29th May 2015 Market Outlook

Euro Kiwi – EUR/NZD rally significantly higher after price bounce off away from its 1.5011–1.4953 support area as we expected in our 25th May 2015 Market Outlook. Traders who went long at this 1.5011–1.4953 support area may consider taking profits or scale out the position at around the 1.5402 resistance level. If price breakthrough the 1.5402 resistance level, we are then likely going to see price continue to rally higher in the coming days probably into its next key resistance level at 1.5700.

EURNZDrH4

 

Euro Aussie – EUR/AUD is approaching its 1.4428–1.4351 resistance area after price rejected the 1.3963 support level as we expected in our 15th May 2015 Market Outlook. Traders who went long at the 1.3963 support level as we recommended may consider taking profits at the 1.4428–1.4351 resistance area. If price rejects this 1.4428–1.4351 resistance area, traders may also consider shorting this market as the market is moving sideway at the moment. While if price breakout away from the trading range, we are then likely going to see some explosive move followed by the breakout.

EURAUDrDaily

 

Silver – Silver is currently sitting at its 16.73 decision level. If price break above yesterday’s high, traders may consider buying into this market while if price breaks below yesterday’s low, traders may then consider shorting this market. Traders are recommended to stay at the sideline until there’s a clear decision where the market wanted to move towards before jumping in.

XAGUSDrDaily

28th May 2015 Market Outlook

Euro Dollar – EUR/USD fell directly into its 1.0829 support level and performed a rejection at this support level. Aggressive traders may consider buying into this market for short term counter trend trade as price may retrace back up to its 1.1132–1.1068 resistance area in the coming days. On the other hand, conservative traders may consider shorting this market when price retrace back up to the 1.1132–1.1068 resistance area to trade with the overall bearish trend.

EURUSDrDaily

 

Aussie Kiwi – AUD/NZD is on its way back to its 1.0519 support level. Given that the short term trend is bullish at the moment, traders may consider buying into this market when price pullback to its 1.0519 support level. Ideally, we would prefer to see price rejects this 1.0519 support level or any other confirmation before entering the trade for safer entry. If price bounce off away from the 1.0519 support level, we are then likely going to see price rally higher into its 1.0890 resistance level which may also serve as the first target for traders with long positions.

AUDNZDrDaily

 

Euro Pound – EUR/GBP overall trend is still bearish and price is trying to make its way back to the 0.7123 resistance level. Traders may consider shorting this market when price pullback to the 0.7123 resistance level as it’s a high probability area for hunting short setups. However, waiting for confirmation before shorting this market would be a better way to short this market as it will keep us away from getting in too early.

EURGBPrH4

27th May 2015 Market Outlook

Gold – Gold fell lower after it performed a false breakout at the 1233.95–1215.31 resistance area as we expected in our 20th May 2015 Market Outlook. Traders who went short at the gold market as we recommended may consider continue holding onto the short position while trailing the stop behind to protect the profits. Price is likely going to resume its bearish move to its next support area at 1174.88–1170.22.

XAUUSDrDaily

 

Pound Dollar – GBP/USD broke its 1.5490 support level and closed below it on Monday. The long term trend is still bearish and the short term momentum had turned into bearish as well after the 1.5490 support level is broken. Traders may consider selling short at the 1.5490 resistance level (Previous support level) to jump on the bearish trend. Ideally, we would prefer to see rejections or any other confirmation at this 1.5490 resistance level before shorting for safer entry. GBPUSDrH4

 

Aussie Dollar – AUD/USD did not pullback to its 0.7873 resistance level but broke its 0.7789 support level yesterday turning this 0.7789 support level into resistance level. Given that the trend is still bearish at the moment, traders may consider shorting this market when price pullback to the 0.7789 resistance level (Previous support level) to rejoin the bearish trend. If price pullback to the 0.7873 resistance level, traders may still consider looking for selling opportunity as it’s still a high probability level for traders to hunt for shorting opportunities.

AUDUSDrH4

26th May 2015 Market Outlook

Euro Dollar – EUR/USD broke its support level on last Friday which opened up the door for potential further losses in the coming days. Given that the long term trend is still bearish, traders may consider shorting this market when price pullback to the 1.1132–1.1068 resistance area. Price is likely going to continue to move lower in the coming days and as long as price remains below the 1.1132–1.1068 resistance area, traders may then continue look for shorting opportunity in this market.

