31st March 2015 Market Outlook

Aussie Yen – AUD/JPY fell lower into its 91.74–91.20 support area after price performed a false breakout at 94.21 resistance level as we expected in our 26th March 2015 Market Outlook. Traders who have went short as we recommended may consider taking partial profits at this 91.74–91.20 support area while leaving the rest to run further. If price breaks the 91.74–91.20 support area, we are then likely going to see price continue to move lower into its 89.33 support level in the coming days.

AUDJPYrDaily

 

Japanese Yen – USD/JPY bounce off 118.33 support level as we expected in our 27th March 2015 Market Outlook. Traders who have went long as we recommended may consider continue holding onto the long position or move the stops to breakeven. As long as price remains above the 118.33 support level, we are then likely going to see price retest its 121.92 resistance level in the near term.

USDJPYrDaily

 

Kiwi Dollar – NZD/USD failed to break through its 0.7620–0.7568 resistance area leaving a false break at the resistance area. Given that the overall trend is still bearish, traders may consider selling at this resistance area. The next support level is not found until 0.7180 which offer traders huge profit margin to sell short.

NZDUSDrDaily

30th March 2015 Market Outlook

Aussie Dollar – AUD/USD continue to move lower after price rejected the 0.7892 resistance level as we expected in our 25th March 2015 Market Outlook. Traders who have went short at the 0.7892 resistance level as we recommended may consider moving stop loss to breakeven while leaving the position to run further. Price is likely going to retest its 0.7565 support level in the coming days as the overall trend is still bearish.

AUDUSDrDaily

 

Pound Loonie – GBP/CAD performed a strong rejection at the 1.8666–1.8577 support area. Given that the overall trend is still bullish, traders may consider buying into this market. The next resistance level is not found until 1.9541 which is around 850pips away from current price. That wide range offer traders a huge profit margin to trade the long side. If price successfully bounce at this 1.8666–1.8577 support area, we are then likely going to see price rally higher in the coming weeks.

GBPCADrDaily

 

Silver – Last week silver performed a rejection at its 17.74–17.40 resistance area. Given that the long term trend remains bearish, traders may consider shorting this silver market. However there’s a support level below current price at 16.78. Price need to breaks below this support level before continue to move lower thus traders may consider selling at the breakdown of this 16.78 support level. We are likely going to see price continue to move lower until its next support level at 15.28.

XAGUSDrDaily

27th March 2015 Market Outlook

Japanese Yen – USD/JPY rejected its 118.33 support level yesterday. USD/JPY is moving sideway over the short term but over the longer term, the trend is still bullish thus traders may consider buying into this rejection. Price is likely going to retest its 121.92 resistance level in the coming days. However if price falls through the 118.33 support level, we are then likely going to see price decline lower into its next support level at 115.90.

USDJPYrDaily

 

Euro Pound – EUR/GBP performed a rejection near its 0.7401 resistance level. Given that the overall trend is still bearish, traders may consider selling short with a stop above the resistance level. Conservative traders may wait for price to touch and rejects the 0.7401 resistance level before shorting for confirmation and tighter stop loss. As long as price remains below the 0.7401 resistance level, we are then likely going to see price continue to move lower in the coming weeks.

EURGBPrDaily

 

Aussie Loonie – AUD/CAD failed to breakout away from its consolidation after multiple attempts. Since price has snaps back to its trading range/consolidation, traders may consider shorting at the higher end of this consolidation and targeting the lower end of the consolidation which is 0.9591 support level. We are likely going to see price remains within this consolidation in the next few days or even weeks until price is able to breakout away from this consolidation.

AUDCADrDaily

26th March 2015 Market Outlook

Euro Loonie – EUR/CAD one again rally into its 1.3802–1.3749 resistance area. Given that the overall market is still bearish, traders may consider selling short at this resistance area. Conservative traders may wait for a rejection or confirmation at this 1.3802–1.3749 resistance area before shorting to increase the probability of the trade. On the other hand, a break above the 1.3802–1.3749 resistance area will push price even higher to its 1.4075 resistance level.

