30th June 2016 Market Outlook

Pound Dollar – GBP/USD pullback into its 1.3500 resistance level yesterday and rejected it as we expected in our 28th June 2016 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 decline lower in the coming days. Traders may also have the first target set near previous swing low at 1.3130 to lock in profits.

GBPUSDrH4

 

Swedish Krona – USD/SEK is making its way back into its 8.4390–8.3800 support area. Given that the short term momentum is bullish at the moment, traders may consider buying into this market to ride on the bullish momentum. Ideally we would prefer to see price rejects the 8.4390–8.3800 support area before buying into this market for a safer entry. The next resistance level is not found until 8.7440 which allow traders huge profit margin to trade the long side.

USDSEKrDaily

 

Pound Loonie – GBP/CAD rejected the 1.7556 resistance level yesterday as well which offer traders shorting opportunity to ride on this huge bearish trend and momentum. Traders may consider shorting this market to ride on the bearish trend. There’s no immediate support level below which gives traders massive profit margin to trade the short side but traders may still have the first target set near previous swing low at 1.7150 to lock in profits if price moves in our favor.

GBPCADrH4

29th June 2016 Market Outlook

Gold – Gold pullback into its 1308.00 support level and rejected it as we expected in our 27th June 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. There’s no immediate resistance level above but traders may still set the first target near previous swing high at 1358.00 to lock in profits.

XAUUSDrH4

 

Pound Aussie – GBP/AUD rejected its 1.7870 support level which could potentially cause price to bounce back up into its 1.8350–1.8280 resistance area before decline lower. Given that the overall trend is still bearish, traders may consider waiting for price to pullback into the 1.8350–1.8280 resistance area before shorting the market while aggressive traders may consider buying into this market at the 1.7870 support level for a short term counter trend trade into its 1.8350–1.8280 resistance area.

GBPAUDrDaily

 

Loonie Yen – CAD/JPY is making its way back into the 79.35–79.00 resistance area. Since the trend is still bearish, traders may hunt for potential short setup at the 79.35–79.00 resistance area especially on the lower time frame. If price rejects the 79.35–79.00 resistance area, we are then likely going to see price decline lower in the coming days.

CADJPYrDaily

28th June 2016 Market Outlook

Euro Dollar – EUR/USD fell through its 1.1097–1.1060 support area last week which opened up the door for potential further losses in the coming days. Given that the overall trend and momentum is bearish at the moment, traders may look for potential short setups at the 1.1097–1.1060 resistance area (Previous support area) especially on the lower time frame to jump on the bearish trend. The next key support level is not found until 1.0820 which offer traders massive profit margin to trade the short side.

EURUSDrDaily

 

Kiwi Yen – NZD/JPY breakout away from its massive consolidation on last Friday which free price up to move lower in the coming weeks. The trend is clearly bearish at the moment after the breakout and the 73.00 key support level had turned into a key resistance level which traders may hunt for short setups. The next key support level is located at 69.00 support level which offer traders massive profit margin to trade the short side.

NZDJPYrDaily

 

Pound Dollar – GBP/USD continue to decline and printed new low on the chart yesterday. The market is extremely bearish at the moment therefore traders may consider shorting this market to ride on the bearish trend. Traders may also wait for price to pullback into the 1.3500 resistance level before shorting for a greater risk:reward trade.

GBPUSDrDaily

27th June 2016 Market Outlook

Gold – Gold breakout above its 1308.00 resistance level which opened up the door for potential further rally in the coming days. Given that the overall trend is still bullish, traders may consider buying into this market to jump on the bullish trend. Traders may also wait for price to pullback into its 1308.00 support level (Previous resistance level) before buying into this market for a greater risk:reward trade.

XAUUSDrDaily

 

Pound Aussie – GBP/AUD breakout below its 1.8350–1.8280 support area last Friday after UK voted to leave. Given that the trend is bearish after the breakout. Traders may hunt for potential short setups when price pullback into the 1.8350–1.8280 resistance area (Previous support level). Ideally we would prefer to see price rejects the 1.8350–1.8280 resistance area before shorting for a safer entry.

GBPAUDrDaily

 

Loonie Yen – CAD/JPY finally break through its 6 months consolidation on last Friday. The trend and momentum is clearly bearish after price break away from its consolidation therefore traders may consider shorting this market when price pullback into its 79.35–79.00 resistance level to jump on this bearish trend. The next support level is not found until 74.50 which offer traders huge profit margin to trade the short side.

CADJPYrDaily

24th June 2016 Market Outlook

Euro Dollar – EUR/USD fell significantly lower after price rejected its 1.1415 resistance level. Price even breakthrough its 1.1097–1.1060 support area which had now turned into a resistance area where traders may consider looking for potential short sellers. If price pullback into 1.1097–1.1060 resistance area (Previous support area) and rejected it, traders may then consider shorting this market to ride on the bearish trend. The next support level is not found until 1.0820 which offer traders massive profit margin to trade the short side.

EURUSDrDaily

 

Euro Yen – EUR/JPY fell significantly lower after price rejected its 122.10 resistance level. USD/JPY is still in a down trend and coupled with the fact EUR/USD just breakout away from a key support area, we could potentially see EUR/JPY continue to decline further in the coming days. Traders may consider shorting this market to ride on the overall bearish trend.

