30th September 2015 Market Outlook

Pound Dollar – GBP/USD is approaching its 1.5115 support level which could cause some bumps in the market. Aggressive traders may consider taking a short term buy trade here as we might see some bounce before price decline lower. Buying at the 1.5115 support level would be countering the recent bearish momentum thus conservative traders are recommended to wait for price to pullback to its 1.5337 resistance level before shorting to ride on the bearish momentum. A break below the 1.5115 support level could potentially cause price to decline even lower as the next support level is quite far which is located at 1.4983.

GBPUSDrH4

 

Loonie Dollar – USD/CAD had breakout above its 1.3350–1.3325 resistance area which could lead price higher in the coming days. Given that the overall trend is still bullish, traders may consider buying into this market when price pullback to the 1.3350–1.3325 support area (Previous resistance area) to ride on the bullish trend. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side.

USDCADrH4

 

Euro Pound – We have a decent support area in EUR/GBP at 0.7356–0.7339 which could offer traders buying opportunities. However given that the market is ranging, traders are recommended to wait for price to rejects the 0.7356–0.7339 support area or any other confirmation before going long for a safer entry.

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29th September 2015 Market Outlook

Aussie Yen – AUD/JPY continue to fell lower after price rejected its 87.33 resistance level as we expected in our 22nd September 2015 Market Outlook. Traders who went short as we recommended may consider holding onto the short position and move the stop to the previous swing high at around 85.10. Price is likely going to continue to move lower and may retest its 82.00 support level in the near term.

AUDJPYrH4

 

Pound Yen – GBP/JPY fell lower into the 180.90 support level after price rejected the 184.22 resistance level as we expected in our 24th September 2015 Market Outlook and 28th September 2015 Market Outlook. Since price have hit our first target, traders may consider scale out the position to bank in some profits while leaving the rest for potential further run with a trailing stop behind. If price breaks the 180.90 support level, we are then likely going to see price retest its 179.29 support level in the near term.

GBPJPYrH4

 

Silver – Silver breaks lower yesterday which turned the short term momentum from bullish into bearish as we now have lower high and lower low. If price pullback to the 14.72 resistance level, traders may then consider shorting this market to jump on the bearish momentum. There’s no immediate support level below which offer traders decent profit margin to trade the short side.

XAGUSDrH4

28th September 2015 Market Outlook

Pound Yen – GBP/JPY fell lower after price rejected the 184.22 resistance level as we expected in our 24th September 2015 Market Outlook. Given that the trend is still bearish, traders who went short as we recommended may consider continue holding onto the short position while trailing the stop behind to lock in the profit. Price is likely going to continue to move lower and may retest its 180.90 support level in the near term. The 180.90 support level may serve as the first target for short sellers to lock in profits.

GBPJPYrH4

 

Gold – Gold pullback to the 1140.00 support level and rejected the support level on last Friday which shows that the bulls are still in this market. Although the long term trend is still bearish, the short term momentum is clearly bullish at the moment thus traders who went long at the 1140.00 support level as we recommended in our 25th September 2015 Market Outlook may consider holding onto the long position. The next resistance level is not found until 1169.00 which offer traders huge profit margin to trade the long side.

XAUUSDrH4

 

Kiwi Dollar – NZD/USD is trading in a trading range on the short term time frame. Price bounce off the 0.6244 support level shows that the short term bulls are buying into this market. Aggressive traders may consider buying into this market at support level for a short term trade while conservative traders may wait for price to pullback to 0.6454 resistance level before shorting to ride on the overall bearish trend.

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25th September 2015 Market Outlook

Gold – Gold breakout above the 1140.00 resistance level which opened up the door for potential further upside movement in the coming days. Given that the short term momentum had turned bullish after the breakout of the 1140.00 resistance level, traders may now consider buying into this market when price pullback to the 1140.00 support level (Previous resistance level) to ride on the bullish momentum. The next resistance level is not found until 1169.00 which offer traders huge profit margin to trade the upside.

