30th June 2015 Market Outlook

Euro Yen – EUR/JPY pullback to its 138.01 resistance level and filled the gap. Given that the short term momentum is bearish at the moment, traders may consider selling short at this 138.01 resistance level. If price fell lower from here, price is then likely going to retest its 133.73 support level in the coming days. Traders who intended to short this market will need to trail the stop closely as the uncertainty in Greece may cause price to fluctuate wildly.

EURJPYrH4

 

Pound Dollar – GBP/USD is currently trading at its 1.5690 support level. The market is undecided on which way it wants to head yet but given that the trend is still bullish, we could potentially see price rally higher. However if price breaks the 1.5690 support level, we are then likely going to see price continue to move lower into its 1.5443 support level. If price indeed decline into its 1.5443 support level, traders may still look for long opportunities to trade in line with the bullish trend.

GBPUSDrDaily

 

Pound Swiss Franc – GBP/CHF printed a triple top chart formation at its 1.4652 resistance level. GBP/CHF fell lower after price breaks the neckline of the triple top but price is making its way back to the neckline or 1.4652 resistance level. If price rejects the 1.4652 resistance level, traders may then consider selling short at this 1.4652 resistance level. The next support level is not found until 1.4441 support level thus traders have a huge profit margin to trade the short side.

GBPCHFrH4

29th June 2015 Market Outlook

Aussie Loonie – AUD/CAD rejected its 0.9594 resistance level and fell significantly lower into its 0.9439–0.9411 support area as we expected in our 26th June 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at the 0.9439–0.9411 support area as price is currently struggling to make decision at this very support area. If price breaks the support level, we are then likely going to see price decline further into its 0.9321 support level.

AUDCADrH4

 

Euro Aussie – EUR/AUD once again pullback to its 1.4445–1.4351 support area. Although the short term momentum had turned slightly bearish but the over the longer term horizon, the trend is still bullish thus traders may consider buying into this market at the 1.4445–1.4351 support area. If price bounce off this support level, we are then likely going to see price rally higher into its 1.4803 resistance level in the coming days.

EURAUDrDaily

 

Silver – Silver fell into its 15.62–15.28 support area after price broke the 16.73 support level as we expected. Traders who went short as we recommended may consider taking profits at this 15.62–15.28 support area. Price also rejected the 15.62–15.28 support area on last Friday which may lead price higher into its 16.73 resistance level.

XAGUSDrDaily

26th June 2015 Market Outlook

Aussie Loonie – AUD/CAD rejected its 0.9594 resistance level and fell lower. Since we are in a trading range on the shorter term horizon, traders may consider selling at this 0.9594 resistance level with the first target at the 0.9439–0.9411 support area. Price is likely going to continue to decline lower in the coming days while traders who have shorted this market may trail the stop closely to lock in the profits.

AUDCADrH4

 

Swiss Franc Yen – CHF/JPY rallied higher after price rejected the 131.30 support level as we expected in our 10th June 2015 Market Outlook. Price once again pullback to the 131.30 support level where traders may consider buying into this market if price rejects this support level. Price is likely going to rally higher if price rejects this 131.30 support level. On the other hand, if price breaks the 131.30 support level, we are then likely going to see price move lower into its next support level at 128.19.

CHFJPYrDaily

 

Euro Kiwi – Yesterday EUR/NZD rejected its 1.6154 support level. Given that we are in a strong bullish trend, traders may consider buying into this market at this 1.6154 support level. Price is likely going to continue its bullish trend and may break through the 1.6567 resistance level. If price breaks the 1.6154 support level, traders may still look for buying opportunity when price move lower into its 1.5816 support level as it’s a good level to hunt for buying opportunities especially when we have a strong bullish trend on our side.

EURNZDrDaily

25th June 2015 Market Outlook

Loonie Dollar – USD/CAD did not decline lower after price rejected the 1.2367 resistance level but break through the 1.2367 resistance level and closed above it. The short term momentum had turned into bullish at the moment thus traders may consider looking for buying opportunities on lower time frame when price pullback to the 1.2367 support level (Previous resistance level). As long as price remains above the 1.2367 support level, we remain bullish bias and traders may continue to hunt for buying opportunities.

