28th April 2016 Market Outlook

NZD/CAD – NZD/CAD decline into its 0.8585 support level after price breakout below its 0.8775 support level as we expected in our 15th April 2016 Market Outlook. Traders who went short at the 0.9050 resistance level as we recommended in our 31st March 2016 Market Outlook and those who went short at the breakout of 0.8775 support level may consider taking profits at the 0.8585 support level. Price rejected the 0.8585 support level yesterday which could potentially cause price to pullback into the 0.8775 resistance level (Previous support level) before decline lower. If price indeed pullback into the 0.8775 resistance level, traders may then look for shorting opportunity at the 0.8775 resistance level to ride on the bearish trend.

NZDCADrDaily

 

Aussie Kiwi – We had a strong decline yesterday in AUD/NZD which cause price to breaks below the 1.1060 support level. Price is currently trading at the 1.0960 support level which traders may get ready for a potential breakout trade if price breakdown below the 1.0960 support level. Traders may also wait for price to pullback into its 1.1060 resistance level (Previous support level) before shorting for a better risk reward trade.

AUDNZDrH4

 

Pound Kiwi – GBP/NZD pullback into its 2.0980 support level which traders may hunt for potential buy setups. However due to the overall long term trend is still bearish, traders may need to be more cautious when placing stops and profit targets. If price bounce off from the 2.0980 support level, we are then likely going to see price rally higher into its next resistance level at 2.1500.

GBPNZDrH4

27th April 2016 Market Outlook

Pound Aussie – GBP/AUD rally into its 1.9097–1.8982 resistance area after price rejected its 1.8350–1.8265 support area as we expected in our 26th April 2016 Market Outlook. We are currently trading at the 1.9097–1.8982 resistance area which traders may consider shorting this market if price rejects this resistance area. If price breakout above this 1.9097–1.8982 resistance area, we are then likely going to see price rally higher into its next resistance area at 2.0179–1.9880.

GBPAUDrDaily

 

Pound Loonie – GBP/CAD rally higher into the 1.8510 resistance level after price rejected the 1.8150 support level as we expected in our 18th April 2016 Market Outlook. Price rejected the 1.8510 resistance level yesterday which could potentially push price back lower into the 1.8150 support level. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend and have their first target at 1.8150 support level.

GBPCADrH4

 

Loonie Yen – CAD/JPY breakout above the 87.07 resistance level which had now turned into a support level where traders may hunt for potential buy setup. If price pullback into the 87.07 support level (Previous resistance level), traders may then consider buying into this market as the momentum is bullish at the moment. The next resistance level is not found until 89.33 which offer traders decent profit margin to trade the long side.

CADJPYrDaily

26th April 2016 Market Outlook

Pound Dollar – GBP/USD rally higher into the 1.4511 resistance level as we expected in our 25th April 2016 Market Outlook. Traders who went long at the 1.4345–1.4320 support area and those who went long at the 1.4050 support level as we recommended in our 20th April 2016 Market Outlook and 7th April 2016 Market Outlook may consider taking partial profits off the table at the 1.4511 resistance level to lock in the profit. If price breakout above the 1.4511 resistance level, we are then likely going to see further rally into its next resistance level at 1.4663.

GBPUSDrH4

 

Pound Aussie – GBP/AUD bounce higher after price rejected its 1.8350–1.8265 support area. Price is likely going to continue to rally higher into its 1.9097–1.8982 resistance area. Given that the overall trend is still bearish, traders may wait for price to pullback into the 1.9097–1.8982 resistance area and hunt for potential short setups to ride on the bearish trend.

GBPAUDrDaily

 

Pound Kiwi – We have a nice little support level in GBP/NZD after price breakout above the 2.0980 resistance level which had now turned into a support level where traders may consider buying into to ride on the bullish trend. Ideally we would prefer to see price rejecting the 2.0980 support level before buying into this market for a safer entry. The next resistance level is not found until 2.1500 which offer traders massive profit margin to trade the long side.

