28th November 2014 Market Outlook

Kiwi Dollar – NZD/USD fell lower after price rejected the 0.7978–0.8058 resistance area as we expected in our 17th November 2014 Market Outlook. Traders who have went short at the 0.7978–0.8058 resistance area as we recommended may consider holding onto the short position as price is likely going to continue to move lower although it’s moving in a slower pace. Since the overall trend remains bearish, it’s likely going to retest its 0.7708 support level in the near term. Traders who have missed the short trade may short on rally or at resistance level to ride this bearish trend.

NZDUSDrDaily

 

Pound Dollar – GBP/USD reverse before price actually hit the 1.5890 key resistance level that we mentioned in our 27th November 2014 Market Outlook. However price did hit a minor resistance level at 1.5790 before reverse its bullish momentum. Now we have a key resistance area of 1.5890–1.5790 where traders may look for sell signals to ride this bearish trend. The bearish trend is likely going to resume from here and traders may consider shorting this currency pair to ride this bearish trend.

GBPUSDrDaily

 

Gold – Gold remain stuck at the 1184.00 price level. Price just stall at this key level without any clear sign of direction but if it breaks out either side of the yellow box marked on the chart, we may then probably going to have clear trend established from here. Traders may consider buying/selling at the break above/below this yellow box. Gold closed lower in the last trading days coupled with the overall bearish trend, price is likely going to break below this yellow box and resume its bearish trend.

XAUUSDrDaily

27th November 2014 Market Outlook

Pound Dollar – GBP/USD is approaching its 1.5890 key resistance level. If price rejects this 1.5890 key resistance level, traders may consider selling short as the trend is still bearish. There isn’t any sign of reversal for GBP/USD yet thus traders may still look for sell signals to rejoin the bearish trend. However if price breaks above the 1.5890 key resistance level, that could be the first sign for a reversal coming in.

GBPUSDrDaily

 

Pound Loonie – GBP/CAD shot higher after price hit the very key support level at 1.7535. The overall trend is up but the short term momentum is very bearish at the moment. Traders may consider selling short if there’s sell signals at the 1.7874–1.7811 key resistance area. Price is likely going to resume its bearish momentum from the 1.7874–1.7811 key resistance area but a close above the key resistance area could drive price higher to its next key resistance level at 1.8260.

GBPCADrDaily

 

Aussie Swiss Franc – AUD/CHF rejected the 0.8210–0.8125 support area this morning. Given that AUD/CHF is still trading within the range, traders may consider buying the 0.8210–0.8125 support area but need to be handled with more care because this support area is under pressure after price printed lower high and lower low on the chart. If price close below the 0.8210–0.8125 support area decisively, traders may also consider selling short to ride the breakout of this trading range.

AUDCHFrDaily

26th November 2014 Market Outlook

Aussie Swiss Franc – AUD/CHF once again hit its 0.8210–0.8125 support area after price fell off from its 0.8470 resistance level. This market has been in this trading range for quite some time now and has respected the 0.8470 resistance level and the 0.8210–0.8125 support area in the last few swings as we expected in our last few market outlook on this market. Since the market is still trading within the range, traders may consider buying at the 0.8210–0.8125 support area if there’s buy signal while if price breaks below the 0.8210–0.8125 support area, we may then likely going to see price falls lower in the coming weeks.

AUDCHFrDaily

 

Pound Aussie – GBP/AUD has been making higher high and higher low in the last few trading days. The overall trend is still bullish and the short term momentum has turned into bullish. Traders may consider buying when price pullback to the 1.8268 support level to rejoin the bullish trend. Price is likely to resume its bullish trend and the next key resistance level is not seen until 1.8662.

GBPAUDrH4

 

Aussie Loonie – Yesterday AUD/CAD finally broke out the huge and messy consolidation but met its first support level at 0.9590. Aggressive traders may consider taking a long trade at this 0.9590 support level as price is likely going to retrace back up to its 0.9707 key resistance level while a more conservative approach would be shorting at the 0.9707 key resistance level to rejoin the fresh bearish trend.

AUDCADrDaily

25th November 2014 Market Outlook

Euro Dollar – EUR/USD rejected the 1.2444 resistance level earlier today. Given that the overall trend is still bearish, traders may consider shorting this resistance level to rejoin the bearish trend. Price is likely going to falls back to its support level at 1.2360. However if price breaks above the 1.2444 resistance level, we may then probably going to see price retest its 1.2610 key resistance level.

EURUSDrH4

 

Euro Loonie – Last week price broke the 1.4052 key support level in EUR/CAD. The 1.4052 key support level has now turned into key resistance level and given that the overall trend is still bearish, traders may short at this key resistance level. If price falls off from here, price is then likely going to retest its 1.3878 key support level.

