31st October 2014 Market Outlook

Loonie Yen – CAD/JPY shot significant higher and broke through multiple resistance levels like a hot knife through butter. This strong bullish momentum was started by price rejecting the 95.77 support level as we expected in our 28th October 2014 Market Outlook. Price is now trading around the 98.71 resistance level and it looks like going to continue to move higher to its next key resistance level at 99.66. The recent momentum is obviously very bullish therefore we are likely going to see price continue to move higher and traders who have went long from the 95.77 support level as we recommended would have made around 300 pips in this trade and may consider holding onto this long position as it is likely going to continue to move higher until the 99.66 key resistance level.

CADJPYrH4

 

Gold – Gold fell significant lower after price broke below the up trend line as we expected in our 24th October 2014 Market Outlook. Price is now approaching the 1184.00 key support level and traders who have shorted as we recommended may consider taking profits or at least scale out the position at this very key support level as price might bounce from here. If price breaks below this 1184.00 key support level, we are likely going to see more losses in gold market in the near future.

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Aussie Swiss Franc – AUD/CHF continue to trade within the 0.8210–0.8125 support area and 0.8470 resistance level. This market condition might continue for quite some time until either the 0.8470 resistance level or the 0.8210–0.8125 support area is broken. At the moment price is trading at the 0.8470 resistance level where traders may consider taking a short trade if there is sell signal around this level. If price rejected this 0.8470 resistance level, we are likely going to see price falls back to the 0.8210–0.8125 support area.

AUDCHFrDaily

30th October 2014 Market Outlook

Loonie Yen – CAD/JPY continue to moved higher after price rejected the 95.77 support level and broke through the 96.73 resistance level as we expected in our 29th October 2014 Market Outlook and 28th October 2014 Market Outlook. Traders who have went long at the 95.77 support level as we recommended may consider scale out the position at current price level and also trailing the stop to protect the profits that are made so far. There’s a resistance level sitting above current price at 97.48 and if price is able to break through this 97.48 resistance level, we might then see price continue to move higher to its next resistance level at 97.81 and might even break through it.

CADJPYrH4

 

Aussie Dollar – AUD/USD failed to break through the 0.8900 resistance level and had rejected this resistance level. This strong rejection may send price lower and might retest the 0.8652 support level again. Traders who have shorted as we recommended may continue holding onto this short position as it might continue to move lower. Price is likely to remain within this consolidation until next week therefore traders may consider to play this range out until it’s broken. Shorts will be safer as the overall trend is still bearish.

AUDUSDrDaily

 

Euro Dollar – EUR/USD retrace back up to its 1.2735 resistance level then fell back to the 1.2610 support level as we expected in our 24th October 2014 Market Outlook. Although price did went slightly above this 1.2735 resistance level, the bears did managed to drive Euro all the way down to the 1.2610 support level. The strong sell-off we have yesterday have broke the 1.2610 support level and if price remains below this support level, we may then likely going to see price falls lower to its next support level at 1.2502. Traders who have went short at the 1.2735 resistance level as we recommended may consider to take partial profits out from the market while leaving the rest to run further with trailing stop to protects the profits gained so far. Given that the overall long term trend is still bearish, we are likely going to see price continue its bearish movement and traders who have missed the earlier short trade may consider selling on rallies or resistance level to ride this bearish momentum.

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29th October 2014 Market Outlook

Loonie Yen – CAD/JPY shot higher after rejecting the 95.77 support level as we expected in our 28th October 2014 Market Outlook. Price even broke through the 96.73 resistance level which isn’t a surprise as the recent momentum is in favor to the bulls. Traders who have went long as we recommended may consider taking partial profits at current price level while leaving the rest to run further with trailing stop to protect the profits. We are likely going to see price continue its bullish move to the next resistance level at 97.48 and traders who have missed the earlier long trade may consider buy on dips or support level to ride this bullish momentum.

CADJPYrH4

 

Euro Yen – EUR/JPY shot higher after price broke the 136.87 resistance level as we expected in our 24th October 2014 Market Outlook. Price is currently trading just below the 137.94 resistance level and if price is able to breaks through this resistance level, we are likely going to see price continue its bullish move. However if price fails to breakthrough this resistance level but rejected it, we may then see price pullback to the 136.87 support level (Previous resistance level) which might offer another opportunity for traders to get long in this market. Traders who have went long as we recommended may consider taking profits or scale out the position as price is currently trading just below the 136.87 resistance level.