GBPNZDrH4

25th April 2016 Market Outlook

Pound Dollar – GBP/USD pullback into its 1.4345–1.4320 support area and rally higher as we expected in our 20th April 2016 Market Outlook. Traders who went long at the 1.4345–1.4320 support area and those who went long at the 1.4050 support level as we recommended in our 7th April 2016 Market Outlook may consider continue holding onto the long position as price is likely going to continue to rally higher into its next resistance level at 1.4511.

GBPUSDrH4

 

Euro Loonie – EUR/CAD pullback into its 1.4385 resistance level and decline lower as we expected in our 21st April 2016 Market Outlook. Traders who went short at the 1.4385 resistance level and those who went short at the 1.5120–1.5010 resistance as we recommended in our 11th March 2016 Market Outlook may consider continue holding onto the short position as the next support level is not found until 1.4040 which offer traders massive profit margin to trade the short side.

EURCADrH4

 

Euro Pound – EUR/GBP continue its strong decline after price breakout below its 0.7925 support level. Given that the momentum is bearish at the moment, traders may consider shorting this market if price pullback into the 0.7830 resistance level. Ideally we would prefer to see price rejects the 0.7830 resistance level before shorting for a safer entry.

EURGBPrH4

22nd April 2016 Market Outlook

Euro Yen – EUR/JPY rally up into its 124.71 resistance level as we expected in our 19th April 2016 Market Outlook. Traders who went long may consider taking profits at the 124.71 resistance level as the overall trend is still bearish. Traders may consider shorting this market to ride on the bearish trend as price rejected the 124.71 resistance level yesterday which opened up the door for potential further losses in this market in the coming days. The 122.20 support level may serve as the first target for short sellers to lock in profits.

EURJPYrH4

 

Loonie Dollar – USD/CAD pullback into the 1.2749 resistance level which offer traders opportunity to short this market as the overall trend is still bearish. Traders who went short at the 1.2950 resistance level as we recommended in our 13th April 2016 Market Outlook may consider scale in the position at this resistance level as well. The next support level is not found until 1.2550 which offer traders massive profit margin to short this market.

USDCADrH4

 

Euro Pound – We have a nice resistance level in EUR/GBP at 0.7925 which could potentially offer traders some good trading opportunities to short this market as the momentum is bearish at the moment. Traders may wait for price to pullback into the 0.7925 before shorting and ideally we would prefer to see price rejects the 0.7925 resistance level before shorting for a safer entry.

EURGBPrH4

21st April 2016 Market Outlook

Euro Loonie – EUR/CAD fell significantly lower after price pullback into its 1.5120–1.5010 resistance area and rejected it as we expected in our 11th March 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price has breakout below its 1.4385 support level. On the other hand, traders who missed the shorting opportunity may consider shorting this market when price pullback into the 1.4385 resistance level (Previous support level) to ride on this bearish momentum.

EURCADrDaily

 

Japanese Yen – USD/JPY is approaching the 110.95–110.00 resistance area which could potentially offer traders selling opportunities in this market. Traders may consider shorting this market when price pullback to the resistance area as the overall trend is still bearish. Ideally we would prefer to see price rejects the resistance area before shorting for a safer entry.

USDJPYrDaily

 

Aussie Dollar – AUD/USD continue to breaks higher earlier this week. We now have a minor support level at 0.7721 which traders may hunt for potential buy setups. If price pullback into this support level and rejected it, traders may then consider buying into this market. The next resistance level is not found until 0.7848 which offer traders decent profit margin to trade the long side.

AUDUSDrDaily

20th April 2016 Market Outlook

Silver – Silver shot up significantly higher after price breakout above its 16.35–16.13 resistance area as we expected in our 18th April 2016 Market Outlook. Traders who went long as we recommended may consdier continue holding onto the long position as price is likely going to continue to rally higher into its next resistance level at 17.77 in the coming days.

XAGUSDrDaily

 

Pound Dollar – GBP/USD continue to rally higher after price rejected its 1.4050 support level as we expected in our 7th April 2016 Market Outlook. Traders who went long at the 1.4050 support level may consider holding onto the long position as there’s no immediate resistance above while traders who missed the buying opportunity may consider buying into this market when price pullback into the 1.4345–1.4320 support area.

