30th April 2015 Market Outlook

Swiss Franc – USD/CHF had a strong decline yesterday and broke its 0.9491 support level. The short term momentum has turned bearish thus traders may consider looking for shorting opportunities in this market to ride on the bearish momentum. 0.9491 resistance level (previous support level) is a good spot for hunting shorting opportunity. Ideally waiting for price to rejects the resistance level or any other confirmation before shorting to avoid false breakout.

USDCHFrH4

 

Aussie Yen – AUD/JPY broke its 94.67 key resistance level but then rejects the next resistance level at 95.63 and quickly falls back below the 94.67 key resistance level. If price close below the 94.67 key resistance level, we will then have a false break at this key resistance level which may lead price lower in the coming days. Traders may consider taking advantages of this false breakout by shorting this market.

AUDJPYrDaily

 

Loonie Dollar – USD/CAD continue to make lower lows and lower highs. Given the trend is bearish at the moment, traders may consider shorting this market if price retrace back up to the 1.2100 resistance level. The next key support level is still far away from current price thus traders may take advantage of the massive profit margin to sell short.

USDCADrH4

29th April 2015 Market Outlook

Aussie Dollar – AUD/USD rally into its 0.8068–0.8031 resistance area after price broke the 0.7892 resistance level as we expected in our 28th April 2015 Market Outlook. Traders who have went long at the 0.7565 support level as we recommended in our 3rd April 2015 Market Outlook and 16th April 2015 Market Outlook may consider taking partial profits at this 0.8068–0.8031 resistance area while leaving the rest for potential higher profits. If price breaks the 0.8068–0.8031 resistance area, we are then likely going to see price continue to rally higher in the coming weeks.

AUDUSDrDaily

 

Euro Dollar – EUR/USD continue to print higher highs and higher lows on the shorter term chart. The short term momentum is currently up while the long term trend is still bearish. Traders may consider buying into this market if price pullback to the 1.0829 support level. Conservative traders may consider staying at the sideline as we have high impact news coming out later today which may cause erratic volatility in the market. However if price breaks above the 1.1112–1.1042 resistance area, price is then likely going to rally higher.

EURUSDrH4

 

Aussie Loonie – AUD/CAD breaks its 0.9565–0.9540 resistance area after 2 weeks of consolidation. Traders may consider buying into this market if price pullback to the 0.9565–0.9540 support area (Previous resistance area). Over the longer term horizon, price seems undecided on which direction it wants to head but looking at the shorter term momentum, we can see price is in favor to the bulls thus traders may look for buying opportunity for short term trade setups to ride with the bulls.

AUDCADrH4

28th April 2015 Market Outlook

Silver – We had a strong rally yesterday in Silver and price is getting closer to its 16.55 resistance level. Given that the overall trend is still bearish, traders may consider selling short at this 16.55 resistance level with the first target at the recent swing low. Conservative traders may consider waiting for price to rejects the 16.55 resistance level or any other confirmation before selling short for safer entry.

XAGUSDrDaily

 

Aussie Dollar – AUD/USD continue to rally higher into its 0.7892 resistance level after price rejected its 0.7565 support level as we expected in our 3rd April 2015 Market Outlook and 16th April 2015 Market Outlook. Traders who went long as we recommended may consider taking profits or at least scale out the position at the 0.7892 resistance level to lock in profits. If price breaks the 0.7892 resistance level, we are then likely going to see price continue to move higher into its 0.8068–0.8031 resistance area.

AUDUSDrDaily

 

Euro Kiwi – EUR/NZD is currently trading at the 1.4219 support level. The long term trend is still bearish but the short term momentum has turned into bullish thus traders may consider buying into this 1.4219 support level for a short term play. The next key resistance level is not found until 1.4546 which offers traders massive profit margin to go long. On the other hand, if price breaks the 1.4219 support level, we are then likely going to see price resume its long term bearish trend.

EURNZDrH4

27th April 2015 Market Outlook

Pound Loonie – GBP/CAD is currently trading at its key resistance level at 1.8488. The trend is bearish at the moment thus traders may consider shorting this 1.8488 key resistance level to ride on this bearish trend. The next support level is not found until 1.8154 which offer traders decent profit margin to sell short. Traders may look for shorting opportunity on lower time frame as well to fine tune the entry.