EURCADrDaily

 

Euro Swiss Franc – EUR/CHF continue to move lower after the break of the consolidation as we expected in our 27th October 2014 Market Outlook. Price retrace back up to the 1.2030 resistance level after price nearly hit the 1.2000 key support level. Traders may consider selling short at this 1.2030 resistance level if there’s sell signal as the trend is still bearish. However if price breaks above the 1.2030 resistance level, we may then see price move back up to its 1.2055 resistance level again.

EURCHFrDaily

24th November 2014 Market Outlook

Aussie Swiss Franc – AUD/CHF shot significantly higher as we expected in our 21st November 2014 Market Outlook. Price hit the 0.8210–0.8125 support area and took off without looking back. AUD/CHF is still trading within the range of 0.8210–0.8125 support area and 0.8470 resistance level. If price shows rejection off this 0.8470 resistance level, traders may consider selling short as price is likely to resume its trading range if it fails to breaks above the resistance level. However if price breaks above this 0.8470 resistance level, AUD/CHF is then likely going to have some big breakout and traders may consider buying at the breakout to catch the move.

AUDCHFrDaily

 

Swiss Franc – USD/CHF shot significantly higher after the rejection off the 0.9559 support level as we expected in our 20th November 2014 Market Outlook. Traders who have bought the 0.9559 support level may consider taking profits or scale out the position at current price level or at the 0.9736 resistance level. Traders who have missed the earlier long trade may consider buying on dips to rejoin this bullish momentum. We are likely going to see price continue its bullish move at least until it retest its 0.9736 resistance level.

USDCHFrH4

 

Euro Yen – EUR/JPY continue its bulish move after price rejected the 142.23 short term support level as we expected in our 11th November 2014 Market Outlook which offer traders to rejoin this strong bullish trend. Traders who have went long at the 142.23 support level as we recommended and those who have went long after price broke the 136.87 resistance level and 137.94 resistance level as we recommended in our 24th October 2014 Market Outlook and 29th October 2014 Market Outlook may consider continue holding onto the long positions while trailing the stops as this bullish trend is likely going to resume.

EURJPYrH4

21st November 2014 Market Outlook

Aussie Swiss Franc – AUD/CHF fell lower to its 0.8210–0.8125 support area as we expected in our 5th November 2014 Market Outlook after price rejected the 0.8470 resistance level. Price is still trading within the range of 0.8210–0.8125 support area and 0.8470 resistance level. Traders who have went short at the 0.8470 resistance level as we recommended may consider taking profits at the 0.8210–0.8125 support area. If price rejected the 0.8210–0.8125 support area, traders may consider looking for buy signal to continue to play this range. However if price breaks below this support area, price is then likely to continue its bearish move in the coming weeks.

AUDCHFrDaily

 

Pound Yen – GBP/JPY pullback to its 184.34 support level after price broke above the previous resistance level. Given that the overall trend is still very bullish at the moment coupled with price rejects the 184.34 support level earlier today, traders may consider buying at this support level to rejoin the bullish trend. Price is likely going to resume its bullish trend until the next key resistance level at 197.00.

GBPJPYrH4

 

Pound Kiwi – Yesterday GBP/NZD rejected the very key resistance level at 2.0000 which is also a very big round number or psychological level. Although the rejection isn’t huge, it could still push price down given that the recent momentum is bearish. Traders may consider selling short at this key resistance level to rejoin the bearish momentum. Price is likely going to move lower in the coming days and even retest its 1.9400 key support level offering a 600 pips profit margin.

GBPNZDrH4

20th November 2014 Market Outlook

Gold – Yesterday we expect gold to remain above the 1184.00 key resistance level with the possibility of moving higher but price fell back below the 1184.00 key resistance level leaving a false break at 1184.00 key resistance level. Given that the overall trend is still very bearish, traders may consider selling short at this 1184.00 key resistance level to rejoin the bearish trend. Gold is likely going to resume its bearish trend if it stays below the 1184.00 key resistance level.

XAUUSDrDaily

 

Swiss Franc – Yesterday USD/CHF retest its 0.9559 support level again and rejected it with full force leaving a strong rejection bar at the 0.9559 support level after the FOMC meeting. Given that the trend is still bullish overall, traders may consider buying at this support level to rejoin the bullish trend. Price may resume its bullish trend from here but if price breaks below this 0.9559 support level, price is then likely going to move lower to its next support level at 0.9479.