EURUSDrH4

 

Loonie Yen – We have a triangle chart pattern in CAD/JPY at the 98.42 support level. Price breakout away from the triangle chart pattern this morning showing that price may rally further up from here. Traders may consider buying into this market as we have a breakout in the direction of the overall bullish trend. If the bulls continue to gets into this market, price may potentially retest its 99.90 resistance level in the near term.

CADJPYrH4

 

Pound Loonie – GBP/CAD is currently on its way back to the 1.8900 support level. Traders may consider buying into this market when price pullback to the 1.8900 support level as the trend is bullish at the moment. Ideally, waiting for price to rejects the 1.8900 support level or any other confirmation before going long will increase the odds of the trade. Traders may also look for buying opportunity on lower time frame when price pullback to the 1.8900 support level to fine tune the entry for better risk:reward.
GBPCADrDaily

25th May 2015 Market Outlook

Aussie Dollar – AUD/USD broke its 0.7873 support level on last Friday decline turning the support level into resistance level. Price is now trading near the 0.7789 support level which may slightly lift the price higher before moving lower. Given that the long term trend is still bearish, traders may consider shorting this market at the 0.7873 resistance level (Previous support level) to rejoin the bearish trend. If price broke its 0.7789 support level, we are then likely going to see price continue to move lower into its next support level at 0.7684.

AUDUSDrH4

 

Euro Kiwi – EUR/NZD is currently trading at the 1.5011–1.4953 support area. This is a short term support level which is inline with the bullish momentum we have in this market thus traders may consider buying into this market to ride on the bullish momentum. Ideally, we would prefer to wait for price to rejects this support area or any other confirmation before going long for safer entry. If price indeed bounce off this support area, we are then likely going to see price rally higher into its 1.5402 resistance level in the near term.

EURNZDrH4

 

Euro Swiss Franc – The 1.0384 support level in EUR/CHF failed to hold in last week trading after the bears decide to push through it. The momentum is bearish at the moment as we have lower lows and lower high printed on the chart. Traders may consider waiting for price to pullback to its 1.0384 resistance level (Previous support level) before shorting this market for better risk:reward. If price rejects this  1.0384 resistance level, we are then likely going to see price decline into its support level at 1.0312 in the coming days.

EURCHFrH4

22nd May 2015 Market Outlook

Pound Dollar – GBP/USD rallied higher after price fell into its 1.5490 support level as we expected in our 20th May 2015 Market Outlook. Traders who went long at this 1.5490 support level as we recommended may consider continue holding the long position as price is likely going to continue to rally higher into its 1.5790 resistance level in the coming days.

GBPUSDrDaily

 

Japanese Yen – USD/JPY broke its consolidation earlier this week but price is currently retracing back into its consolidation area again. If price rejects the 120.48–120.22 support area, traders may consider buying into this market for a short term trade. If price bounce off away from this 120.48–120.22 support area, we are then likely going to see price rally into its 121.85 resistance level in the near term.

USDJPYrDaily

 

Euro Pound – Yesterday EUR/GBP broke its 0.7123 support level but price retrace back up to the 0.7123 resistance level (Previous support level) this morning. Given that the trend is bearish at the moment, traders may consider selling at this 0.7123 resistance level. Traders may wait for price to rejects this 0.7123 resistance level or any other confirmation before shorting for a safer entry.

EURGBPrH4

21st May 2015 Market Outlook

Loonie Yen – CAD/JPY rallied higher after price rejected its 98.42 support level as we expected in our 20th May 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position while trailing the stops behind as price is likely going to continue moving higher into its 100.00 key resistance level/psychological level.

CADJPYrH4

 

Euro Dollar – EUR/USD once again trade into its 1.1112–1.1042 support area. This support area acted as a very key support level in the past and had push price higher every time price gets into this 1.1112–1.1042 support area as we discussed in our 11th May 2015 Market Outlook and 1st May 2015 Market Outlook thus traders may consider buying at this 1.1112–1.1042 support area. However if price breaks this 1.1112–1.1042 support area, we are then likely going to see price continue to move lower into its next support level at 1.0829.

EURUSDrH4

 

Loonie Dollar – USD/CAD is currently trading above the 1.2162–1.2144 support area which may potentially push price higher in the coming days. The trend is bearish at the moment but the short term momentum is currently bullish thus traders may consider buying into this market. As long as price stays above the 1.2162–1.2144 support area, we are then likely going to see price rally higher in the coming days.