XAUUSDrH4

 

Euro Pound – EUR/GBP shot up into our target at the 0.7386 resistance level after price performed a false break at the 0.7223 support level as we expected in our 23rd September 2015 Market Outlook. Traders who went long as we recommended may consider taking profits at the 0.7386 resistance level as price rejected this resistance level yesterday which could potentially cause price to pullback before rally higher. Traders may also consider shorting this market as the market is still trading within the range of 0.7223 support level and 0.7386 resistance level.

EURGBPrDaily

 

Aussie Loonie – AUD/CAD fell lower after price breaks below the 0.9410 price level as we expected in our 22nd September 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as the overall trend is still bearish. However we have a rejection yesterday which may cause price to rally thus traders are recommended to trail the stop as price move lower to lock in the profits.

AUDCADrDaily

24th September 2015 Market Outlook

Euro Pound – EUR/GBP shot up significantly higher after price performed a false break at the 0.7223 support level as we expected in our 23rd September 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position and may set the first target at the 0.7386 resistance level. Price is likely going to continue to trade within the range of 0.7223 support level and 0.7386 resistance level in the near term but if price breaks through the 0.7386 resistance level, we are then likely going to see price rally higher into its next resistance level at 0.7482 which may serve as the second target for the long position.

EURGBPrDaily

 

Loonie Dollar – USD/CAD rallied higher into its previous swing high at 1.3325 as we expected in our 21st September 2015 Market Outlook after price performed a strong rejection at the 1.3025 support level. Traders who went long as we recommended may consider scale out the position at the 1.3350–1.3325 resistance area while leaving the rest for potential further rally. We may have some minor pullback before price breaks the 1.3350–1.3325 resistance area thus traders may look for buying opportunities to ride on this bullish trend.

USDCADrH4

 

Pound Yen – GBP/JPY broke the 184.22 support level earlier this week which opened up the door for potential further losses in the coming days. Given that the trend is bearish at the moment, traders may consider shorting this market when price pullback to the 184.22 resistance level (Previous support level). Ideally we would prefer to see price rejects the 184.22 resistance level or any other confirmation before shorting for a safer entry. If price rejects the 184.22 resistance level, we are then likely going to see price move lower into its 180.90 support level in the coming days.

GBPJPYrH4

23rd September 2015 Market Outlook

Aussie Yen – AUD/JPY fell lower after price rejected its 87.33 resistance level as we expected in our 22nd September 2015 Market Outlook. Traders who went short as we recommended may consider holding onto the short position while trailing the stop behind to lock in the profits. Price is likely going to continue to move lower and may retest its 82.00 support level in the near term.

AUDJPYrH4

 

Euro Yen – EUR/JPY fell lower after price rejected the 137.08 resistance level as we expected in our 15th September 2015 Market Outlook. Traders who went short as we recommended may consider take profits or scale out the position at the 133.73–133.04 support area while leaving the rest to run further. If price breaks the 133.73–133.04 support area, we are then likely going to see price continue to move lower into its next support level at 131.27.

EURJPYrDaily

 

Euro Pound – EUR/GBP fell through its 0.7223 support level on Monday but price snaps back up higher the next day which leave a false break at the 0.7223 support level. Given that we are in a ranging market, traders may consider buying into this 0.7223 support level. If price bounce off away from this support level, we are then likely going to see price continue to move higher into its next resistance level at 0.7386.

EURGBPrDaily

22nd September 2015 Market Outlook

Pound Aussie – GBP/AUD rallied higher after price rejected its 2.1519 support level as we expected in our 17th September 2015 Market Outlook. Traders who went long at the 2.1519 support level as we recommended may consider holding onto the long position and may scale out the position once price hit the last swing high at around 2.2100. If price breaks through the 2.2100 swing high, we are then likely going to see price rally higher into its 2.2400 resistance level.

GBPAUDrDaily

 

Aussie Yen – Last week AUD/JPY rejected its 87.33 resistance level which could potentially lead price lower in the coming days. Given that the overall trend is still bearish, traders may consider shorting this market to ride on this bearish trend. The next support level is not found until 82.00 which offer traders massive profit margin to trade the short side.

