30th October 2015 Market Outlook

Pound Loonie – GBP/CAD fell lower into its 2.0080–2.0000 key support area or psychological level after price rejected its 2.0399–2.0328 resistance area as we expected in our 28th October 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at the 2.0080–2.0000 key support area or psychological level as price may bounce back into its 2.0399–2.0328 resistance area. Traders may consider buying into this market as we are at a key support area and the 2.0399–2.0328 resistance area may serve as a first target for long positions.

GBPCADrH4

 

Euro Dollar – EUR/USD is approaching its 1.1013 resistance level. Given that the momentum is still bearish at the moment, traders may consider shorting this market if price rejects the 1.1013 resistance level. Traders who went short at the 1.1114–1.1090 resistance area as we recommended in our 27th October 2015 Market Outlook may also consider scaling in the position at the 1.1013 resistance level to maximize the potential profits from this bearish momentum.

EURUSDrH4

 

Aussie Loonie – AUD/CAD cut through its 0.9362 support level which opened up the door for potential further losses in the coming days. Traders may consider shorting this market if price pullback to the 0.9362 resistance level (Previous support level) to ride on this strong bearish momentum. Ideally we would prefer to see price rejects the 0.9362 resistance level or any other confirmation before shorting for a safer entry. The next support level is not found until 0.9250 which offer traders decent profit margin to trade the short side.

AUDCADrH4

29th October 2015 Market Outlook

Euro Dollar – EUR/USD fell significantly lower after price rejected the 1.1114–1.1090 resistance area as we expected in our 27th October 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price had fell through its 1.1013 support level and there’s no immediate support level until 1.0850. Traders who missed the shorting opportunity at the 1.1114–1.1090 resistance area may consider shorting this market when price pullback and rejects the resistance level to ride on this bearish trend.

EURUSDrH4

 

Aussie Loonie – AUD/CAD continue to fell lower into its 0.9362 support level after price rejected its 0.9578 resistance level as we expected in our 28th October 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at this 0.9362 support level as price may bounce before continue to move lower. If price breaks the 0.9362 support level, traders may then consider shorting this market again as if price breaks the 0.9362 support level, it is then likely going to retest its 0.9250 support level in the near term.

AUDCADrH4

 

Silver – Silver shot up into our first target at 16.16 resistance level as we expected in our 26th October 2015 Market Outlook. Traders who went long as we recommended may consider taking partial profits off the table at the 16.16 resistance level to lock in the profits. If price is able to close above the 16.16 resistance level, we are then likely going to see price rally into its next resistance level at 16.46.

AUDCADrH4

28th October 2015 Market Outlook

Euro Pound – EUR/GBP is sitting at the 0.7195–0.7160 support area which price could either bounce higher or breaks lower. If price rejects this support area, traders may look for buying opportunity to trade it back up to the 0.7356–0.7339 resistance area while a break below the 0.7195–0.7160 support area could potentially lead price even lower into its next support level area at 0.6950–0.6934.

EURGBPrDaily

 

Aussie Loonie – AUD/CAD fell lower after price rejected its 0.9578 resistance level this morning. Price is likely going to continue its decline and may retest its 0.9362 support level in the near term thus traders may consider shorting this market until price hit the 0.9362 support level.

AUDCADrH4

 

Pound Loonie – GBP/CAD is currently trading at its 2.0399–2.0328 resistance area. If price rejects this resistance area, traders may then consider shorting this market as the 2.0080–2.0000 key support area or psychological level could act as a magnet to attract price to it. On the other hand, if price breaks through the 2.0399–2.0328 resistance area, we are then likely going to see price continue to rally higher into its next resistance level at 2.0558.

GBPCADrH4

27th October 2015 Market Outlook

Euro Dollar – EUR/USD bounce higher after price rejected the 1.1013 support level as we expected in our 26th October 2015 Market Outlook. Traders who went long at the 1.1013 support level for a counter trend trade may consider taking profits when price pullback to the 1.1114–1.1090 resistance area. Traders may look for shorting opportunities if price rejects the 1.1114–1.1090 resistance area to ride on the bearish trend.

