31st July 2015 Market Outlook

Aussie Dollar – AUD/USD fell lower its 0.7263 support level after price rejected its 0.7334 resistance level as we expected in our 29th July 2015 Market Outlook. Traders who went short as we recommended should have took profit at the 0.7263 support level. Price bounce at the 0.7263 support level and we may see price rally into its 0.7334 resistance level in the near term before continue to move lower. However since we are still in a bearish trend, traders may consider shorting this market again if price pullback to the 0.7334 resistance level and rejects it to rejoin on the bearish trend.

AUDUSDrH4

 

Euro Aussie – On the other hand, EUR/AUD did not played out as we would like to and price fell through the 1.5060 support level. However the 1.5060 support level had now turned into resistance level which may offer traders potential shorting opportunities in this market. When price pullback into the 1.5060 resistance level (Previous support level), traders may then consider looking for shorting opportunities especially on the lower time frame to ride on the short term bearish momentum. Traders who intend to short this market need to be more cautious towards shorting this market as the overall trend is still very bullish and conservative traders are recommended to wait at the sidelines until there’s valid buying opportunities to ride on the bullish trend.

EURAUDrH4

 

Japanese Yen – USD/JPY performed a false break at the 123.69 support level. We could see price fell through the 123.69 support level but couldn’t stay long below it. Coupled with the facts that we are in a bullish trend, traders may consider looking for buying opportunity in this market. However price rejected the 124.43 resistance level yesterday and we could potentially see price move lower into its 123.69 support level before rally higher. If price breaks the 124.43 resistance level, we will then see price continue to rally higher in the coming days and traders may either look for buying opportunities when price pullback to the 123.69 support level or when price breakout above the 124.43 resistance level to jump on the bullish trend.

USDJPYrH4

30th July 2015 Market Outlook

Kiwi Dollar – NZD/USD performed another rejection at its 0.6667 resistance level yesterday which may lead price lower in the coming days. Since the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. There’s no key support level below thus traders may consider riding on this bearish trend with a trailing stop instead of setting profit targets to maximize the profit potential in this strong bearish trend. On the other hand, if price breaks above the 0.6667 resistance level and close above, we could potentially see price rally into its next resistance level at 0.6879 in the near term.

NZDUSDrDaily

 

Pound Dollar – GBP/USD broke the 1.5536 resistance level and rallied into its next resistance level at 1.5680 and performed a strong rejection at the 1.5680 resistance level showing the bears are taking control in this market over the short term. Traders may consider shorting this market for a short term trade with a conservative target at the 1.5536 support level (Previous resistance level).

GBPUSDrH4

 

Loonie Yen – There’s a short term resistance level in CAD/JPY at 96.01 which could potentially offer traders some short term selling opportunities to ride on the bearish trend. However due to it’s just a short term resistance level, traders needs to take a more conservative approach when trading CAD/JPY. If price breaks the 96.01 resistance level, we are then likely going to see price continue higher into its 96.82 resistance level in the near term.

CADJPYrH4

29th July 2015 Market Outlook

Euro Aussie – EUR/AUD pullback into its 1.5060 support level smoothly and rejected the 1.5060 support level. It’s a nice looking setup with the bullish trend. Traders may consider buying into this market in order to ride on the bullish trend. The bullish trend is still very strong at the moment thus we are likely going to see price continue to move higher in the coming days.

EURAUDrH4

 

Kiwi Yen – NZD/JPY is making its way back into its 84.05–83.31 resistance area. This is the nearest key resistance area in NZD/JPY and coupled with the strong bearish trend we have in all NZD pairs, we could potentially have high probability trade setup at this 84.05–83.31 resistance area thus if price pullback into the 84.05–83.31 resistance area, traders may then consider looking for shorting opportunities in this market to jump on this bearish trend.

NZDJPYrDaily

 

Aussie Dollar – AUD/USD rejected its 0.7334 resistance level earlier this morning. Traders may consider shorting this market as the overall trend is still bearish. The immediate support level is at the 0.7263 which offer traders decent profit margin to trade the short side. If price breaks the 0.7263 support level, we are then likely going to see price move even lower in the coming days.

