1272.00 support level this morning which might cause price bounce a little before continue to move lower. The overall trend is still bearish thus traders may consider looking for sell signals on rallies. If price broke this 1272.00 support level, we may then likely to see price continue to lose ground until the next support level at 1258.00.

XAUUSDrH4

 

Euro Dollar – EUR/USD continue to move lower as we expected in our 21st August 2014 Market Outlook. In fact, this week market opened with a gap down which might cause price to fill the gap before continues its bearish move. The significant drop in price in the last few days is caused by the break lower of the triangle pattern and the 1.3336 key support level that we discussed in our 19th August 2014 Market Outlook. Traders who have shorted as recommended may consider continue holding onto the short position if price continue to stay below this 1.3210 resistance level (Previous support level). The next key support level is not seen until 1.3100 thus traders who have missed on this short opportunity may consider selling on rallies especially on lower time frame to join this downtrend.

EURUSDrDaily

 

Japanese Yen – USD/JPY shot significantly higher after price broke its 103.02 key resistance level as we expected in our 20th August 2014 Market Outlook. Price also break through the 104.00 resistance level this morning as price gap up. We might see price fill the gap before continue to move higher and if price managed to stay above this 104.00 resistance level, we may then see price move higher to the next key resistance level at 104.83.

USDJPYrDaily

22nd August 2014 Market Outlook

Euro Aussie – EUR/AUD has been very kind to us recently as price move as we expected in all our 3 recent market outlooks which bagged us more than 300+ pips. After the break of the triangle pattern that we mentioned in our 15th August 2014 Market Outlook, price fell significant lower to our target 1.4271 support level. Next, price retrace back up to the 1.4332 resistance level and fell lower as we expected in our 20th August 2014 Market Outlook. Yesterday price once again fell lower from its 1.4332 resistance level as we expected in our 21st August 2014 Market Outlook. The bears are strong at this moment and have broke the 1.4271 support level. Traders who have shorted as we recommended may consider taking profits at the current price level. Traders who have missed all 3 short opportunities above may consider shorting if price retrace back up to the 1.4271 support level (Previous resistance level). Our next key support level is at 1.4210 which could give some room for price to fall before any bounce.

EURAUDrH4

 

Loonie Dollar – USD/CAD have strong rejection at the 1.0984 resistance level after it failed to break through it as we expected in our 21st August 2014 Market Outlook. We might see price fall lower from this 1.0984 resistance level to the 1.0875 support level after it fail to break through it. Traders may consider shorting this 1.0984 resistance level but the overall long term trend is still bullish thus this shorting here would be counter trend. For more conservative traders, waiting for a retrace back to the 1.0875 would provide a safer long entry.

USDCADrDaily

 

Gold – Gold has fell significantly lower this week. It has broken its 1282.00 support level which we could see more losses in the coming days. Traders may consider selling short at the 1282.00 resistance level (Previous support level) to join this bearish momentum. If price however break through this 1282.00 resistance level, traders may then look for another shorting opportunity at the 1295.00–1300.00 resistance level.

XAUUSDrH4

21st August 2014 Market Outlook

Euro Aussie – EUR/AUD fell lower as we expected in our 20th August 2014 Market Outlook after price rejected its 1.4332 resistance level. Traders who have shorted as recommended should have taken profits off the table at the 1.4271 support level. Price once again retest the 1.4332 resistance level this morning which may offer traders another short opportunity. However, traders who are intended to short at this 1.4332 resistance level again should take it cautiously as the trend is quite overextended and might due for a retracement as we discussed in our previous market outlook.

EURAUDrH4

 

Euro Dollar – EUR/USD has a significant drop yesterday as we expected in our 20th August 2014 Market Outlook after price break lower the triangle pattern and the 1.3336 key support level that we discussed in our 19th August 2014 Market Outlook. Traders who have shorted as recommended may consider continue holding onto the short position. There’s a support level at 1.3210 which traders need to be aware of but the next key support level is not seen until 1.3100. Traders who have missed on this short opportunity may consider selling on rallies especially on lower time frame to join this downtrend.

EURUSDrDaily

 

Loonie Dollar – USD/CAD moved higher after price rejected the 1.0875 support level. Price is currently trading at the 1.0984 resistance level which is the key level to decide where the Loonie will head next. If price breaks this 1.0984 resistance level, we are likely going to see price continue to move higher to its next resistance level at 1.1053. However if price rejected this 1.0984 resistance level, we might see price fall lower and might retest the 1.0875 support level again.