EURCADrH4

 

Euro Pound – Finally we are seeing a meaningful pullback in EUR/GBP. It has been in a down trend in the last 20 months will little to no pullbacks along the way. Price is now approaching its 0.7401 resistance level and if price perform a rejection at this resistance level, traders may then consider selling short at this resistance level to rejoin the long term bearish trend.

EURGBPrDaily

 

Aussie Yen – AUD/JPY performed a false breakout at 94.21 resistance level. Price broke through the 94.21 resistance level but quickly snaps back below the resistance level. Since the momentum is still bearish at the moment, traders may consider shorting this market. Price is likely going to retest its 91.74–91.20 support area in the near term and if price falls through this 91.74–91.20 support area, price is then likely going to retest its 89.33 support level in the coming days.

AUDJPYrDaily

25th March 2015 Market Outlook

Aussie Dollar – Yesterday AUD/USD performed a strong rejection at the 0.7892 resistance level. Given that the overall trend is still bearish, traders may consider shorting at this resistance level or wait for price to breaks yesterday candle low before shorting for confirmation. We are likely going to see price continue to move lower in the coming days as long as price do not breaks through the 0.7892 resistance level. The next support level is not found until 0.7565 which offer traders great profit margin to sell short.

AUDUSDrDaily

 

Gold – Gold retrace back up to its 1195.57–1191.17 resistance area yesterday. Since the overall trend is still bearish, we are likely going to see price decline lower if the resistance area holds price below it. Traders may wait for a rejection to form at this 1195.57–1191.17 resistance area or wait for a confirmation before going short to increase the probability of the trade. If price falls off from this 1195.57–1191.17 resistance area, we are then likely going to see price retest its 1143.06 support level in the coming days.

XAUUSDrDaily

 

Aussie Loonie – AUD/CAD is currently trading at the higher end of the consolidation. A break above the consolidation will trigger lots of buyers to enter into this market therefore traders may consider buying at the breakout of this consolidation or may as well wait for a pullback after the breakout for safer entry. On the other hand, if price couldn’t breakout away from this consolidation, price is then likely going to remains within its consolidation in the coming weeks.

AUDCADrDaily

24th March 2015 Market Outlook

Euro Dollar – EUR/USD is approaching its 1.1112 resistance level. Given that the long term trend is still bearish, traders may consider selling short if price performs a rejection at this 1.1112 resistance level to join this bearish trend. If price indeed rejects the 1.1112 resistance level, we are then likely going to see price retest its 1.0466 support level in the coming days.

EURUSDrDaily

 

Pound Aussie – GBP/AUD broke its 1.9252 support level and is declining lower. The overall trend is still bullish but the shorter term momentum is bearish. Aggressive traders may consider shorting this market into the next support level at 1.8781 while conservative traders may wait for price to pullback to 1.8781 support level before going long to rejoin the long term bullish trend.

GBPAUDrDaily

 

Aussie Dollar – AUD/USD is currently trading at the 0.7892 resistance level. Traders may consider selling short at this resistance level as the overall trend is still bearish and the next support level is not found until 0.7565 which offers decent profit margin for traders to sell short. On the other hand, a break above the 0.7892 resistance level could potentially drive price into its 0.8068–0.8031 resistance area.

AUDUSDrDaily

23rd March 2015 Market Outlook

Kiwi Dollar – NZD/USD is trying to break through its 0.7620–0.7568 resistance area. If price close above this resistance area today, traders may consider buying into this market as price might continue to rally higher into its 0.8031–0.7978 resistance area in the coming days. The overall trend is still bearish thus traders who are considering buying into this market will need to be more cautious on placing stops and profit targets.

NZDUSDrDaily

 

Pound Loonie – GBP/CAD is currently siting above the 1.8666–1.8577 support area. Given that the overall trend is still bullish, traders may consider buying into this market. Conservative traders may wait for price to breaks above last Friday candle high for confirmation or wait for price to perform a strong rejection at this 1.8666–1.8577 support area before going long for a safer entry. If price bounce off from this support area, price is then likely going to rally into its 1.9541 resistance level in the coming weeks.

