29th January 2016 Market Outlook

Aussie Dollar – AUD/USD pullback into its 0.7097 resistance level yesterday and rejected it. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. Ideally we would prefer to see price rejects the 0.7097 resistance level before shorting for a safer entry point.

AUDUSDrDaily

 

Aussie Yen – AUD/JPY breaks through its 83.37 resistance level and rally into its 86.18 resistance level. Price could potentially pullback to its 83.37 support level (Previous resistance level) before rally higher thus traders may consider shorting this market at the 86.18 resistance level and have the first target set at 83.37 support level.

AUDJPYrDaily

 

Pound Kiwi – GBP/NZD is consolidating and formed a triangle chart pattern. Since the overall trend is still bearish and price rejected the 2.2452 resistance level a few weeks ago, traders may consider shorting this market when price breaks below the triangle chart pattern to ride on the bearish trend.

GBPNZDrDaily

28th January 2016 Market Outlook

Pound Loonie – GBP/CAD continue to move lower after price rejected its 2.0359 resistance level. Traders who went short as we recommended may consider continue holding onto the short position while traders who missed the shorting opportunity may consider short this market when price pullback to its 2.0155 resistance level to ride on the bearish trend.

GBPCADrH4

 

Euro Yen – EUR/JPY pullback to its 129.80 resistance level after price rejected its 126.28 support level. Traders may consider shorting this market if price rejects the 129.80 resistance level as the overall trend is still bearish at the moment.

EURJPYrDaily

 

Euro Dollar – EUR/USD is consolidating at the moment and formed a triangle chart pattern, if price breakout away from the triangle, traders may then consider shorting the market to ride the bearish trend. On the other hand, if price breakout above the triangle chart pattern, we could potentially see price rally higher in the coming days but the rally could potentially be limited to 1.1114 resistance level.

EURUSDrDaily

27th January 2016 Market Outlook

Gold – Gold breakout above its 1111.70 resistance level yesterday which opened up the door for potential further rally in the coming days. Traders who went long at the pullback of 1082.00–1079.00 support area as we recommended in our 13th January 2016 Market Outlook may consider continue holding onto the long position while traders who missed the long opportunity may consider buying into the market when price pullback to the 1111.70 support level (Previous support level).

XAUUSDrDaily

 

Pound Loonie – GBP/CAD pullback into its 2.0359 resistance level and fell lower as we expected in our 22nd January 2016 Market Outlook. Traders who went long as we recommended may continue hold onto the short position with a trailing stop behind as price is likely going to continue to move lower in the coming days.

GBPCADrH4

 

Euro Aussie – EUR/AUD once again pullback into its 1.5330 support level which traders may hunt for buying opportunity. The short term trend is still bullish at the moment thus traders would have higher probability trading the long side.

EURAUDrDaily

26th January 2016 Market Outlook

Gold – Gold rally into its 1111.70 resistance level as we expected in our 14th January 2016 Market Outlook after price pullback into its 1082.00–1079.00 support area and rejected it as we expected in our 13th January 2016 Market Outlook. Traders who went long as we recommended may consider taking partial profits at the 1111.70 resistance level while leaving the rest to run further with a trailing stop behind. If price is able to breaks the 1111.70 resistance level, we are then likely going to see price rally higher in the coming days.

XAUUSDrDaily

 

Loonie Dollar – USD/CAD pullback into its 1.4137 support level and rejected it yesterday which could potentially push price higher in the coming days. Given that the overall trend is still bullish at the moment, traders may consider buying into this market to ride on this bullish trend.

USDCADrDaily

 

Aussie Yen – AUD/JPY once again pullback into its 82.97 key resistance level and rejected it yesterday. Since the overall trend is still bearish, traders may consider shorting this market. The AUD/USD is weak at the moment which increase the odds of this shorting opportunity.

AUDJPYrDaily

22nd January 2016 Market Outlook

Aussie Dollar – AUD/USD pullback into its 0.7023 resistance level earlier today and rejected it. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. Traders may have their first target set at the last swing low at around 0.6830 price level.

AUDUSDrDaily

 

Euro Yen – EUR/JPY rejected its 126.28 support level yesterday which could potentially push price back into its 129.80 resistance level. Since the trend is still bearish, conservative traders are recommended to short this market when price to pullback into its 129.80 resistance level to ride on the bearish trend while aggressive traders may consider taking a short term counter trend trade at this 126.28 support level and have their target near the 129.80 resistance level.

EURJPYrDaily

 

Pound Loonie – GBP/CAD fell through its 2.0359 support level which opened up the door for potential further losses in this market. Traders may hunt for shorting opportunity when price pullback into its 2.0359 resistance level (Previous support level). There is no significant support level below until 1.9894 and 2.0000 (Big Round Number) which offer traders massive profit margin to trade the short side.