USDCADrDaily

20th August 2014 Market Outlook

Euro Aussie – EUR/AUD continue to move lower and hit the 1.4271 target (support level) as we expected in our 15th August 2014 Market Outlook after price break the triangle that we have mentioned in our 12th August 2014 Market Outlook. We have had 150+ pips fall in this trade and traders that have went short at the break of this triangle as we recommended should have took their profits at the 1.4271 support level to avoid giving back the profits. 1.4332 resistance level may offer traders that have missed the earlier short trade to sell short. However, traders who are interested to sell short at this resistance level should take it cautiously as the trend is quite overextended and might due for a retracement before continue lower.

EURAUDrH4

 

Euro Dollar – EUR/USD break lower the triangle pattern and the 1.3336 key support level with no surprise as we have long term bearish trend with us as we discussed in our 19th August 2014 Market Outlook. Traders who have shorted as recommended will need to take note on the FOMC minutes that we have later at 1800 GMT which might cause the market to move back higher and leave us with a false break. However, traders who have not yet short may consider selling short if price retrace back up to the 1.3336 key resistance level (Previous key support level).

EURUSDrDaily

 

Japanese Yen – USD/JPY have finally broke its 103.02 key resistance level this morning. If price close above this key resistance level decisively, we may then likely going to see price continue to move higher to the next key resistance at 104.00. If price happens to close above that key resistance level, traders may then look for buy signals on dips to join this bullish momentum. However if price close back below this 103.02 key resistance level leaving a false break at this key resistance level, we may likely going to see price move lower from here.

USDJPYrDaily

19th August 2014 Market Outlook

Euro Dollar – EUR/USD is forming a triangle pattern on its daily time frame chart at the 1.3336 key support level. Euro might continue to stay quiet until the upcoming FOMC minutes. Traders may keep an eye on this market and watch for breakout trade. Given that the overall trend is still bearish, we might see price breaks lower this triangle pattern as well as the 1.3336 support level. However if price breaks above this triangle, price will need to break the 1.3438 resistance as well before we see any significant bullish move.

EURUSDrDaily

 

Gold – Gold continue to consolidate without any significant move recently. We have FOMC minutes tomorrow which is likely going to pick up the volatility of the sleepy gold market. Price seems to reject its 1295.50 support level yesterday and has been moving higher this morning. We might see price retrace back up to its 1305.00 resistance level before falling lower. If price hit the 1305.00 resistance level, traders may then consider selling short at this resistance level. Price could fall from the 1305.00 resistance level back to the 1295.50 support level if the resistance level continues to hold.

XAUUSDrH4

 

Silver – On the other hand, silver continue to edge lower and the smooth bearish trend remain intact. Price is currently approaching its 19.77 resistance level and if price shows rejections at this resistance level, traders may consider going short at this resistance level. The next key support level is not seen until 18.70 which provide wide profit margin for traders to sell short.

XAGUSDrDaily

18th August 2014 Market Outlook

Euro Swiss – EUR/CHF has been falling steadily in the last 2 months after it breaks its weekly triangle pattern as we expected in 6th June 2014 Market Outlook. Last week price broke below its 1.2120 key support level which open the door for more losses in the coming weeks. Traders who have went short as we recommended could continue holding the short position while trailing the stop to protect the profits from giving back to the market. The next key support level is not seen until 1.2030 and traders who have missed the short opportunity could enter short again if price retrace back up to the 1.2120 resistance level (Previous support level).

EURCHFrWeekly

 

Euro Pound – EUR/GBP is approaching its 0.7996—0.7980 support area. Given that the trend is bullish, traders may watch for buy signal near this support area to join this bullish trend. However, there’s a big round number/psychological level at 0.8000 sitting above this 0.7996—0.7980 support area which could potentially act as a support to hold price up. If price shows rejection at this 0.8000 big round number/psychological level, traders may as well consider getting long at this price level.

EURGBPrH4

 

Swiss Franc Yen – In CHF/JPY, price once again retest the 113.46 resistance level and shows rejection at this resistance level. Traders may consider selling short at this resistance level as the overall long term trend is still bearish. If price could not break above this 113.46 resistance level, we may then likely going to see price fall lower from here to its next support level at 112.24.

CHFJPYrDaily