EURJPYrH4

 

Aussie Dollar – AUD/USD continue to consolidate within the 0.8900 resistance level and the 0.8652 support level. Yesterday price moved up to the edge of this consolidation which might either breaks above this consolidation or retrace back into the consolidation again. If price breaks above the 0.8900 resistance level, we might then see price move higher in the coming weeks while if price remains below this resistance level, we might then see this consolidation to resume. Traders may consider selling at this 0.8900 resistance level if there’s a sell signal at this resistance level or buy at the breakout of this consolidation.

AUDUSDrDaily

28th October 2014 Market Outlook

Loonie Yen – CAD/JPY is currently trading at the 95.77 short term support level. There’s a small rejection off this support level and given that the recent momentum is bullish, traders may consider buying at this support level but need to be cautious with it as this isn’t a key support level. Price is likely going to continue its bullish move until the next resistance level at 96.73. Price may even break through this resistance level if the bullish momentum remains strong when price approach it.

CADJPYrH4

 

Swiss Franc – USD/CHF starts to gain strength after price rejected the 0.9479 support level. Traders may consider buying this market as price is likely going to continue its bullish move and since the overall trend is still bullish, this 0.9479 support level is likely going to hold and push price higher. However if this support level fail to push price higher, we may then see price falls through this support level to the next support level at 0.9400.

USDCHFrH4

 

Aussie Yen – AUD/JPY did not move lower after price rejected the 94.38 resistance level but broke through this 94.38 resistance level in a strong fashion. The recent momentum had turned to bullish after the 94.38 resistance level is broken. Given that the recent momentum is bullish, traders may consider waiting for a pullback to the 94.38 support level (Previous resistance level) before buying into this market as it will offer a safer entry.

AUDJPYrDaily

27th October 2014 Market Outlook

Kiwi Dollar – NZD/USD fell through its 0.7897 minor support level in strong fashion which turn this minor support level to a meaningful resistance level that worth to short. Given that the overall trend is still bearish, this could be a good shorting opportunities for traders. Traders may consider selling short at this 0.7897 resistance level (Previous support level) or wait for sell signal to shows up here for confirmation before shorting. We are likely going to see price falls to its 0.7794 support level in the near term.

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Aussie Kiwi – AUD/NZD is currently trading within a wide trading range. The 1.1278 resistance level and 1.10974 support level will be the key levels for this trading range. Until price break through either side of this range, traders may consider buying at the lower end of this range and sell short at the higher end of this range. At the moment price is moving towards the 1.1278 resistance level, traders may consider selling short if there’s sell signal at this resistance level with a stop above the high of this trading range.

AUDNZDrDaily

 

Euro Swiss Franc – EUR/CHF has been consolidating above the 1.2055 support level. This key support level will decide which direction the market will head in the coming weeks. If price is able to break this 1.2055 support level decisively, we may then likely going to see price falls further to the 1.2000 support level. However if price breaks above this consolidation, we may then see price move higher from here. Traders may consider buying or selling at the break of the consolidation or support level as we might going to see strong price movement upon breakout.

EURCHFrDaily

24th October 2014 Market Outlook

Gold – Gold fell lower after price broke below the up trend line as we expected in our 22nd October 2014 Market Outlook. Trades who have shorted as we recommended may consider holding onto the short position while trailing the stop to avoid giving back the profits. Price is likely continue to fall lower and may retest the 1184.00 support level again.

XAUUSDrH4

 

Euro Yen – EUR/JPY is currently trading below the 136.87 resistance level. If price is able to break through this resistance level, we may then likely going to see price continue this bullish move to the next resistance level at 137.94 and even break it. Traders may consider buy at the break of this resistance level to ride this short term bullish move. However if price couldn’t break through this 136.87 resistance level, we may then see price falls back lower to the previous low at 134.20.

EURJPYrH4

 

Euro Dollar – EUR/USD is currently trading above the 1.2610 support level. Price is ranging currently but the overall trend is bearish. Given that the overall bearish trend, traders may consider waiting for price to retrace back up to the 1.2730 resistance level before shorting. If price rejects the 1.2730 resistance level, we may then likely going to see price falls back to the 1.2610 support level in the near term.

EURUSDrH4

23rd October 2014 Market Outlook

Euro Kiwi – EUR/NZD hit the 1.5900 and rejected the support level strongly indicating bulls are getting into this market. Given that the recent momentum is bullish, traders may consider going long at this 1.5900 support level to rejoin this bullish momentum. With this strong rejection off the 1.5900 support level, we are likely going to see price continue to move higher in the coming days.