EURJPYrDaily

 

NZD/CAD – NZD/CAD once again pullback into its 0.9055 support level earlier today which could potentially offer traders another buying opportunity. Given that the trend is bullish at the moment, traders may consider buying into this market to ride on the bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side. Traders may still have the first target set near previous swing high to lock in profits if price move in our favor.

NZDCADrH4

23rd June 2016 Market Outlook

Gold – Gold decline lower after price rejected its 1308.00 resistance level. The trend is still bullish but traders may hop on this bearish momentum by looking for potential short setups on the lower time frame charts. Price could potentially move all the way down into its 1202.00–1190.00 support area. However we are in the midst of BREXIT, traders may consider looking for only potential short term trade setups to stay safe in the market.

XAUUSDrDaily

 

Euro Kiwi – EUR/NZD decline lower after price breakaway from its short term consolidation. If price pullback into the 1.5880–1.5840 resistance area, traders may consider shorting this market. Ideally we would like to see a rejections or any other form of confirmation before shorting to avoid any potential false setups as the market is filled with uncertainty at the moment.

EURNZDrH4

 

Aussie Dollar – AUD/USD rally higher after price rejected its 0.7445 support level. Price even breakout above its 0.7505 resistance level which had now turned into a support level where traders may hunt for potential short term buying opportunities. Traders may consider buying into this market or wait for a pullback to ride on this bullish momentum. Price is likely going to rally up into its 0.7550 resistance level and could potentially push through it and climb higher.

AUDUSDrH4

22nd June 2016 Market Outlook

Loonie Yen – CAD/JPY is currently trading just below its 82.30–82.05 resistance area. Given that the overall trend is still bearish, traders may consider shorting this resistance area to jump on the bearish trend. There’s no immediate support level until 79.35 which offer traders huge profit margin to trade the short side.

CADJPYrDaily

 

Euro Pound – EUR/GBP continue to decline lower after price breakout below its 0.7750 support level as we expected in our 20th June 2016 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 decline lower in the coming days.

EURGBPrH4

 

Japanese Yen – USD/JPY is consolidating above its 103.50 support level. If price pullback into the 106.40–105.60 resistance area, traders may then consider shorting this market to ride on the bearish trend. Ideally we would prefer to see price rejects the 106.40–105.60 resistance area before shorting for a safer entry.

USDJPYrDaily

21st June 2016 Market Outlook

Pound Yen – GBP/JPY rally up into its 153.60 resistance level after price bounce off away from its 147.50 weekly support level. Given that the overall trend is still bearish, traders may consider shorting this market to jump on the bearish trend and have the first target set near the 147.50 weekly support level. Since we are approaching BREXIT soon, traders may also set a smaller target so to be able to exit before this significant event.

GBPJPYrDaily

 

Euro Dollar – EUR/USD is currently sitting above its 1.1295 support level. The short term momentum is bullish right now therefore traders may consider buying into this market for a short term trade. The next resistance level is located at 1.1415 resistance level which offer traders good profit margin for this short term buy setup.

EURUSDrH4

 

Norwegian Krone – USD/NOK rejected its 8.3920 resistance level last week and gapped down at the open. Given that the momentum is bearish at the moment, traders may consider shorting this market. There’s no immediate support level below until 8.0700–8.0400 support area which offer traders decent profit margin to trade the short side.

USDNOKrDaily

20th June 2016 Market Outlook

NZD/CAD – NZD/CAD pullback into its 0.9055 support level and rejected it earlier today which could potentially push price higher in the coming days. Given that the momentum is extremely bullish at the moment, traders may consider buying into this market to jump on the bullish trend. There’s no immeidate resistance level above until 0.9220 which offer traders huge profit margin to trade the long side.

NZDCADrH4

 

Euro Pound – EUR/GBP is heading back into its 0.7750 support level which traders may watch for potential breakout trade and reversal trade. If price breaks below the 0.7750 support level, we are then likely going to see price continue to decline lower into its next support level at 0.7570. On the other hand, if price rejects the 0.7750 support level, we are then likely going to see price rally back up and traders may consider buying into the market.

EURGBPrH4

 

Pound Kiwi – GBP/NZD gapped up after market open and is approaching its 2.0810–2.0700 resistance area. Given that the overall trend is still bearish, traders may watch for potential short setups at the 2.0810–2.0700 resistance area. Ideally we would prefer to see price rejects the 2.0810–2.0700 resistance area before shorting for a safer entry.

GBPNZDrH4

17th June 2016 Market Outlook

Gold – Gold rally into our ultimate target at 1308.00 resistance level after price rejected its 1202.00 support level as we expected in our 9th June 2016 Market Outlook. Traders who went long at the 1202.00 support level as we recommended in our 3rd June 2016 Market Outlook may consider scale out the position at the 1308.00 resistance level to lock in profits. If price is able to breakout above the 1308.00 resistance level, we are then likely going to see further rally in the coming weeks.

XAUUSDrDaily

 

Japanese Yen – USD/JPY decline into its 104.10 support level as we expected in our 16th June 2016 Market Outlook. Traders who went short at the 106.38 resistance level as we recommended in our 14th June 2016 Market Outlook may consider taking profits at the 104.10 support level to lock in profits. If price is able to breakdown below its 104.10 support level, we are then likely going to see price decline lower into its next support level at 102.70.

USDJPYrDaily

 

Pound Loonie – GBP/CAD bounce off its 1.8110 support level and is heading back up to its 1.8500 resistance level. 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 1.8500 resistance level before shorting for a safer entry.

GBPCADrDaily