31st May 2016 Market Outlook

Pound Kiwi – GBP/NZD pullback into its 2.1708 support level and started to rally higher gradually in the last few days. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as we are likely going to see price continue to rally higher into its next resistance level at 2.2000. If price is able to breakout above its 2.2000 resistance level, we are then likely going to see price continue rally higher into its next resistance level at 2.2450.

GBPNZDrH4

 

China Offshore Yuan – USD/CNH rallied higher after price rejected its 6.5575 support level as we expected in our 23rd May 2016 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 into its 6.6070 resistance level in the coming days. Traders may also trail the stop loss to lock in profits in case price reverse back down.

USDCNHrH4

 

Aussie Dollar – AUD/USD is making its way back into the 0.7255 resistance level which traders may consider looking for potential short setups to jump on the bearish trend. Ideally we would prefer to see price rejects the 0.7255 resistance level before shorting for a safer entry. There’s no immediate support level below which offer traders huge profit margin to trade the short side.

AUDUSDrH4

30th May 2016 Market Outlook

Euro Dollar – EUR/USD continue to decline lower after price rejected its 1.1220 resistance level as we expected in our 20th May 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind to lock in profits. Traders who missed the shorting opportunity may still hunt for potential short setups if price pullback into its 1.1147 resistance level.

EURUSDrH4

 

Loonie Dollar – USD/CAD shot up higher after price rejected its 1.2950 support level as we expected in our 27th May 2016 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 in the coming days into its 1.3182 resistance level. Traders may have their first target set at the 1.3182 resistance level to lock in profits when price retest the 1.3182 resistance level.

USDCADrH4

 

Japanese Yen – USD/JPY breakout above its resistance area shortly after the market open. Given that the momentum is bullish at the moment, traders may consider buying into this market as price is likely going to continue to rally higher into its next resistance level at 111.85. Traders may also wait for price to pullback into its 110.60–110.40 support area (Previous resistance area) before buying into this market for a greater risk:reward entry.

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27th May 2016 Market Outlook

Loonie Dollar – USD/CAD rejected its 1.2950 support level yesterday which could potentially push price higher in the coming days. Although the overall long term trend is still bearish, the short term momentum had turned bullish with the series of Higher Highs and Higher Lows on the lower time frame therefore traders may consider buying into this market and having the first target set near 1.3182 resistance level.

USDCADrH4

 

Pound Loonie – The bullish momentum we see in GBP/CAD is quite strong in the last few trading weeks coupled with a rejection off the 1.8998 support level, traders may consider buying into this market to jump on the bullish trend. Price is likely going to continue its bullish momentum in the coming days and could potentially breakout above its 1.9299 resistance level. However traders may still have the first target set around the 1.9299 resistance level to lock in profits.

GBPCADrH4

 

Norwegian Krone – USD/NOK rejected its 8.2400 support level yesterday which is also the neckline of the head and shoulders chart pattern (On the daily time frame chart) and the momentum had been bullish since the breakout of head and shoulders chart pattern. Given that there are multiple confluences pointing price could potentially moving higher, traders may consider buying into this market and have the first target set near the 8.3920 resistance level.

USDNOKrH4

26th May 2016 Market Outlook

Pound Dollar – GBP/USD breakout above its 1.4659 resistance level yesterday which had now turned into a nice little support level where traders may consider hunting for potential buy setups to ride on the bullish trend. Ideally we would prefer to see price rejects the 1.4659 support level (Previous resistance level) before buying into this market for a safer entry. Traders may have their first target set near the 1.4766 to lock in profits for long positions.

GBPUSDrH4

 

Silver – Silver started to consolidates and have some small rejections at the 16.35–16.13 support area which could be a signal for potential reverse of the current bearish movement. Traders may consider buying into this market as price could potentially reverse and rally higher in the coming days. On the other hand, if price breaks below its 16.35–16.13 support area, we are then likely going to see price decline even lower into its next support level at 15.52.

XAGUSDrDaily

 

Pound Kiwi – GBP/NZD continue to breakout higher as the bulls continue to prevails. Given that we are in a bullish trend, traders may consider buying into this market or wait for price to pullback into its 2.1751 support level before buying into this market. There is no immediate resistance level above until the next key resistance level which is located at 2.2450 which offer traders massive profit margin to trade the long side.

GBPNZDrH4

25th May 2016 Market Outlook

Euro Pound – EUR/GBP fell significantly lower after price rejected its 0.7750 resistance level as we exepected in our 23rd May 2016 Market Outlook. Traders who went short at the 0.7750 resistance level and 0.7925 resistance level as we recommended in our 23rd May 2016 Market Outlook and 4th May 2016 Market Outlook may consider scale out the position at the current price level to lock in profits while leaving the rest for potential further decline. Traders who missed these two big shorting opportunity may consider hunting for potential shorting opportunity when price pullback into the 0.7650 resistance level to ride on this bearish trend.

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Pound Loonie – GBP/CAD is currently consolidating below its 1.9160 resistance level. Traders may consider buying into this market if price breakout above the 1.9160 resistance level as price is likely going to continue to rally higher into its next resistance area at 1.9881–1.9724 if the 1.9160 resistance level is taken out. Traders who went long at the 1.8500 support level as we recommended in our 17th May 2016 Market Outlook may also consider continue holding onto the long position with a trailing stop behind to lock in profits in case market reverse back down.

