31st August 2015 Market Outlook

Silver – Silver is currently making its way back to the 14.74 resistance level. Traders who went short at the 15.62 resistance level as we recommended in our 17th August 2015 Market Outlook may consider scale in the position at this 14.74 short term resistance level as the bearish trend is likely going to continue to move lower. Traders who went short at the 15.62 resistance level should consider to scale out the position as we recommended in our 19th August 2015 Market Outlook to lock in the profits.

XAGUSDrH4

 

Pound Aussie – GBP/AUD pullback to its 2.1519 support level after a long stretch as we expected in our 27th August 2015 Market Outlook. Given that the overall trend is still very bullish, traders may consider buying into this market at the 2.1519 support level. Ideally, we would prefer to see some rejections or any other confirmations to take place at this 2.1519 support level before going long for a safer entry especially on the lower time frame. There’s no immediate resistance level above which offer traders great profit margin to trade the long side but traders may still treat the latest swing high as the first target to lock in some profits.

GBPAUDrDaily

 

Pound Dollar – We have had some significant decline in the GBP/USD over the last few trading days. Given that the strong bearish momentum we currently have in this market, traders may look for shorting opportunities in this market. If price pullback to the 1.5466–1.5450 resistance area, traders may then consider shorting this market. If price rejects the 1.5466–1.5450 resistance area, we are then likely going to see price decline further and may retest its 1.5327 support level in the next few days.

GBPUSDrH4

28th August 2015 Market Outlook

Gold – Gold had fell into its minor support level at the 1124.60 price level as we expected and there’s some small rejections taking place at this minor support level. Traders who shorted this market may consider scale out the position at the 1124.60 minor support level while leaving the rest to run further. As long as price remains below the 1163.00 resistance level, we remain bearish bias and if price close below the 1124.60 support level, it is then likely going to continue to move lower in the coming days.

XAUUSDrDaily

 

Euro Dollar – EUR/USD had pullback to its 1.1215–1.1130 support area which may offer traders buying opportunity to jump into this market. The market is still consolidating when looking at the longer term time frame charts but the short term momentum is still slightly bullish thus traders may consider looking for buying opportunities at this 1.1215–1.1130 support area. The next resistance level is at 1.1700 which offer traders massive profit margin to trade the long side.

EURUSDrH4

 

Loonie Yen – CAD/JPY is currently trading at its 92.00 resistance level. Given that the overall trend is still bearish, traders may consider shorting this market at this resistance level. If price rally through the 92.00 resistance level, traders may still look for shorting opportunities at the 94.10 resistance level to jump on this overall bearish trend.

CADJPYrDaily

27th August 2015 Market Outlook

Euro Kiwi – EUR/NZD rallied significantly higher after price breakout away from the 1.6800 resistance level as we expected in our 17th August 2015 Market Outlook. Price did pullback into its 1.6800 support level (Previous resistance level) which offer traders opportunity to buy into this market as well. Traders who went long as we recommended may consider scale out the position while trailing the stop behind. There’s a support level below current price at the 1.7265 support level. Traders may look for buying opportunity at this support level as well but due to the uncertainty in recent market condition. Traders may wait for price to rejects the 1.7265 support level or any other confirmation before buying for a safer entry.

EURNZDrDaily

 

Pound Aussie – GBP/AUD is still in a strong bullish trend and price is likely going to revert back to the mean after a strong surge to the upside. If price pullback to the 2.1519 support level, traders may then look for buying opportunity to jump on this bullish trend. Price is likely going to continue to move higher in the coming days and there’s no immediate resistance above but the last swing high may serve as the first target for long positions.

GBPAUDrH4

 

Aussie Kiwi – AUD/NZD had been very choppy recently. However the strong rejection of higher price which can be seen through the long rejection candle that formed on Monday could potentially drive price lower in the coming days. However traders may need some confirmation before shorting this market and if price breaks the 1.0890 support level, traders may then consider shorting this market as if price breaks the 1.0890 support level, we are then likely going to see price move lower into the 1.0578–1.0516 support area.

AUDNZDrDaily

26th August 2015 Market Outlook

Gold – Gold rallied into its 1163.00 resistance level and fell lower after price rejected the resistance level. Given that the overall trend is still bearish, we are likely going to see price continue to move lower thus traders may consider selling short in this market. The 1124.60 minor support level could serve as the first target for traders to lock in some profits but price is likely going to fall through it and could potentially retest its 1071.16 support level in the near future.

XAUUSDrDaily

 

Euro Pound – EUR/GBP seems to be rejected at the 0.7386 resistance level but the short term momentum is still very bullish at the moment therefore traders may consider buying into this market if price pullback into the 0.7223 support level. Ideally, we would prefer to see some rejections at this support level or any other confirmation before going long for a safer entry. If price breaks above the 0.7386 resistance level, traders may also look for buying opportunities as if price breaks the 0.7386 resistance level, it’s then likely going to rally higher into its 0.7482 resistance level.