AUDJPYrH4

 

Aussie Loonie – AUD/CAD had been consolidating within the 0.9493–0.9410 resistance area in the past few trading days. Traders may consider shorting this market as the overall trend is still bearish. Ideally, we would like to see price breaks below the 0.9410 price level before shorting as that would serve as a confirmation to avoid any false signals. On the other hand, if price breaks above the recent swing high, we are then likely going to see price continue to move higher into its next resistance level at 0.9748.

AUDCADrDaily

21st September 2015 Market Outlook

Pound Dollar – GBP/USD is making its way back into its 1.5470–1.5455 support area. The short term momentum is bullish after price breakout above the previous 1.5470–1.5455 resistance area thus if price pullback into the 1.5470–1.5455 support area, traders may then consider buying into this market. Ideally we would prefer to see some rejections at this support area or any other confirmation before going long for a safer entry. If price bounce off at this 1.5470–1.5455 support area, we are then likely going to see price rally higher in the coming days.

GBPUSDrH4

 

Aussie Kiwi – AUD/NZD is trading within a wide trading range. The 1.0932–1.0890 support area and the 1.1425–1.1397 resistance area serve as a floor and ceiling for this trading range. Price is approaching the 1.1425–1.1397 resistance area which traders may look for shorting opportunities to short this market. However traders need to be cautious that the overall trend is still bullish thus it may be riskier to goes short. For conservative traders, the 1.0932–1.0890 support area may offer some nice buying opportunities to trade with the trend.

AUDNZDrDaily

 

Loonie Dollar – USD/CAD performed a strong rejection at the 1.3025 support level on last Friday which shows that the bulls are in this market. Given that the overall trend is still bullish, traders may consider buying into this market as price is likely going to continue to move higher in the coming days. Traders may consider having the first target at the recent swing high at 1.3025.

USDCADrH4

 

18th September 2015 Market Outlook

Euro Dollar – EUR/USD continues to surge higher and is making higher high and higher low after price fails to break its 1.1215–1.1130 support area as we expected in our 8th September 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position while trailing the stop behind. Price is likely going to continue to move higher and may retest its next resistance level at 1.1700 in the near term.

EURUSDrDaily

Aussie Dollar – AUD/USD rejected its 0.7240 resistance level yesterday. Given that the overall trend is still bearish, traders may consider shorting this market at this 0.7240 resistance level to jump on this bearish trend. Price is likely going to continue to move lower in the coming days. The next support level is not found until 0.6910 which offer traders decent profit margin to trade the short side.

AUDUSDrDaily

Silver – Silver breakout above its 14.94 resistance level which could potentially results in further gains in the coming days. Given that the momentum is bullish, traders may consider buying into this market when price pullback to the 14.94 support level (Previous resistance level). The next resistance level is at 15.62 which offer traders huge profit margin to trade the long side.

XAGUSDrH4

17th September 2015 Market Outlook

Norwegian Krone – USD/NOK fell lower after price rejected the 8.2208 resistance level as we expected in our 16th September 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position while trailing the stop behind as price is likely going to continue to move lower into its next support level at 8.0777. Traders may take partial profits at the latest swing low at 8.1200 as we recommended yesterday to lock in profits as well. If price breaks the 8.0777 support level, we will see more downside movements in the coming days.

USDNOKrH4

 

Silver – Silver is currently trading below the 14.94 resistance level. If price is able to breakout above this resistance level, we are then likely going to see price rally higher into the next resistance level at 15.62. Traders may consider buying into this market when price breakout above the 14.94 resistance level while if price rejects the 14.94 resistance level, price could get pushed lower in the coming days.

XAGUSDrH4

 

Pound Aussie – GBP/AUD once again pullback and rejects its 2.1519 support level yesterday which could bring another rally into this market. Given that the overall trend is still bullish, traders may consider buying into this market. However if price breaks the 2.1519 support level, traders may consider shorting this market for a quick short term counter trend trade as if price breaks the 2.1519 support level, it’s then likely going to continue to move lower into its next support level at 2.0889.

GBPAUDrDaily