GBPUSDrH4

 

Loonie Dollar – USD/CAD continue to decline lower after price rejected its 1.2950 resistance level as we expected in our 13th April 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop as price is likely going to continue to decline lower in the coming days. Traders may also consider scale in the position when price pullback to the 1.2749 resistance level.

USDCADrH4

19th April 2016 Market Outlook

Loonie Dollar – USD/CAD fell lower after price rejected its 1.2950 resistance level as we expected in our 13th April 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop as price is likely going to continue to decline lower in the coming days.

USDCADrH4

 

Kiwi Dollar – NZD/USD breakout above its consolidation yesterday which opened up the door for potential further rally in the coming days. Given that the momentum is bullish at the moment, traders may consider buying into this market to ride on the bullish momentum. The next resistance level is not found until 0.7200 which offer traders massive profit margin to trade the long side. Traders may also zoom into the lower time frames to fine tune the entry for greater rewards.

NZDUSDrDaily

 

Euro Yen – EUR/JPY shot up higher after price performed a false breakout and rejected its 122.20 support level. Given that the overall trend is still bearish, conservative traders may consider waiting for price to pullback into the 124.71 resistance level and short the market to ride on the bearish trend while aggressive traders may consider taking a short term counter trend trade by buying into this market and have the first target at 124.71 resistance level.

EURJPYrH4

18th April 2016 Market Outlook

Pound Yen – GBP/JPY starts to decline lower after price rejected its 155.00 resistance level as we expected in our 14th April 2016 Market Outlook. Traders who went short at the 155.00 resistance level and those who went short even earlier at the 164.00 resistance level as we recommended in our 7th April 2015 Market Outlook 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.

GBPJPYrH4

 

Silver – Silver continue to consolidates at the 16.35–16.13 resistance area due to uncertainty in the market. If price breakout above 16.35–16.13 resistance area, traders may then consider buying into this market as price is likely going to continue to rally higher into its next resistance level at 17.77. On the other hand, if price couldn’t breakout above this resistance area, we are then likely going to see price decline lower into its 15.52 support level before the rally resume.

XAGUSDrDaily

 

Pound Loonie – GBP/CAD started to bounce at the 1.8150 support level and we could potentially see price pullback into its 1.8510 resistance level before price decline lower. Given that the overall trend is still bearish, traders may consider shorting this market if price pullback to the 1.8510 resistance level to ride on the bearish trend and have the first target at 1.8150 support level.

GBPCADrH4

15th April 2016 Market Outlook

NZD/CAD – NZD/CAD decline into its 0.8775 support level as we exected in our 31st March 2016 Market Outlook after price rejected its 0.9050 resistance level. Traders who went short as we recommended may consider taking partial profits off the table at the 0.8775 support level while leaving the rest to run further. If price breaks the 0.8775 support level, we are then likely going to see price continue to move lower into its next support level at 0.8585 in the coming weeks.

NZDCADrDaily

 

Pound Loonie – GAP/CAD fell lower into its 1.8150 support level as we expected in our 13th April 2016 Market Outlook after price rejected the 1.8510 resistance level. Traders who went short at the 1.8510 resistance level as we recommended in our 11th April 2016 Market Outlook may consider scale out the position at this 1.8150 support level to lock in profits. If price breaks below this 1.8150 support level, we could potentially see some significant drop in this market as it’s a key support level and there’s no support level found until 1.7800.

GBPCADrDaily

 

Pound Aussie – GBP/AUD fell lower into its next support level at 1.8350 after price breakout below its 1.8600 support level as we expected in our 4th April 2016 Market Outlook. Traders who went short at the 1.9097–1.8982 resistance area as we recommended in our 30th March 2016 Market Outlook may consider scaling out the position at the 1.8350–1.8265 support area to lock in profits. If price breaks below the 1.8350–1.8265 support area, we are then likely going to see further decline in the coming weeks.

GBPAUDrDaily