USDCHFrH4

 

Loonie Dollar – USD/CAD is approaching the 1.1383 key resistance level again. Although the long term trend is still bullish, this key resistance level may once again push price back down to its previous low. Traders may consider selling short if there’s sell signal at the 1.1383 key resistance level. However if price breaks above this 1.1383 key resistance level, price is then likely going to retest the 1.1466–1.1447 resistance level area and resume its bullish trend.USDCADrH4

 

19th November 2014 Market Outlook

Euro Kiwi – EUR/NZD hit its 1.5902 resistance level this morning after bouncing off its 1.5720 support level. The momentum is still bearish at the moment therefore traders may consider selling short if there’s rejection off this resistance level. If price rejects this resistance level and move lower, we are likely going to see price retest its 1.5720 support level and might even retest its next key support level at 1.5547. However if price did not stop its rally at this 1.5902 resistance level but continue to move higher, we may then see price rally higher to its next resistance level at 1.6272.

EURNZDrDaily

 

Aussie Kiwi – Yesterday AUD/NZD rejects its 1.0974–1.0923 support area with full force leaving a strong rejection bar off this support area. The market is currently moving sideway and this strong rejection off the support area may cause AUD/NZD to remain within its sideway movement. It might cause price to retest its 1.1278 resistance level again as well. On the other hand, if price falls through the 1.0974–1.0923 support area, price is then likely to continue its bearish move to the next key support level at 1.0650.

AUDNZDrDaily

 

Gold – Gold broke the 1184.00 key resistance level and continue to remain above it for the last 3 trading days. This could probably be the temporary bottom for gold after a long bearish trend. We may see price continue its bullish momentum in the next few days or even weeks until its next key resistance at 1245.00 is reached. Traders may consider buying when price dips or buy on support level on lower time frame to ride this bullish momentum. This will be a counter trend trade against the long term bearish trend thus traders who intent to go long in the Gold market will need to take more cautious steps towards long positions.

XAUUSDrDaily

18th November 2014 Market Outlook

Loonie Yen – CAD/JPY continue to move higher as we expected in our 12th November 2014 Market Outlook. The rally in CAD/JPY is very significant and had produces a lot of trading opportunities. Traders who have went long since the 95.77 support level and the 99.66 support level as we recommended in our 4th November 2014 Market Outlook and 28th October 2014 Market Outlook may consider continue holding onto the long position while trailing the stops to protect the profits. This rally had produced around 800 pips in a single run and traders who have missed the long trades may consider buying on dips or support level to rejoin this strong bullish trend. We are likely going to see this strong bullish trend to resume in the coming days.

CADJPYrH4

 

Aussie Kiwi – AUD/NZD fell significantly lower after rejecting its 1.1278 resistance level as we expected in our 27th October 2014 Market Outlook. Price has dropped to its 1.0974 support level and traders who have went short as we recommended may consider taking profits at this 1.0974 support level or at least scale out the position. If price rejects this 1.0974 support level, traders may then look for buy signals to go long while a break below the 1.0974 support level will likely cause price to rotate lower to its next support level at 1.0923.

AUDNZDrDaily

 

Pound Aussie – GBP/AUD has hit the 1.7855 support level after price broke the 1.8109 key support level. The momentum is bearish at the moment, traders may consider selling short if price rally back up to the 1.8109 key resistance level (Previous key support level) to join this bearish momentum. We are likely going to see price continue its bearish move and could potentially breaks the 1.7855 support level. If price breaks the 1.7855 support level without retrace back up to resistance level, we may then likely going to see price retest its next key support level at 1.7260.

GBPAUDrH4

17th November 2014 Market Outlook

Kiwi Dollar – NZD/USD continue its bullish move to its 0.7978–0.8058 resistance area as we expected in our 13th November 2014 Market Outlook after price rejected its 0.7708 key support level that we discussed in our 10th November 2014 Market Outlook. Traders who have went long at the key support level as we recommended may consider taking profits at this 0.7978–0.8058 resistance area as this is a counter trend trade. If price rejects this 0.7978–0.8058 resistance area, traders may consider selling short at this resistance area to rejoin the overall bearish trend.

NZDUSDrDaily

 

Swiss Franc – USD/CHF rejected its 0.9559 support level this morning. Given the overall trend is still bullish, traders may consider buying at this 0.9559 support level to rejoin the bullish trend. If price remains above this support level, we may then likely going to see price resume its bullish trend and might retest its recent high in the near future. However if price breaks below this 0.9559 support level, we could see price travel lower to its next support level at 0.9479.

USDCHFrH4

 

Japanese Yen – USD/JPY fell lower this morning to its 115.52 support level. The long term bullish trend is still intact therefore traders may consider buying at this support level to rejoin this bullish trend. We are likely going to see USD/JPY resume its trend but if price breaks below this 115.52 support level, we may then likely going to see price falls to its next support level at 114.00.

USDJPYrH4