EURUSDrH4

 

Pound Dollar – GBP/USD did not rally higher after price rejected its 1.5388–1.5370 support area but fell through the support area which had now turned into resistance area. The short term momentum had turned bearish after price breaks the 1.5388–1.5370 support area thus traders may consider looking for shorting opportunities at the 1.5388–1.5370 resistance area (Previous support area). There is no immediate support level until 1.5200 which offer traders massive profit margin to trade the short side.

GBPUSDrH4

 

Aussie Kiwi – AUD/NZD rejected its 1.0578–1.0516 support area which could potentially cause price to bounce before continue to decline lower. If price bounce at the 1.0578–1.0516 support area, we are then likely going to see price rally into its 1.0932–1.0890 resistance area which traders may consider looking for shorting opportunities to ride on the bearish momentum. On the other hand, aggressive traders may consider buying into this market for a short term counter trend trade with the anticipation of price pullback to the 1.0932–1.0890 resistance area.

AUDNZDrDaily

26th October 2015 Market Outlook

Euro Dollar – EUR/USD continue to decline lower after price breaks the 1.1114–1.1090 support area as we expected in our 23rd October 2015 Market Outlook. The selloff started at the break of 1.1315–1.1294 support area which occurred on last Thursday. Price is currently trading at its 1.1013 support level which could potentially cause price to bounce a little before continue to move lower. If price bounce at the 1.1013 support level, we are then likely going to see price pullback to its 1.1114–1.1090 resistance area (Previous support area) which traders may then look for shorting opportunities to ride on the bearish momentum. On the other hand, if price breaks the 1.1114–1.1090 support area, we are then likely going to see price continue to move lower into its next support level at 1.0850 which offer trades massive profit margin to trade the short side.

EURUSDrH4

 

Silver – Silver pullback and rejected its 15.62–15.40 support area as we expected in our 20th October 2015 Market Outlook. Traders who bought into this market when price rejects the 15.62–15.40 support area may consider continue holding onto the long position as price may continue to rally higher. Traders may have their first target set at the 16.16 resistance level which could help traders to lock in profits. A break above the 16.16 resistance level could potentially lead price even higher in the coming days.

XAGUSDrH4

 

Aussie Yen – AUD/JPY performed a false break at the bottom of the triangle chart pattern before rally through its 87.33 resistance level. Given that the short term momentum is bullish, we are more likely going to see price continue to rally higher and may retest its 89.33 resistance level in the near term. Traders may consider buying into this market or wait for price to pullback to the 87.33 support level (Previous resistance level) to ride on the bullish momentum.

AUDJPYrH4

23rd October 2015 Market Outlook

Pound Aussie – GBP/AUD pullback to its 2.1519–2.1353 resistance area and rejected it as we expected in our 16th October 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower and may retest its 2.0889 support level in the near term. Traders who missed the shorting opportunity may still look for short setup as we are still early in the potential bearish swing.

GBPAUDrDaily

 

Pound Dollar – GBP/USD pullback to its 1.5388–1.5370 support area as we expected in our 15th October 2015 Market Outlook. Since the short term trend is still bullish, traders may consider buying into this support area for a short term trade. The next resistance level is not found until 1.5505 which offer traders huge profit margin to trade the long side.

GBPUSDrH4

 

Euro Dollar – EUR/USD fell significantly lower into its next 1.1114–1.1090 support area after price breaks the 1.1315–1.1294 support area. After the wild decline yesterday, price is stalling at the 1.1114–1.1090 support area which could either hold or break. If this level holds and price bounce off away from this level, we are then likely going to see price rally back into its 1.1315–1.1294 resistance area (Previous support area) while a break below the 1.1114–1.1090 support area will open up the door for potential further losses in the coming days.

EURUSDrH4

22nd October 2015 Market Outlook

Loonie Dollar – USD/CAD rallied higher after price rejected its 1.2830–1.2780 key support area as we expected in our 19th October 2015 Market Outlook. Traders who went long at the 1.2830–1.2780 key support area as we recommended may consider continue holding onto the long position as the overall trend is still bullish and price is likely going to continue to rally higher. Traders may have a trailing stop behind to trail the stop to lock in the profits.

