31st December 2015 Market Outlook

Kiwi Dollar – NZD/USD rally into our target at 0.6879 resistance level as we expected in our 1st December 2015 Market Outlook. Traders who went long as we recommended in our 19th November 2015 Market Outlook and at the breakout of 0.6641–0.6619 resistance area as we expected in our 1st December 2015 Market Outlook may consider taking profits at the 0.6879 resistance level. If price breaks the 0.6879 resistance level, we are then likely going to see price rally higher in the coming days.

NZDUSDrDaily

 

Gold – Gold fell lower after price rejected its 1078.50 resistance level as we expected in our 22nd December 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 is likely going to continue to move lower in the coming days.

XAUUSDrH4

 

Pound Yen – GBP/JPY is fell through its 179.29 support level which could potentially lead price lower in the coming weeks. Traders who went short at the breakout of 179.29 support level may consider continue holding onto the short position while traders who missed the breakout trade may consider look for potential shorting opportunities if price pullback to resistance level to ride on this bearish trend.

GBPJPYrDaily

30th December 2015 Market Outlook

Pound Dollar – GBP/USD fell lower after price rejected its 1.4906 resistance level as we expected in our 24th December 2015 Market Outlook. Traders who went short as we recommended may consider continue holding on the short position with a trailing stop behind as the overall trend is still bearish at the moment and price is likely going to continue to move lower.

GBPUSDrH4

 

Aussie Dollar – AUD/USD rally higher after price rejected its short term support level at 0.7247 as we expected in our 29th December 2015 Market Outlook. Traders who went long as we recommended may continue hold onto the long position. Price rejected the 0.7279 short term support level earlier today which could potentially push price higher into its 0.7334 resistance level in the coming days. Traders may consider buying into this market as price is likely going to continue to move higher.

AUDUSDrH1

 

Pound Aussie – GBP/AUD finally hit our target at 2.0350 support level after price rejected its 2.1130 resistance level as we expected in our 16th December 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at the support level or scale out the position at the 2.0350 support level while leaving the rest to run further.

GBPAUDrDaily

29th December 2015 Market Outlook

Pound Aussie – GBP/AUD consolidates after a strong decline due to holiday season. Traders who went short as we recommended in our 16th December 2015 Market Outlook may consider continue holding onto the short position as the trend is still bearish at the moment and price is likely going to continue to move lower into its 2.0350 support level.

GBPAUDrDaily

 

Euro Aussie – EUR/AUD consolidates and formed a triangle chart pattern at its 1.5199 resistance level yesterday which if price breaks below the triangle chart pattern, we could potentially see price decline lower into its 1.4445–1.4351 support area in the near term as the overall trend is still bearish. Traders may watch for potential breakout trades in this currency pair as price could potentially move in a strong fashion when the breakout occurs.

EURAUDrDaily

 

Aussie Dollar – AUD/USD rejected its short term support level at 0.7247 earlier today which could potentially push price higher into its 0.7279 resistance level today. This could be a short term trade for this holiday season as there isn’t much trading volume around in the market.

AUDUSDrH1

28th December 2015 Market Outlook

Kiwi Dollar – NZD/USD continue to surge higher although in a slower pace, price is still moving towards our target at 0.6879 resistance level. Traders who went long after price rejected its 0.6447–0.6401 support area as we recommended in our 19th November 2015 Market Outlook and at the breakout of 0.6641–0.6619 resistance area as we expected in our 1st December 2015 Market Outlook may consider continue holding onto the long position while trailing the stop behind until price hit the 0.6879 resistance level.

NZDUSDrDaily

 

Euro Dollar – EUR/USD rally higher after price rejects the 1.0850–1.0820 support area as we expected in our 18th December 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position while trailing the stop behind. Price isn’t likely going to rally in a strong fashion as we are in the end of the year and trading volume is low but we could still see price rally into its next resistance area at 1.1114–1.1090.

EURUSDrH4

 

Pound Yen – GBP/JPY is currently consolidating at the 179.29 support level. If price is able to breaks the 179.29 support level, we are then likely going to see a strong decline in this market as the overall trend is still bearish at the moment. Traders may consider shorting this market when price breaks the 179.29 support level to ride on the bearish trend.

GBPJPYrDaily

24th December 2015 Market Outlook

Pound Dollar – GBP/USD is currently trading just below its 1.4906 resistance level. If price rejects the 1.4906 resistance level, traders may then consider shorting this market as the overall trend is still bearish at the moment. If price breaks the 1.4906 resistance level, traders may still look for potential shorting opportunity at the 1.4954 resistance level.

GBPUSDrH4

 

Pound Loonie – GBP/CAD decline into its 2.0558 support level after price hit its 2.0950 resistance level as we expected in our 14th December 2015 Market Outlook. Traders who went short as we recommended may consider taking profits at the 2.0558 support level and also look for long setups at the 2.0558 support level to trade with the bullish trend.

GBPCADrDaily

 

Loonie Yen – CAD/JPY is approaching its 87.50 resistance level. Given that the overall trend is still bearish, traders may consider shorting this market at the 87.50 resistance level. Ideally we would prefer to see price rejects the 87.50 resistance level before shorting for a safer entry. Traders who went short at the 89.30–88.88 resistance area as we recommended in our 17th December 2015 Market Outlook may consider scale in the position as well to maximize the potential profits of this bearish trend.