EURGBPrDaily

 

Pound Yen – GBP/JPY rejected the 185.00–184.22 support area earlier today but due to the strength we see in Japanese Yen, traders need to be more cautious when looking for buying opportunity at the 185.00–184.22 support area but if price could break the 191.95–190.98 resistance area, it’s then likely going to rally towards its next resistance area at 195.82–195.18. On the other hand, if price breaks the 185.00–184.22 support area, we are then likely going to see price continue to move lower into its next support area at 175.76–174.84.

GBPJPYrDaily

25th August 2015 Market Outlook

Japanese Yen – USD/JPY continue to fell significantly lower as we expected in our 24th August 2015 Market Outlook. Price even fell through its 120.47 support level and could probably continue to move lower into its next key support level at 115.76. Traders who went short at the breakout of the triangle chart pattern as well as the 123.79 support level as we expected in our 19th August 2015 Market Outlook and 20th August 2015 Market Outlook may consider continue holding onto the short position while trailing the stops behind and look for potential scale in opportunity at the 120.47 resistance level (Previous support level). Traders who missed the huge selloff we recommended in the last few days may as well consider looking for potential shorting opportunity at the 120.47 resistance level to jump on this massive bearish momentum.

USDJPYrH4

 

Kiwi Yen – NZD/JPY also fell significantly lower into its 75.06–74.41 key support area after price breaks the 80.68–79.97 key support area as we expected in our 24th August 2015 Market Outlook. Traders who went short as we recommended may consider scale out the position at the 75.06–74.41 key support level while trailing the stops behind. If price pullback to the 80.68–79.97 resistance level (Previous support level), traders may then look for shorting opportunities especially on the lower time frame to short this market again.

NZDJPYrDaily

 

Euro Pound – EUR/GBP continue to rally higher into its 0.7386 resistance level as we expected in our 24th August 2015 Market Outlook. Traders who went long on the pullback at 0.7169–0.7160 support area as we recommended in our 21st August 2015 Market Outlook may consider scale out the position at the 0.7386 resistance level. If price breaks the 0.7386 resistance level, we are then likely going to see price rally higher into its next resistance level at 0.7482.

EURGBPrH4

24th August 2015 Market Outlook

Japanese Yen – USD/JPY fell significantly lower after price broke the 123.01 support level as we expected in our 21st August 2015 Market Outlook. Traders who went short at the breakout of the triangle chart pattern as well as the 123.79 support level as we expected in our 19th August 2015 Market Outlook and 20th August 2015 Market Outlook may consider continue holding onto the short position as price is likely going to continue to move lower into its next key support level at 120.47.

USDJPYrH4

 

Euro Pound – After EUR/GBP broke its 0.7169–0.7160 resistance area, price did pullback into its 0.7169–0.7160 support area (Previous resistance area) as we expected in our 21st August 2015 Market Outlook. Price did perform a rejections before rally higher which we can clearly see it on the hourly chart. Traders who went long at the 0.7169–0.7160 support area as we recommended on the 21st August 2015 Market Outlook may consider holding onto the long position as price had broke the 0.7223 resistance level which opened up the door for potential further gains in this market and the next key resistance is not found until 0.7386 which offer traders massive profits potential in this trade. Traders who went long as we recommended may consider trailing the stop behind while waiting for price to rally into its 0.7223 resistance level.

EURGBPrH1

 

Kiwi Yen – After 2 months of consolidation we see in NZD/JPY, price seems to start making some effort to break below its 80.68–79.97 key support area which could end this consolidation and could drive price significantly lower in the coming days. If price closed below the 80.68–79.97 key support area decisively, traders may then look for shorting opportunities in this market to jump on this strong bearish market.  The next key support area is at 75.06–74.41 which is extremely far away from current price thus there’s huge profit margin to trade the short side.

NZDJPYrDaily

21st August 2015 Market Outlook

Japanese Yen – USD/JPY fell significantly lower into its 123.01 support level after price breaks the the triangle chart pattern as well as the 123.79 support level as we expected in our 19th August 2015 Market Outlook and 20th August 2015 Market Outlook. Traders who went short as we recommended may once again consider taking partial profits at the 123.79 support level while trailing the stops to lock in the profits. If price breaks the 123.01 support level, we are then likely going to see price continue to move lower into its next key support level at 120.47.

USDJPYrH4

 

Euro Yen – EUR/JPY rally higher after price rejected its 137.32 support level as we expected in our 18th August 2015 Market Outlook and 20th August 2015 Market Outlook. Traders who went long at the 137.32 support level may consider holding onto the long position as price is likely going to rally higher into its 141.07–140.61 resistance area in the coming days. However price is currently trading at its first minor resistance level which is the recent swing high which may cause price to pause or pullback before rally higher thus conservative traders who have open long positions may consider taking partial profits off the table at the recent swing high but as long as price remains above 137.32 support level, we remain bullish bias and price is likely going to rally higher in the coming days.