USDCADrDaily

 

Euro Loonie – EUR/CAD has been testing the 1.4617–1.4482 support area for quite a few times over the last few weeks after we discussed about the 1.4617–1.4482 support area in our 7th September 2015 Market Outlook. As long as price remains above the 1.4617–1.4482 support area we remain bullish bias as the overall trend is still bullish and traders may look for buying opportunities to ride on the bullish trend.

EURCADrDaily

 

Loonie Yen – CAD/JPY had breakout lower from its tight consolidation marked with yellow rectangle. Since the long term trend is still bearish, traders may consider shorting this currency pair as price could potential decline lower after the breakout. The next support level is not found until 89.30–88.88 which offer traders decent profit margin to trade the short side.

CADJPYrH4

21st October 2015 Market Outlook

Gold – Gold pullback into its 1169.00 support level and bounce higher as we expected in our 16th October 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position as the momentum is still bullish at the moment and there isn’t any immediate resistance level until 1205.00 which offer traders massive profit margin to trade the long side. Traders may consider taking partial profits when price hit the previous swing high at around 1190.00 to lock in some profits while leaving the rest to run further with a trailing stop behind to avoid giving back all the profits to the market.

XAUUSDrH4

 

Euro Pound – EUR/GBP performed a false break at the 0.7356–0.7339 support area which could potentially lead price higher in the coming days as the short term momentum is bullish at the moment. Traders may consider buying into this market if price breaks Monday’s high. It serves as a confirmation for traders before buying to avoid buying into false signals.

EURGBPrDaily

 

Aussie Kiwi – We have a long bullish bar on AUD/NZD yesterday which could potentially cause price to pullback into its previous resistance area at 1.0932–1.0890. Aggressive traders may consider buying into this market for a short term counter trend trade while conservative traders are recommended to wait for price to pullback to the 1.0932–1.0890 resistance area before shorting to ride on the bearish momentum.

AUDNZDrDaily

20th October 2015 Market Outlook

Silver – Silver is making its way back into the 15.62–15.40 support area. Given that the momentum is still bullish, traders may consider buying into this market if price rejects the 15.62–15.40 support area. If price bounce off away from this support area, we are then likely going to see price continue to rally higher and makes new high in the coming days.

XAGUSDrH4

 

Aussie Yen – AUD/JPY is consolidating and formed a triangle chart pattern just below the 87.33 resistance level. Price could move either way but if price breaks the lower end of the triangle, price is then likely going to continue to move lower into its next support level at 84.98 while if price is able to breakout above the 87.33 resistance level, we are then likely going to see price test its 89.33 resistance level in the near term.

AUDJPYrH4

 

Pound Kiwi – GBP/NZD is currently trading at the 2.2452 support level. Since the overall long term trend is still bullish, traders may consider buying into this market as price may retest its 2.3400 resistance level in the near term. On the other hand, if price breaks the 2.2452 support level we are then likely going to see price decline lower into its next support level at 2.0931.

GBPNZDrDaily

19th October 2015 Market Outlook

Aussie Kiwi – AUD/NZD fell significantly lower after price broke the 1.0932–1.0890 support area as we expected in our 6th October 2015 Market Outlook. Given that the momentum had turned bearish after price broke the 1.0932–1.0890 support area, we are likely going to see price continue to move lower into its next support area at 1.0578–1.0516. Traders may consider following the momentum by shorting the market or buy into this market when price hit the 1.0578–1.0516 support area.

AUDNZDrDaily

 

Loonie Dollar – USD/CAD rejected its 1.2830–1.2780 key support area on last Friday showing that the bulls are still in the market. Given that the overall trend is still bullish, traders may consider buying into this market to jump on the overall bullish trend. As long as price remains above the 1.2830–1.2780 key support area, we remain bullish bias and if price breaks the 1.2830–1.2780 key support area, we are then likely going to see price decline lower and it could also be a start of a new bearish trend.

USDCADrDaily

 

Euro Dollar – EUR/USD did not rally higher after it breaks through the 1.1458 resistance level but instead it performed a false break at the resistance level and fell lower. Price is approaching its 1.1315–1.1294 support area which traders may look for buying opportunity. Ideally we would prefer to see price rejects the 1.1315–1.1294 support area or any other confirmation before buying into this market for a safer entry.

EURUSDrH4