GBPCADrDaily

 

Kiwi Yen – The short term momentum in NZD/JPY has turned bearish after price performed a false break at the 91.85–91.12 resistance area as we discussed in our 24th April 2015 Market Outlook. Traders who aren’t shorting this market or have missed the earlier shorting opportunity may consider shorting at the 91.19 resistance level. The next support area at 89.01–88.72 may serve as a target for traders to cover their short position.

NZDJPYrH4

 

Aussie Kiwi – AUD/NZD slid slightly lower after price hit the 1.0301 resistance level. The long term trend is bearish but the short term momentum has turned bullish thus if price pullback to the 1.0216 support level, traders may consider buying into this market. Given that the long term trend is still bearish, traders are recommended to wait for price to rejects the 1.0216 support level or any other confirmation before buying into this market to increase the probability of the trade.

AUDNZDrH4

24th April 2015 Market Outlook

Aussie Swiss Franc – AUD/CHF fell lower after price rejected its 0.7536 resistance level as we expected in our 23rd April 2015 Market Outlook. Traders who have went short as we recommended may consider holding onto their short position as price is likely going to continue to move lower and retest its 0.7357 support level. However, there’s a short term support level below current price (blue horizontal level) where conservative traders may consider taking partial profits.

AUDCHFrH4

 

Pound Yen – GBP/JPY short term momentum had turned bullish after price broke the 179.26 resistance level. Traders may consider buying into this market when price pullback to the 179.26 support level (Previous resistance level) to ride on the bullish momentum. The next resistance level is not found until 180.98 which offer traders decent profit margin to trade the long side.

GBPJPYrH4

 

Kiwi Yen – NZD/JPY failed to breaks its 91.85–91.12 resistance area after multiple attempts. Price breaks the resistance area on Wednesday morning but quickly snaps back into its 91.85–91.12 resistance area in the afternoon and closed lower causing a false break which shows the bears are hunting the breakout traders. The false break we had on Wednesday is likely going to continue to move price lower in the coming days and it might retest the 89.01–88.72 support area in the near term.

NZDJPYrDaily

23rd April 2015 Market Outlook

Aussie Swiss Franc – AUD/CHF is currently trading below its short term resistance level at 0.7536. Given that we are in a short term trading range, traders may consider shorting at this 0.7536 resistance level. Price is likely going to move lower and retest the 0.7357 support level in the near term. We remain bearish as long as price stays below the 0.7536 resistance level.

AUDCHFrH4

 

Pound Swiss Franc – Yesterday we had a strong breakout in GBP/CHF. The short term momentum in GBP/CHF is bullish now thus traders may look for buying opportunity to ride on this bullish momentum. 1.4431 support level (previous resistance level) offer traders a good spot for hunting buying opportunities thus if price pullback to this 1.4431 support level and rejects it, traders may then consider buying into this market.

GBPCHFrH4

 

Euro Kiwi – EUR/NZD is currently trading at the 1.4140 resistance level. Since the overall trend is still bearish, traders may consider selling short at this 1.4140 resistance level if price rejects this 1.4140 resistance level. If price breaks the 1.4140 resistance level, traders may still look for selling opportunities at the 1.4238 resistance level to jump on this bearish trend.

EURNZDrH4

22nd April 2015 Market Outlook

Gold – Gold is currently in a consolidation mode. The longer term trend remains down thus traders may look for bearish breakdown in the Gold market. If price breaks away from its triangle chart pattern, it’s then likely going to retest its 1143.06 support level in the coming days. On the other hand, a break above the 1223.95 resistance level could potentially lead price to reverse this bearish trend.

XAUUSDrDaily

 

Loonie Dollar – After the strong and clean breakdown in USD/CAD we had on last Wednesday, USD/CAD had finally ended its 2 months consolidation period. The 1.2357 key resistance level (Previous support level) may offer traders who have not sold short at the breakout a second chance to jump on the bearish momentum. Ideally we would prefer to see price rejects the 1.2357 key resistance level or wait for confirmation before shorting for a more conservative entry as the longer term trend is still bullish. The next key support level is far from current price thus offer traders massive profit margin to sell short.

USDCADrDaily

 

Kiwi Yen – NZD/JPY is currently trading in the 91.85–91.12 resistance area. Yesterday price did breaks above the resistance area but unfortunately it snaps back into the 91.85–91.12 resistance area at the end of the day. Now price once again attempts to breaks through this resistance area and if price successfully breaks this 91.85–91.12 resistance area, we are then likely going to see price rally into its 93.96–93.66 resistance level soon after the breakout. Traders may consider buying at the break of 91.85–91.12 resistance area to ride on the bullish breakout.