GBPCADrDaily

 

Kiwi Yen – NZD/JPY is currently trading within the 91.85–91.12 resistance area. If price performs a rejection at this resistance area, traders may consider shorting at this 91.85–91.12 resistance area. On the other hand, if price breaks through this 91.85–91.12 resistance area, we are then likely going to see price retest its 93.96–93.66 resistance area again in the near term.

NZDJPYrDaily

20th March 2015 Market Outlook

Pound Dollar – GBP/USD shot through the 1.4987 resistance level but quickly snapped back below it. The trend is clearly bearish at the moment thus traders may consider selling the Pound to ride on this bearish trend. Price is likely going to continue to move lower in the coming days as the trend is still very bearish at the moment.

GBPUSDrH4

 

Euro Yen – EUR/JPY rejected the 130.90 resistance level with full force. Traders may consider selling short at this 130.90 resistance level as the trend is bearish at the moment. The next key support level is not found until 125.00 thus traders who have sold short or intended to sell short are recommended to use trailing stop to protect the profits while letting the profits roll bigger.

EURJPYrH4

 

Euro Aussie – EUR/AUD performed a rejection at its 1.4000–1.3963 key resistance level showing bears are still in control in this market. Given that the long term trend is still bearish, traders may consider selling short at this key resistance area to ride on this strong bearish trend. The next key support level is not seen until 1.3190 which is around 700 pips away from current price which offers huge profit margin for traders to sell short.

EURAUDrDaily

19th March 2015 Market Outlook

Euro Loonie – EUR/CAD retrace back up to the 1.3802–1.3749 resistance area and performed a strong rejection at this resistance area. Traders who have shorted the 1.4075 resistance level as we recommended in our 3rd March 2015 Market Outlook may consider holding onto the short position while adding new short position at the 1.3802–1.3749 resistance area as the long term trend is still bearish. On the other hand, traders who have missed the shorting opportunity at the 1.4075 resistance level may still consider shorting at the 1.3802–1.3749 resistance area to join this strong bearish trend.

EURCADrH4

 

Gold – Gold retrace back up to its 1171.76 resistance level as we expected in our 13th March 2015 Market Outlook. Since the overall trend is still bearish, traders may consider selling short at this 1171.76 resistance level to rejoin the bearish trend while traders who have shorted since the 1219.42 resistance level as we recommended in our 27th February 2015 Market Outlook may consider continue holding onto the short position with a trailing stop behind to lock in the profits. As long as price remains below the 1171.76 resistance level, we are likely going to see more downside move in the coming days.

XAUUSDrH4

 

Loonie Dollar – USD/CAD fell lower after it failed to breaks through the 1.2799 resistance level as we expected in our 12th March 2015 Market Outlook. The long term trend is still bullish thus traders may still look for buying opportunity. Price could potentially bounce at the red trend line or 1.2390 horizontal support level thus traders may consider looking for buying opportunity near these areas. Price is likely going to retest its 1.2799 resistance level or even break through it in the near term.

USDCADrDaily

18th March 2015 Market Outlook

Kiwi Dollar – NZD/USD fell lower after price performed a rejection near the 0.7450 resistance level as we expected in our 13th March 2015 Market Outlook. Price did bounce a little at the 0.7320 support level as we discussed in 13th March 2015 Market Outlook but price breaks through the 0.7320 support level without any surprises as the overall trend is still bearish. Traders who have shorted at the 0.7450 resistance level as we recommended may consider continue holding onto the short trades as price is likely going to move lower and might retest 0.7180 support level again in the near future.

NZDUSDrH4

 

Pound Dollar – GBP/USD fell lower after price retrace back up to its 1.4850–1.4891 resistance area as we expected in our 17th March 2015 Market Outlook. Traders who have went short at the resistance area as we recommended may consider continue holding onto the short position with a trailing stop behind as price might retest the 1.4700 support level today. If price breaks through the 1.4700 support level, we are then likely going to see price move even lower in the coming days.

GBPUSDrH4

 

Euro Aussie – EUR/AUD is approaching its 1.4000–1.3963 key resistance level. Given that the long term trend remains bearish, traders may seek for shorting opportunity at this key resistance level as price is likely going to resume its bearish trend. The next key support level is not seen until 1.3190 which is around 700 pips away from current price which offers huge profit margin for traders to sell short.

EURAUDrDaily