GBPCADrDaily

 

Pound Aussie – GBP/AUD rally higher after price pullback into its 1.9980 support level and rejected it. If price once again pullback into the 1.9980 support level, traders may hunt for potential buying opportunity to ride on the bullish momentum. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side. Ideally we would prefer to see price rejects the 1.9980 support level before buying into this market for a safer entry.

GBPAUDrDaily

23rd May 2016 Market Outlook

Gold – Gold rejected its 1259.30 resistance level which traders may consider shorting as the momentum is bearish at the moment. There is no immediate support level below which offer traders huge profit margin to trade the short side. However traders with short position may still have the first profit target set at the previous swing low to lock in profits while leaving the rest to run further with a trailing stop behind.

XAUUSDrH4

 

Euro Pound – EUR/GBP pullback into its 0.7750 resistance level which traders may hunt for potential short setup as the trend is bearish currently. Ideally we would prefer to see price rejects the 0.7750 resistance level before shorting for a safer entry. If price rejects the 0.7750 resistance level and starts to decline lower, traders may consider having the first target set near the previous swing low at 0.7650.

EURGBPrH4

 

China Offshore Yuan – Over the exotic pair, we have a potential buying opportunity in USD/CNH as price rejected its 6.5575 support level. Given that the overall trend is still bullish, traders may consider buying into this market to ride on the bullish trend. The next resistance level is not found until 6.6070 which offer traders decent profit margin to trade the long side.

USDCNHrH4

20th May 2016 Market Outlook

Silver – Silver pullback all its way back to the 16.35–16.13 support area after price rejected its 17.77 resistance level as we expected in our 2nd May 2016 Market Outlook. Traders who went short at the 17.77 resistance level may consider taking profits at the 16.35–16.13 support area. Traders may also consider buying into this market at the 16.35–16.13 support area as it is a key support area which could potentially push price back up to the 17.77 resistance level.

XAGUSDrDaily

 

Aussie Dollar – We have a nice little resistance level in AUD/USD at 0.7255 which traders may consider shorting if price pullback to the resistance level as the trend is bearish at the moment. Ideally we would like to see price rejects this resistance level before shorting for a safer entry. There’s no immediate support level below which offer traders huge profit margin to trade the short side.

AUDUSDrH4

 

Euro Dollar – EUR/USD breaks below its 1.1220 support level yesterday which had turned into a resistance level which traders may hunt for potential short setups especially on the lower time frames. Although the medium term trend is still in bullish mode, the shorter term moentum had turned bearish after the breakout below its 1.1220 support level. We are likely going to see price test its 1.1147 support level in the near term which traders may set it as the first target for short positions.

EURUSDrH4

19th May 2016 Market Outlook

Euro Pound – EUR/GBP fell lower into its 0.7695 support level after price rejected its 0.7925 resistance level as we expected in our 4th May 2016 Market Outlook. Traders who went short at the 0.7925 resistance level may consider taking partial profits at the 0.7695 support level to lock in profits while leaving the rest to run further with a trailing stop behind. If price close below the 0.7695 support level, we are then likely going to see some further decline in the coming days.

EURGBPrH4

 

Kiwi Dollar – NZD/USD decline lower after price rejected its 0.6825 resistance level as we expected in our 13th May 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position and may consider having the first target near the 0.6715 support level to lock in some profits. The next key support level is located at 0.6560 which traders may set as the final target.

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Pound Kiwi – GBP/NZD breakout above its 2.1480 resistance level yesterday which had turned into a nice little support level where traders may consider hunting for potential buy setups to ride on the bullish trend. Ideally we would prefer to see price rejects the 2.1480 support level (Previous resistance level) before buying into this market for a safer entry.

GBPNZDrH4

18th May 2016 Market Outlook

Pound Loonie – GBP/CAD rally higher into its 1.8740 resistance level after price rejected its 1.8500 support level as we expected in our 17th May 2016 Market Outlook. Traders who went long as we recommended in our 5th May 2016 Market Outlook may consider taking partial profits off the table at the 1.8740 resistance level to lock in the profits. If price breakout above the 1.8740 resistance level, we are then likely going to see further rally in this market in the coming days.

GBPCADrH4

 

Aussie Loonie – AUD/CAD decline lower after price pullback into its 0.9464–0.9455 resistance area and rejected it as we expected in our 16th May 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price is likely going to decline lower in the coming days. Traders who shorted this market may have their first target set near previous swing low at 0.9360 to lock in profits.

AUDCADrH4

 

Euro Swedish Krona – Besides the common currency pairs, over the exotic pairs we have a nice little support level in EUR/SEK at 0.9306 support level. The short term momentum is currently bullish at the moment therefore traders may hunt for potential buying opportunity when price pullback to the 0.9306 support level to ride on the bullish momentum.

EURSEKrDaily

17th May 2016 Market Outlook

Pound Loonie – GBP/CAD pullback into its 1.8500 support level and rejected it as we expected in our 5th May 2016 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 into its next resistance level at 1.8740.

GBPCADrH4

 

Euro Pound – EUR/GBP continue to move lower after price rejected its 0.7925 resistance level as we expected in our 4th May 2016 Market Outlook. Traders who went short at the 0.7925 resistance level may consider continue holding onto the short position as price is likely going to continue to decline lower in the coming days. Traders may also trail the stops at previous swing highs to lock in the profits.

EURGBPrH4

 

Euro Aussie – EUR/AUD once again pullback into its 1.5415 support level which traders may hunt for potential buying opportunity to ride on the bullish momentum. Ideally we would prefer to see price rejectes the 1.5415 support level before buying into this market for a safer entry as well as avoiding fake signals.

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