NZDJPYrDaily

21st April 2015 Market Outlook

Kiwi Dollar – NZD/USD is pulling back to its 0.7622 support level. The long term trend is still bearish but the short term momentum has turned into bullish thus traders may consider buying at this 0.7622 support level to ride on this fresh bullish momentum. Ideally, traders would want to wait for price to rejects this 0.7622 support level or other confirmation before buying into this market to increase the odds of the trade. If price rejects and bounce off away from its 0.7622 support level, it’s then likely going to retest its 0.7738 resistance level and may breaks through it as well if the bulls remains in control.

NZDUSDrH4

 

Pound Kiwi – GBP/NZD is currently sitting at above the 1.9371–1.9263 key support area. If price rejects the 1.9371–1.9263 key support area and breaks the blue down slopping trend line, we are then likely going to see price rally higher probably into its 2.0005 key resistance level which is also a big round number that may act as a price magnet pulling price towards it. On the other hand, if price close below the 1.9371–1.9263 key support area, price is then likely going to resume its bearish trend.

GBPNZDrDaily

 

Aussie Yen – AUD/JPY is currently trading within a short term range of 93.02 resistance level and 90.44 support level. It’s a 60pips range which is quite suitable for day traders or scalpers to trade the range. After price rejected the 93.02 resistance level, we are most likely going to see price decline lower to its lower end of the trading range at 90.44 support level in the near term.

AUDJPYrDaily

20th April 2015 Market Outlook

Loonie Yen – After the strong breakout we have in CAD/JPY in the previous week, the 96.82 resistance level has turned into support level. Since the market is just breaking out, we may see price continue to rally higher in the coming days thus traders may look for buying opportunity at the 96.82 and 95.98 support level. Over the longer term outlook, price seems undecided on which way it wants to head but having a look at the shorter term momentum, we have a clear breakout to the upside thus we may continue to look for buying opportunities until price breaks the 96.82 and 95.98 support level.

CADJPYrH4

 

Pound Dollar – GBP/USD rejected its 1.4983 resistance level with full force on last Friday leaving a long tail bar at this key resistance level. Given that the overall trend is still bearish, traders may consider selling at this resistance level to rejoin the bearish trend. Conservative traders may have their pending sell stop at last Friday bar low for confirmation purposes. If price fall through its last Friday low, we are then likely going to see price decline lower in the coming days and probably going to retest its 1.4631 support level in the near term.

GBPUSDrDaily

 

Euro Pound – EUR/GBP once again rejected its 0.7223 resistance level offering traders selling opportunity. EUR/GBP has entered into a short term consolidation thus traders who intended to sell short at this 0.7223 resistance level may consider having their first target at the blue horizontal line on the chart which is also a short term support level for the consolidation. If price broke the short term support level highlighted on the chart, we are then likely going to see price decline lower and may as well retest its 0.7038 support level in the near term.

EURGBPrH4

17th April 2015 Market Outlook

Pound Dollar – GBP/USD is approaching its 1.4983 resistance level. Given that the overall trend is still bearish, we might see price decline lower from here thus traders may consider shorting at this 1.4983 resistance level. Ideally we would like to see price rejects this 1.4983 resistance level or any other confirmation before shorting for safer entry. The next support level is not found until 1.4631 thus offering traders decent profit margin to sell short. However if price breaks through this 1.4983 resistance level, price is then likely going to rally into its 1.5514 resistance level.

GBPUSDrDaily

 

Euro Yen – Yesterday EUR/JPY rejected the 128.46 resistance level showing bears are still in this market. Since we are still in long term bearish trend, traders may consider shorting at this 128.46 resistance level. If price fell off from here, we are then likely going to see price decline into its 126.28 support level in the near term.

EURJPYrH4

 

Kiwi Yen – NZD/JPY once again try to push through its 91.85–91.12 resistance area. If price breaks through this 91.85–91.12 resistance area, price is then likely going to retest its 93.96–93.66 resistance level soon after the breakout. If price fail to push through the 91.85–91.12 resistance area, it’s then likely going to decline lower again.

NZDJPYrDaily