USDCADrDaily

 

Pound Dollar – GBP/USD fell into its 1.5690 support level as we expected in our 23rd June 2015 Market Outlook. Given that we are still in a bullish trend, traders may consider looking for buying opportunity at this 1.5690 support level. Ideally, we would prefer to see price rejects this support level before buying into this market for safer entry. If price bounce off away from this support level, we are likely going to see price to retest its 1.5890 resistance level in the near term.

GBPUSDrDaily

 

Pound Swiss Franc – GBP/CHF rallied into its 1.4700 resistance level and performed a false break at this resistance level. The false break we have at the 1.4700 resistance level could potentially pull price back to the 1.4441 support level. Aggressive traders may consider shorting this market while conservative traders are recommended to wait for price to pullback to the 1.4441 support level or after price breaks the 1.4700 resistance level before buying into this market.

GBPCHFrDaily

24th June 2015 Market Outlook

Loonie Dollar – USD/CAD rallied higher into the 1.2367 resistance level after price performed a strong rejection on last Thursday as we expected in our 22nd June 2015 Market Outlook. Traders may consider selling at this 1.2367 resistance level to ride on the bearish trend. The next support level is not found until 1.2129 support level which offer traders decent profit margin to trade the short side.

USDCADrH4

 

Euro Pound – EUR/GBP gained some points earlier today and may pullback to the 0.7126 resistance level today as well. Traders may consider shorting this market when price hit the 0.7126 resistance level. Ideally, we would prefer to see price rejects this 0.7126 resistance level or any other confirmation before shorting for safer entry.

EURGBPrH4

 

Kiwi Dollar – There is a short term resistance level at 0.6879 resistance level in NZD/USD. Given that we are still in a bearish trend, traders may consider selling short at this 0.6879 resistance level for a few short term scalp trades. If price breaks the 0.6879 resistance level, price is then likely going to continue to rally higher into its 0.7021 resistance level which is also a good level to look for shorting opportunity.

NZDUSDrH4

23rd June 2015 Market Outlook

Aussie Dollar – AUD/USD performed a false break at the 0.77879 resistance level which may lead price lower in the coming days. Price is just consolidating in the last few months but over the longer term horizon, price is heading South. Traders may consider shorting this market with a more conservative or tighter target as the market is just moving sideway. If price breaks the 0.7565 support level, we are then likely going to see price fall even lower in the coming weeks.

AUDUSDrDaily

 

Pound Dollar – GBP/USD slowed down and is turning lower after price hit the 1.5890 resistance level. Price is likely going to continue to decline into its 1.5690 support level in the near term. Given that the trend is still bullish, traders may consider buying this market when price pullback to the 1.5690 support level. Ideally, we would prefer to see price rejects the 1.5690 support level before going long for a safer entry.

GBPUSDrDaily

 

Pound Loonie – GBP/CAD rallied higher and is approaching the 1.9550 resistance level after price broke its 1.9220 resistance level as we expected in our 16th June 2015 Market Outlook. Traders who are long at the break or at the pullback to the 1.9220 support level (previous resistance level) as we recommended may consider taking profits or scale out the position near this 1.9550 resistance level as it may be a big obstacles for price to pass through it as it’s a key resistance level. However if price could break through this 1.9550 resistance level, we are then likely going to see price move significantly higher as there’s no immediate resistance level after the 1.9550 key resistance level.

GBPCADrDaily

22nd June 2015 Market Outlook

Pound Aussie – GBP/AUD rallied significantly higher after price breaks the 1.9656 resistance level as we expected in our 11th May 2015 Market Outlook. Price did pullback to the 1.9656 support level (Previous resistance level) which offer traders second chance to jump on the bullish momentum. Price even break through the 2.0000 key resistance level/psychological level which lead to further upside movement. If price pullback to the 2.0056 key support level, traders may then consider buying into this market to jump on this bullish trend. The next key resistance level is not found until 2.0950 which offer traders massive profit margin to trade the long side.

GBPAUDrDaily

 

Pound Swiss Franc – GBP/CHF showed some weakness on Friday close. There’s a resistance level above current price at around 1.4700. Aggressive traders may consider shorting near this resistance level while conservative traders may consider waiting for price to fall to its 1.4441 support level and go long at the support level or wait for price to breaks above the 1.4700 resistance level before going long for safer entry.