AUDUSDrH4

28th July 2015 Market Outlook

Aussie Yen – AUD/JPY rejected its 89.33 support level this morning. Aggressive traders may consider buying into this market until price trade into the 91.01 resistance level for a short term counter trend trade. On the other hand, conservative traders are recommended to stay at the sideline until price reach the 91.01 resistance level and rejects it then traders may consider shorting this market to ride on the bearish trend.

AUDJPYrH4

 

Japanese Yen – USD/JPY failed to rally higher after price rejected the 123.66 support level but fell through its 123.66 support level turning the support level into fresh resistance level. Since the short term momentum had turned bearish after price broke the 123.66 support level, traders may consider shorting this market when price pullback to the 123.66 resistance level (Previous support level) to jump on the short term bearish momentum. Traders who short this market may consider have their first conservative target at the recent swing low as the overall trend is still bullish and if price breaks below the recent swing low, traders may then consider holding onto the short position with a trailing stop behind to protect the profits while allowing the price to move even lower.

USDJPYrH4

 

Euro Aussie – The bulls are in control in the EUR/AUD currency pair and we can see a nice strong bullish trend in this market. Since the overall trend is still bullish, trading the long side will increase the probabilities of the trade we make thus traders may consider buying into this market when price fell into the 1.5060 support level. The next key resistance level is not found until 1.5316 which offer traders huge profit margin to trade the bulls’ side.

EURAUDrH4

27th July 2015 Market Outlook

Silver – Silver had a rejection at its 14.70–14.38 key support area on last Friday. Given that price is at the key support area, aggressive traders may consider buying into this market for a short term counter trend trade but for conservative traders, waiting at the sideline for price to rally back into its 15.62 resistance level before shorting this market would be a safer bet as it’s with the long term bearish trend. On the other hand, if price breaks the 14.70–14.38 key support area decisively, traders may then consider shorting this market as there’s no immediate support level below after the 14.70–14.38 key support area.

XAGUSDrDaily

 

Pound Dollar – We have a short term resistance level in GBP/USD at the 1.5536 price level. The short term momentum is bearish at the moment thus traders may consider looking for shorting opportunities at the 1.5536 resistance level especially on the lower time frame to jump on the bearish momentum. The next support level is not found until 1.5327 which offer traders massive profit margin to trade the short side.

GBPUSDrH4

 

Aussie Loonie – AUD/CAD is still trading in a tight consolidation but the short term momentum seems to be in favor to the bears as price is making its way back to its 0.9410–0.9369 support area. However we have a short term resistance level at the 0.9526 price levels thus short term traders may take advantage of this 0.9526 resistance level to ride on the bears until price retest the 0.9410–0.9369 support area again.

AUDCADrH4

24th July 2015 Market Outlook

Pound Dollar – GBP/USD made a strong rejection near its 1.5680 resistance level. Traders may consider shorting this market for a short term trade. Market is undecided on which trend to head on the shorter time frame but it’s still slightly bullish on the longer time frame thus traders need to be more cautious when shorting this market. The next support level is at 1.5327 and if price fell off from this 1.5680 resistance level, we are then likely going to see it retest its 1.5327 support level in the coming weeks.

GBPUSDrDaily

 

Kiwi Dollar – Yesterday NZD/USD performed a strong rejection at its 0.6667 resistance level which may lead price lower in the coming days. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. There’s no key support level below thus traders may consider riding on this bearish trend with a trailing stop instead of setting profit targets to maximize the profit potential in this strong bearish trend.

NZDUSDrDaily

 

Aussie Dollar – AUD/USD fell through its support level this morning which now turns into resistance level. The overall trend is very bearish at the moment thus if price pullback to the 0.7334 resistance level, traders may then consider shorting this market to ride on the bearish trend. The next support level is not found until 0.7263 which offer traders decent profit margin to trade the short side.

AUDUSDrH4

23rd July 2015 Market Outlook

Silver – Silver is currently trading at its 14.70–14.38 key support area. Price seems to be undecided on which direction it wants to head yet but over the short term we might see price bounce away from the 14.70–14.38 key support area into its 15.62 resistance level before continue moving lower. Conservative traders are recommended to wait at the sideline until price breaks through the 14.70–14.38 key support area before shorting to ride on the bearish trend.