EURNZDrDaily

 

Aussie Swiss Franc – AUD/CHF shot higher after rejecting the 0.8210–0.8125 support area and is approaching the 0.8470 resistance level. We are likely going to see price continue to move within these support and resistance level for quite some time therefore traders may consider selling at the 0.8470 resistance level if there’s sell signal at this resistance level. However if price breaks through this 0.8470 resistance level, we may see price moves higher and even retest the previous high at 0.8700.

AUDCHFrDaily

 

Aussie Yen – Yesterday AUD/JPY rejected the 94.38 resistance level and given that the trend is bearish, traders may consider selling at this 94.38 resistance level until the next support level at 93.01. However if price couldn’t move lower but break above this 94.38 resistance level, we may then likely going to see price move higher in the coming weeks as there isn’t any significant resistance levels to the upside.

AUDJPYrDaily

22nd October 2014 Market Outlook

Kiwi Yen – Once again NZD/JPY is approaching its 85.85 key resistance level after price rejected its 84.00 support level. Given that the trend is still bearish, traders may consider selling short when price hit this 85.85 key resistance level. If price fell after rejecting the 85.85 key resistance level, we may then likely going to see price breaks the 84.00 support level and even retest the 81.40 support level in the near future.

NZDJPYrDaily

 

Gold – Gold stall at the 1245.00 resistance area after a strong rally we have in the last 2 weeks and the market is currently deciding which way the market will head. If price continue to breaks above the previous high, we could see price move higher to its 1270.00 resistance level. However if price breaks the up trend line, price might dive lower and could retest the 1184.00 support level again.

XAUUSDrH4

 

Aussie Dollar – AUD/USD has been consolidating above the 0.8652 key support level in the last few weeks. There isn’t much activity within this tight consolidation but aggressive traders may still consider selling the top and buying the bottom in the lower time frame charts. For conservative traders, it’s much safer to wait for price to either break above or below this tight consolidation to get a clearer view of the market direction.

AUDUSDrDaily

21st October 2014 Market Outlook

Japanese Yen – USD/JPY fell lower after price hit the 107.37 resistance level as we expected in our 20th October 2014 Market Outlook. Price is likely going to continue its bearish movement and could once again retest its 105.44 key support level. Traders who have shorted as we recommended may consider holding onto this short position while trailing the stop to avoid giving back the profits to the market. On the other hand, traders who have missed the short trade may still consider selling short on rallies or resistance to rejoin this bearish momentum.

USDJPYrH4

 

Euro Dollar – Yesterday EUR/USD rejected the 1.2730 support level and is moving higher after that rejection. The overall trend of this market is still bearish but the recent momentum is bullish. Traders may consider buying on dips to rejoin this bullish momentum until the 1.2884 resistance level. If price breaks above the 1.2884 resistance level, we may then likely going to see more gains in Euro. However if price breaks below this 1.2730 support level, the long term bearish trend could resume from here and create another leg to the downside.

EURUSDrH4

 

Loonie Swiss Franc – CAD/CHF fell lower after price rejected the 0.8408 resistance level. Price is currently heading to the 0.8324 support level and given that the recent momentum is strongly in favor to the bears, traders may consider selling short on rallies or resistance to rejoin this strong bearish momentum. If price breaks below the 0.8324 support level, we may then see price continue to drop further to its 0.8235 support level. However if price rejected the 0.8301 support level, price may retrace back up to the 0.8408 resistance level.

CADCHFrDaily

20th October 2014 Market Outlook

Japanese Yen – USD/JPY shot higher after it hit the 105.44 key support level as we expected in our 16th October 2014 Market Outlook. Price is currently trading just below the 107.39 resistance level and if there’s sell signal at this resistance level, traders may consider selling short. The 108.00 resistance level above the 107.39 resistance may provide a safer entry for short sellers. The long term trend is still bullish though therefore traders who are considering shorting this market may need to take a more cautious step towards this market.

USDJPYrH4

 

Swiss Franc Yen – Last Thursday CHF/JPY rejected its 111.87 support level with full force. This market is currently moving sideway therefore traders may consider going long at this 111.87 support level. We are likely going to see price move higher whilst price remain above this 111.87 support level. However if price breaks below this 111.87 support level, we may then likely going to see more losses in CHF/JPY.

CHFJPYrDaily

 

Kiwi Dollar – NZD/USD short term momentum is heading north after price hit the 0.7733 key support level. Given that the recent momentum is bullish, traders may consider buying on dips or support level to join this bullish momentum. Price also rejected the 0.7897 minor support level recently therefore we are likely going to see price to move higher in the near term.

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