USDCADrH4

20th May 2015 Market Outlook

Loonie Yen – CAD/JPY fell lower into its 98.42 support level after rejecting the 100.00 key resistance level which is also a big round number/psychological level. Yesterday price rejected its 98.42 support level showing there could still be buyers buying into this market and accumulate their position before breaking the 100.00 key resistance level. The trend is still bullish as well thus traders may consider buying into this market to jump on the bullish momentum. We are likely going to see price rally higher into its 100.00 key resistance level once again in the near term. Traders who have long position may consider taking profits or scale out the position at the 99.90 resistance level as it is just 10 pips away from the key resistance level.

CADJPYrH4

 

Pound Dollar – GBP/USD fell into its 1.5490 support level after price rejected the 1.5890–1.5790 resistance area as we expected in our 18th May 2015 Market Outlook. Traders who went short at the 1.5890–1.5790 resistance area as we recommended may consider taking profits at the 1.5490 support level and may also consider buying into this market at the 1.5490 support level to ride on the bullish momentum. Ideally, we would prefer to see price rejects the 1.5490 support level or any other confirmation before buying into this market for safer entry. As long as price remains above the 1.5490 support level, we are then likely going to see price rally higher and retest its 1.5890–1.5790 resistance area once again in the near term.

GBPUSDrDaily

 

Gold – Gold performed a false breakout at the 1233.95–1215.31 resistance area. Since we are in a trading range, traders may consider selling short at the 1233.95–1215.31 resistance area as price is likely going to travel to the opposite end of the trading range at 1174.88–1170.22 support area. However we have some roadblocks at the 1200.00 support level thus traders may consider tighten the stops when price gets to the 1200.00 support level (Mid point of the trading range), or scale out the position to lock in profits.

XAUUSDrDaily

19th May 2015 Market Outlook

Aussie Yen – AUD/JPY rejected its 95.72–95.31 support area this morning. Given that the trend is bullish at the moment, traders may consider buying into this market as we are likely going to see price continue to rally higher in the coming days. If price bounce off away from this support area, we are then likely going to see price retest its 97.27 resistance level in the near term.

AUDJPYrH4

 

Loonie Dollar – USD/CAD is currently trading below its 1.2205–1.2162 resistance area. The trend is bearish but over the shorter term horizon, price is moving in a sideway fashion thus traders may consider playing the range by selling at the higher end of the trading range and buy at the lower end of the trading range until price breakout. Since the trend is bearish, shorting at resistance level in this market would be the better and safer way to trade this range.

USDCADrH4

 

Euro Swiss Franc – EUR/CHF had broke its 1.0448 resistance level recently. The momentum is in favour to the bulls thus if price pullback to the 1.0448 support level (Previous resistance level), traders may then consider buying into this market. Ideally we would prefer to see price rejects this 1.0448 support level or any other confirmation before going long for safer entry.

EURCHFrH4

18th May 2015 Market Outlook

Pound Dollar – GBP/USD rallied into its 1.5890–1.5790 resistance area as we expected in our 12th May 2015 Market Outlook. Traders who went long at the 1.5115 support level as we recommended in our 7th May 2015 Market Outlook may consider taking profits or at least scale out the position at this 1.5890–1.5790 resistance area as price rejected this resistance area on last Friday. Price could potentially fall to its 1.5514 support level before rally higher thus aggressive traders may consider shorting at this 1.5890–1.5790 resistance area for short term counter trend trade. On the other hand, conservative traders may consider buying into this market when price pullback to its 1.5514 support level or when price breaks the 1.5890–1.5790 resistance area in order to trade in the direction of the trend.

GBPUSDrDaily

 

Kiwi Dollar – NZD/USD rallied into its 0.7539 resistance level after it performed a false break at the 0.7419–0.7390 support area as we discussed in our 11th May 2015 Market Outlook. Price then rejected the 0.7539 resistance level and move back lower into its 0.7419–0.7390 support area. If price continue to move lower and breaks its previous swing low (blue horizontal line), we are then likely going to see price retest its 0.7180 support level in the near term.

NZDUSDrDaily

 

Pound Yen – GBP/JPY broke through its 187.60 resistance level and closed above it in last week which may push price even higher into its next resistance level at 189.61. Traders who have went long at the 180.98 support level as we recommended in our 5th May 2015 Market Outlook may consider continue holding onto the long position while traders who have missed the buying opportunity may consider buying into this market at the 187.60 support level (Previous resistance level) especially on lower time frame to fine tune the entry. Price is likely going to continue to rally higher into its next resistance level at 189.61.

GBPJPYrDaily