EURJPYrDaily

 

Euro Pound – EUR/GBP broke its 0.7169–0.7160 resistance area this morning which opens up the door for potential further gains in this market. Given that the momentum had turned bullish after price broke the 0.7169–0.7160 resistance area, traders may consider buying into this market if price pullback to the 0.7169–0.7160 support area (Previous resistance area) as price is likely going to continue to rally higher into its next resistance level at 0.7223.

EURGBPrH4

20th August 2015 Market Outlook

Japanese Yen – USD/JPY fell significantly lower after price breaks the triangle chart pattern as we expected in our 19th August 2015 Market Outlook. Price seems to found support at the 123.79 support level. If price rejects this support level, we are then likely going to see price bounce off higher from here but if price breaks this support level, we are then likely going to see price continue to move lower in the coming days and may retest its 123.01 support level in the near term.

USDJPYrH4

 

Euro Yen – EUR/JPY rejected its 137.32 support level yesterday which shows that the bulls are still in this market. Given that the momentum is bullish at the moment after price breakout away from the consolidation, traders may consider buying into this market as the price is likely going to continue to rally higher in the near term. There’s no immediate resistance level above current price as the next resistance level is at 141.07–140.61 which offer traders decent profit margin to trade the long side.

EURJPYrDaily

 

Gold – Gold is making its way back to its 1143.00 resistance level. Since the overall trend is still bearish, traders may look for shorting opportunity at the 1143.00 resistance level. Ideally, we would prefer to see price rejects this resistance level or any other confirmation before shorting this market for a safer entry. As long as price remains below the 1143.00 and 1163.00 resistance level, we remains bearish bias and traders may consider looking for shorting opportunities around these two resistance levels to jump on this long term bearish trend.

XAUUSDrDaily

19th August 2015 Market Outlook

Silver – Silver rallied higher into the 15.62 resistance level and  fell back into its 14.70–14.38 key support area after price rejected the 15.62 resistance level as we expected in our 10th August 2015 Market Outlook and 17th August 2015 Market Outlook. Traders who went short at the 15.62 resistance level as we recommended may consider taking profits or at least scale out the position at the 14.70–14.38 key support area while leaving the rest to run further.

XAGUSDrDaily

 

Euro Pound – We have an interesting short term resistance level at 0.7063 in EUR/GBP which may offer traders some intraday trading opportunities especially in the London trading session. Traders may consider shorting this resistance level to ride on the short term bearish trend. Ideally, we would prefer to see some rejection to take place at this resistance level or any other confirmation before shorting for a safer entry. If price rejects the 0.7063 resistance level, we are then likely going to see price retest its 0.7023 within a short period of time.

EURGBPrH1

 

Japanese Yen – USD/JPY is consolidating at the moment and had formed a triangle chart pattern which if price breakout may lead to potential significant move in either way but given that the overall trend is still bullish, it’s safer to trade bullish breakout instead of bearish breakout but aggressive traders may still consider shorting this market as the next support level is still far from current price but need to be more cautious in placing stops and profit targets as the overall trend is still bullish at the moment.

USDJPYrH4

18th August 2015 Market Outlook

Pound Dollar – GBP/USD surge higher into its 1.5680 resistance level after price pullback and rejected the 1.5536 support level as we expected in our 11th August 2015 Market Outlook. Traders who went long as we recommended may want to take profits at the 1.5680 as we suggested in our 13th August 2015 Market Outlook. Price also performed a rejection at the 1.5680 resistance level which shows that the bears are still in this market. Since the trading range is still in place, traders may consider shorting this market as price is likely going to move back lower into its 1.5536 support level in the near term and if price is able to break the 1.5536 support level, price is then likely going to continue decline lower into its next support level at 1.5450.

GBPUSDrH4

 

Euro Yen – EUR/JPY is making its way back to its 137.25 support level. The momentum is bullish at the moment after the breakout of the consolidation thus traders may consider buying into this market when price pullback to the 137.25 support level to ride on the bullish momentum. If price bounce off away from this 137.25 support level, we are then likely going to see price rally higher into the 141.07–140.61 resistance level in the coming days.

EURJPYrDaily

 

Euro Loonie – EUR/CAD is still in a strong bullish trend overall and if price pullback to the 1.4444 support level, traders may then consider buying into this market as the overall trend is likely going to continue higher and 1.4444 support level offer traders a good spot to hunt for buying opportunities. The 1.4610 resistance level which is the recent swing high may serve as the first target for traders to take profits.

EURCADrH4