XAGUSDrDaily

 

Pound Kiwi – GBP/NZD is still in a strong bullish trend and is currently trading at the 2.3400 support level. If price rejects this level and the up slopping trend line, we are then likely going to see price rally higher from here and traders may consider buying into this market to ride on this strong bullish trend. There’s no key resistance level above current price thus there’s a huge profit margin for traders to trade on the bulls side.

GBPNZDrDaily

 

Aussie Swiss Franc – AUD/CHF looks bearish after rejecting the 0.7097 resistance level. Given that the overall trend is still bearish and also the first major pullback after the breakout, we could potentially see price fell lower after rejecting this 0.7097 resistance level. Traders may consider selling short at this 0.7097 resistance level with the first target at the 0.6949 support level.

AUDCHFrDaily

22nd July 2015 Market Outlook

Euro Dollar – EUR/USD rallied higher into its 1.0955 resistance level after rejecting the 1.0829 support level as we expected in our 20th July 2015 Market Outlook. Traders who went long at the 1.0829 support level may consider taking profits at the 1.0955 resistance level as it’s a counter trend trade. Given that the overall trend is still bearish, traders may consider shorting this market when price rejects the 1.0955 resistance level especially on the lower time frame. However if price breaks through the 1.0955 resistance level, we are then likely going to see price rally higher in the coming days.

EURUSDrDaily

 

Euro Pound – EUR/GBP is making its way back to its 0.7058 resistance level. Since the bears are still in control in this market, traders may consider shorting this market when price rejects the 0.7058 resistance level. There’s no immediate support level below which offer traders massive profit margin to trade the short side.

EURGBPrDaily

 

Japanese Yen – USD/JPY fell lower into its 123.66 support level after price hit the 124.43 resistance level as we expected in our 21st July 2015 Market Outlook. If price rejects the 123.66 support level especially on the lower time frames, traders may then consider buying at the 123.66 support level. On the other hand, if price breaks the 123.66 support level, we are then likely going to see price fell lower and may retest its 120.47 support level in the near term.

USDJPYrDaily

21st July 2015 Market Outlook

Silver – Silver fell lower into its 14.70 support level after price rejected the 15.62 resistance level as we expected in our 14th July 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at this 14.70 support level or scale out the position while trailing the stop to protect the profits. If price breaks the 14.70 support level, we are then likely going to see further decline in Silver in the coming days.

XAGUSDrDaily

 

Kiwi Dollar – NZD/USD is making its way back to the 0.6620 resistance level. Given that the overall trend is still bearish at the moment, traders may consider selling short at this resistance level. Ideally we would prefer to see price rejects this 0.6620 resistance level before shorting for a safer entry. Traders may also consider using lower time frame to spot for rejections before selling short.

NZDUSDrH4

 

Japanese Yen – USD/JPY is currently trading at its 124.43 resistance level. If price pullback to its 123.66 support level, traders may then consider buying into this market to jump on the bullish trend. There’s no immediate resistance level after the 124.43 resistance level thus if price rally through the 124.43 resistance level, we are then likely going to see price rally even higher in the coming days.

USDJPYrH4

20th July 2015 Market Outlook

Euro Dollar – EUR/USD is currently trading at the 1.0829 support level. We could potentially see price bounce back into its 1.0955 resistance level before continue to move lower. Since the overall trend is still bearish, conservative traders are recommended to wait at the sideline until price pullback to its 1.0955 resistance level and trade in line with the overall bearish trend while aggressive traders may consider buying at this 1.0829 support level for a short term bullish trade into the 1.0955 resistance level. If price breaks the 1.0829 support level, we are then likely going to see price continue to move lower in the coming days.

EURUSDrH4

 

Pound Swiss Franc – GBP/CHF rallied higher after price broke the 1.4800 resistance level as we expected in our 15th July 2015 Market Outlook. Traders who went long at this market may consider continue holding onto the long position as price is likely going to continue higher to its next resistance level at 1.5165 with a trailing stop behind to protect the profits.

GBPCHFrDaily

 

Aussie Kiwi – AUD/NZD had a strong drop this morning. We could potentially see this bearish move to continue lower as there is no immediate support level below current price thus traders may consider shorting this market. While if price pullback to the 1.1272 resistance level, traders would have a greater entry as it’s a new resistance level that was created this morning.

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