CADJPYrH4

23rd December 2015 Market Outlook

Pound Yen – GBP/JPY decline into its 179.29 support level after price breaks the 180.90 support level as we expected in our 21st December 2015 Market Outlook. Traders who went short at the breakout of the 184.45–183.90 support area as we recommended in our 14th December 2015 Market Outlook may consider scale out the position at the 179.29 support level while leaving the rest of the position for potential further decline. If price is able to breaks the 179.29 support level, we would then have a huge profit potential to trade the down side as there’s no immediate support level until 175.76.

GBPJPYrDaily

 

Pound Aussie – GBP/AUD rejected its 2.1130 resistance level and decline lower as we expected in our 16th December 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 is likely going to continue to move lower into its 2.0350 support level.

GBPAUDrDaily

 

Euro Pound – EUR/GBP breakout above its 0.7340 resistance level yesterday which opened up the door for potential further rally in the coming days. Traders who went long as we recommended in our 9th December 2015 Market Outlook may consider continue holding onto the long position as price is likely going to rally higher into its next resistance level at 0.7482.

EURGBPrDaily

22nd December 2015 Market Outlook

Euro Pound – EUR/GBP hit our target yesterday at 0.7340 resistance level as we expected in our 9th December 2015 Market Outlook. Traders who went long as we recommended may consider taking partial profits at the 0.7340 resistance level. If price breaks the 0.7340 resistance level, we are then likely going to see price rally higher into its next resistance level at 0.7482.

EURGBPrDaily

 

Gold – Gold is currently trading at the 1078.50 resistance level which traders may consider looking for shorting opportunity at the lower time frame as the long term trend is still bearish, if price breaks the 1078.50 resistance level, traders may still look for potential shorting opportunity at the 1088.00–1085.50 resistance area. Ideally we would prefer to see price rejects the resistance level before shorting for a safer entry.

XAUUSDrH4

 

Euro Loonie – EUR/CAD breaks its 1.5154 resistance level yesterday which could potentially lead price higher in the coming days into its next resistance level at 1.5550. Given that the overall trend is still bullish, traders may also look for buying opportunity if price pullback to the 1.5154 support level (Previous resistance level).

EURCADrDaily

21st December 2015 Market Outlook

Loonie Yen – CAD/JPY fell significantly lower after price rejected its 89.30–88.88 resistance area as we expected in our 17th December 2015 Market Outlook. Traders who went short at the 89.30–88.88 resistance area may consider continue holding onto the short position while trailing the stop to lock in the profits as the trend is likely going to continue to move lower in the coming days. Traders who missed the shorting opportunity may look for resistance level to hunt for shorting opportunity especially the 87.50 resistance level.

CADJPYrDaily

 

Pound Yen – GBP/JPY move lower into its 180.90 support level as we expected in our 14th December 2015 Market Outlook. Traders who went short at the breakout of the 184.45–183.90 support area as we recommended may consider taking partial profits at the 180.90 support level to lock in the profits while leaving the rest for potential further decline. If price breaks the 180.90 support level, we are then likely going to see price decline into its next support level at 179.29.

GBPJPYrDaily

 

Euro Pound – EUR/GBP is slowly moving higher as we expected in our 9th December 2015 Market Outlook. Traders who went long as we recommended may consider tighten up the stops as the bullish momentum isn’t very strong at the moment however price could still potentially rally into its 0.7340 resistance level in the near term.

EURGBPrDaily

18th December 2015 Market Outlook

Aussie Dollar – AUD/USD fell through its 0.7158 support level yesterday which flipped the support level into a resistance level. The momentum is clearly bearish after price fell through the 0.7158 support level thus traders may consider looking for shorting opportunity at the 0.7158 resistance level to ride the bearish momentum. The next support level is not found until 0.7070 which offer traders decent profit margin to trade the short side.

AUDUSDrH4

 

Euro Dollar – EUR/USD is currently consolidating at the 1.0850–1.0820 support area. If price breaks this support area, we are then likely going to see price move lower in the coming days and may retest its 1.0520 support level in the coming weeks. On the other hand, if price bounce at this support area, we could potentially see price rally higher into its 1.1114–1.1090 resistance area.

EURUSDrH4

 

Euro Loonie – EUR/CAD is trading just below its 1.5154 resistance level and is struggling to make its decision on which side to move. If price breaks the 1.5154 resistance level, we are then likely going to see price rally higher into its next resistance level at 1.5500.

EURCADrDaily

17th December 2015 Market Outlook

Aussie Loonie – AUD/CAD shot up into its 0.9965 resistance level after price rejected its 0.9842 support level as we expected in our 16th December 2015 Market Outlook. Traders who went long at the 0.9842 support level may consider taking profits at the 0.9965 resistance level as we have a strong rejection at the 0.9965 resistance level which could cause price to pullback before continue to rally higher.

AUDCADrH4

 

Japanese Yen – USD/JPY rally higher after price rejected its 121.25–121.00 support area as we expected in our 10th December 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. Traders may have their first target set at the previous swing high at around 123.50 price level to lock in partial profits.

USDJPYrDaily

 

Loonie Yen – CAD/JPY fell through its 89.30–88.88 support area which opened up the door for potential further losses. The 89.30–88.88 support area have turned into resistance area which traders may hunt for shorting opportunities to trade with the overall bearish trend.

CADJPYrDaily