GBPCADrDaily

20th January 2016 Market Outlook

Aussie Yen – AUD/JPY pullback into its 82.97–82.15 resistance area yesterday and fell lower as we expected in our 19th January 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position while having the first target set at the 79.60 support level to lock in profits.

AUDJPYrDaily

 

Euro Pound – EUR/GBP continue to makes higher high and breakout above its 0.7690 resistance level recently which had now turned into a support level where traders may look for potential buying opportunity when price pullback to the 0.7690 support level (Previous resistance level) to ride on the bullish trend.

EURGBPrH4

 

Kiwi Dollar – NZD/USD is trying to break its 0.6447–0.6401 support area. If price is able to cut through this support area, we are then likely going to see price continue to move lower into its next support level at 0.6244. Traders may consider looking for shorting opportunity to ride on this bearish trend.

NZDUSDrDaily

19th January 2016 Market Outlook

Aussie Loonie – AUD/CAD rallied into our target at 1.0077 resistance level after price rejected its 0.9845 support level as we expected in our 8th January 2016 Market Outlook. Traders who went long as we recommended may consider taking profits at the 1.0077 resistance level as price could potentially pullback before continue to move higher.

AUDCADrDaily

 

Kiwi Yen – NZD/JPY fell into its 75.06–74.41 support area after price breakout from its 79.84–79.42 support area. Given that the overall trend is still bearish, traders may consider shorting this market if price pullback to resistance level or short at the breakout of 75.06–74.41 support area.

NZDJPYrDaily

 

Aussie Yen – We could see AUD/JPY is trying to bounce at the 79.60 support level which could potentially send price back into the 82.97–82.15 resistance area where traders may hunt for potential shorting opportunity to ride on the bearish trend and the 79.60 support level may serve as the first target for traders to take profits.

AUDJPYrDaily

18th January 2016 Market Outlook

Kiwi Dollar – NZD/USD continue to move lower into its 0.6447–0.6401 support area after price breaks its 0.6619–0.6590 support area as we expected in our 7th January 2016 Market Outlook. Traders who went short as we recommended may consider taking profits at the 0.6619–0.6590 support area as price had rejected the support area on last Friday which could potentially cause price to rally higher before continue to move lower.

NZDUSDrDaily

 

Japanese Yen – USD/JPY pullback to its 117.31 resistance level and rejected it which could potentially offer traders short term trading opportunity. Given that the momentum is bearish at the moment, traders may consider shorting this market to ride on the bearish trend.

USDJPYrH1

 

Pound Kiwi – GBP/NZD pullback to its 2.2452 resistance level as we expected in our 6th January 2016 Market Outlook. Price rejected the resistance level on last Friday which shows that the bears are still in the market shorting. Traders may consider shorting this market to ride on the bearish trend as price is likely going to continue to move lower in the coming days.

GBPNZDrDaily

14th January 2016 Market Outlook

Gold – Gold rally higher after price pullback to its 1082.00–1079.00 support area and rejected it as we expected in our 13th January 2016 Market Outlook. Traders who went long as we recommended may consider continue to hold on the long position as price is likely going to continue to move higher into its 1111.70 resistance level in the coming days.

XAUUSDrH4

 

Aussie Dollar – AUD/USD fell lower after price rejected its 0.7032–0.7015 resistance area as we expected in our 12th January 2016 Market Outlook. Traders who went short as we recommended may consider scale out the position when price hit the 0.6910 support level to lock in the profits as price could potentially bounce a little before continue to move lower.

AUDUSDrH4

 

Kiwi Dollar – NZD/USD continue to move lower after price breaks its 0.6619–0.6590 support area as we expected in our 7th January 2016 Market Outlook. Price did return to the 0.6619–0.6590 resistance area (Previous support area) before continue to move lower which offer traders the opportunity to scale in the position. We are likely going to see price decline into its next support level very soon which traders may consider scale out the position to lock in profits.

NZDUSDrDaily

13th January 2016 Market Outlook

Aussie Loonie – AUD/CAD rejected its 0.9845 support level and rally higher as we expected in our 8th January 2016 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to move higher into its 1.0077 resistance level.

AUDCADrDaily

 

Gold – Gold is making its way back to its 1082.00–1079.00 support area which traders may consider buying into this market as price could potentially bounce at this support area. Due to we are currently in a long term bearish trend, traders are recommended to treat this support area as a short term trade. Ideally, we would prefer to see price rejects this support area before buying into it for a safer entry.

XAUUSDrH4

 

Kiwi Yen – Price starts to find support in NZD/JPY which could potentially cause price to pullback before continue to move lower. Given that the trend is bearish at the moment, traders may consider looking for potential sell setups when price pullback to resistance level especially the 79.84–79.42 resistance area to ride on the bearish trend.

NZDJPYrDaily