GBPCHFrH4

 

Loonie Dollar – USD/CAD performed a strong rejection on last Thursday. Price could potentially climb higher in the coming days. If price rally into its 1.2367 resistance level, traders may then consider selling short to trade with the bearish momentum. Price is likely going to continue lower as there’s no obvious support level below to push price higher in the near term.

USDCADrDaily

19th June 2015 Market Outlook

Swiss Franc – USD/CHF pullback to its 0.9245 resistance level yesterday and performed a rejection at this resistance level. Since the overall trend is bearish, traders may consider selling short when price pullback to this 0.9245 resistance level again today as price is likely going to resume its bearish trend until price hit the next support level at around 0.9080. Traders may also set the first target at the previous swing low at 0.9150 to lock in profits when price move in our favor.

USDCHFrH4

 

Euro Dollar – On the other hand, EUR/USD is slowly approaching its 1.1527–1.1456 resistance level. If price rejects the 1.1527–1.1456 resistance level, we may have strong decline as price looks tired on its way up to this heavy resistance area. However if price push through this resistance level decisively and close above it, we are then likely going to see price continue to rally higher in the coming days.

EURUSDrDaily

 

Gold – Gold rallied significantly higher after price breaks the consolidation. The origin of this rally is located at the 1174.88–1170.22 support area as we expected in our 9th June 2015 Market Outlook after price performed a rejection at the 1174.88–1170.22 support area. Traders who went long as we recommended may consider continue holding onto the long position while trailing the stop behind to lock in the profits as price is likely going to continue to resume higher into its 1223.95–1215.31 resistance level in the coming days.

XAUUSDrDaily

18th June 2015 Market Outlook

Euro Aussie – EUR/AUD rallied higher after rejecting the 1.4445–1.4351 support area as we expected in our 16th June 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position as price is likely going to continue to rally higher into its resistance area at 1.4890–1.4803 while trailing the stop to protect the profits from giving back to the market.

EURAUDrH4

 

Pound Loonie – GBP/CAD broke its 1.9220 resistance level as we expected in our 16th June 2015 Market Outlook. Traders who are long at the break or at the pullback to the 1.9220 support level (previous resistance level) as we recommended should be up with a huge profits at the moment. However there’s still room for price to head north as the next key resistance level is not found until 1.9550 which offer traders massive profit margin to trade the long side thus traders who long as we recommended may consider holding onto the long position while letting profits to run. If price pullback to the support level again, traders who missed the buying opportunity may consider buying into this market while traders who are long may also consider scale in the long position.

GBPCADrH4

 

Aussie Loonie – AUD/CAD once again retest its 0.9439–0.9411 support level. Since price has tested this support area multiple times, we are likely going to see price breaks this support area. Price could either goes up or down at this support level but given that the long term trend is bearish coupled with the fact that price had retested the support area multiple times, we are likely going to see price fall lower in the coming days.

AUDCADrDaily

17th June 2015 Market Outlook

Gold – Gold is consolidating at its 1174.88–1170.22 support area ahead of the FOMC. Market is waiting for the news announcement later today in the evening. If price breaks higher, we could then see price continue to rally higher into its 1223.95–1215.31 resistance area. On the other hand, if price breaks below the 1174.88–1170.22 support area, price is then likely going to continue to decline lower probably into its 1143.00 support level in the coming days.

XAUUSDrDaily

 

Euro Kiwi – EUR/NZD is currently trading at its 1.6248–1.6154 resistance area. Given that we are in a strong up trend, price may break through this resistance area in the near term. Traders may consider buying into this market if price pullback to its 1.5816 support level. Aggressive traders may also consider shorting this market at this resistance area for a short term counter trend trade while having their target at the 1.5816 support level. Given that we are in a strong up trend. Traders who intend to short this market need to be more cautious especially on stop placement.

EURNZDrDaily

 

Euro Swiss Franc – EUR/CHF is having a similar scenario we see in the gold market. Price is consolidating at the 1.0523–1.0503 resistance area. If price breaks above the consolidation, we are then likely going to see price rally higher in the coming days. While if price breaks lower, we could see EUR/CHF resume its trading range and most likely going to decline into its 1.0301–1.0279 support area in the coming days. However, since price had been chopping around the 1.0523–1.0503 resistance area in the last two weeks, we are likely going to see price breakout higher in the coming days.

EURCHFrDaily