30th September 2016 Market Outlook

Euro Dollar – EUR/USD is currently consolidating and we could potentially see a breakout to the upside or the downside in the near term. Traders may consider buy into this market if price breakout above it or sell if price breakout below the consolidation.

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Aussie Dollar – AUD/USD keep on attacking the 0.7755–0.7730 resistance area but the bears keep holding the bulls below the resistance area. The short term trend is slightly bullish and if price breakout above the resistance area, we are then likely going to see a strong rally into its 0.7848 resistance level.

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Gold – Although Gold did bounce after price rejected the 1308.00–1303.00 support area as we expected in our 22nd August 2016 Market Outlook, the rally didn’t last very long and price started to consolidates once again. Price is likely going to continue to move within the consolidation therefore traders may consider buy at the lower end of the consolidation and sell at the upper end of the consolidation as this market condition suits day trading and scalping for a quick small gains.

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29th September 2016 Market Outlook

Loonie Dollar – USD/CAD fell significantly lower after price rejected its 1.3235 resistance level as we expected in our 27th September 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 into its 1.3000 support level in the near term.

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Japanese Yen – USD/JPY is approaching its 101.42 resistance level. Given that the trend is still bearish, traders may hunt for potential short setups near this resistance level. Ideally we would prefer to see price rejects or offer any other confirmation before shorting this market for a safer entry.

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Euro Aussie – We have a resistance level in EUR/AUD at 1.4640 where traders may look for potential shorting opportunity especially on the lower time frame chart to jump on the bearish trend. The next key support level is not found until 1.4445 which offer traders huge profit margin to trade the short side of the market.

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28th September 2016 Market Outlook

Aussie Loonie – AUD/CAD rally all its way up into its 1.0085 resistance level and even breakout above this resistance level and is heading towards its next resistance level at 1.0165 after price rejected its 0.9755–0.9733 support area as we expected in our 22nd August 2016 Market Outlook. Traders who went long as we recommended may consider taking partial profits off the table to lock in profits while leaving the rest to run further. Traders who missed the long opportunity may still hunt for potential buy setups when price pullback to support level especially on the lower time frame to jump on this bullish trend and price is likely going to rally into its 1.0165 resistance level in the near term.

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Pound Dollar – GBP/USD started to bounce after price found support level below. We might see GBP/USD once again pullback into its 1.3090 resistance level in the near term and if price indeed pullback into the 1.3090 resistance level, traders may hunt for potential short setups to jump on the bearish trend. Traders who went short at the 1.3250 resistance level as we recommended in our 14th September 2016 Market Outlook may also look for potential short setups near the 1.3090 resistance level to scale in the position.

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Swedish Krona – Over the exotic pairs, we have potential breakout opportunity in USD/SEK as price is currently trading below its 8.6145 resistance level. Traders may consider buy into this market at the breakout of the 8.6145 resistance level to jump on the bullish trend. The next resistance level is located at 8.6960 which offer traders decent profit margin to trade the long side of the market.

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27th September 2016 Market Outlook

Pound Loonie – GBP/CAD pullback into its 1.7150 short term resistance level where traders may hunt for potential short setups as the overall trend is still bearish at the moment. Traders who went short at the 1.7555 resistance level as we recommended in our 2nd September 2016 Market Outlook may consider continue holding onto the short position and also scale in at the 1.7150 resistance level to maximize the potential profit opportunity in this bearish trend as price is likely going to continue to decline lower in the coming days.

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Aussie Yen – AUD/JPY continue to struggle to make any significant move after price rejected its 76.10 support level. Given that the price is moving in a range over the shorter term, traders may consider buying into this market. Conservative traders may wait for price to pullback into its upper end of the trading range at 78.63 before shorting this market to ride on the long term bearish trend.

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Loonie Dollar – USD/CAD once again pullback into its 1.3235 resistance level and made a huge rejection at this resistance level. The long term trend is still bearish at the moment therefore traders may lookout for potential short opportunities around this resistance area. Price is likely going to decline lower in the near term and could potentially retest its 1.3000 key support level which is also a big round number/psychological level where price reacted sharply in the past. On the other hand, if price breakout above the 1.3235 resistance level, we are then likely going to see price rally higher in the coming days.

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26th September 2016 Market Outlook

Pound Dollar – GBP/USD fell lower after price rejected its 1.3090 resistance level as we expected in our 23rd September 2016 Market Outlook. Traders who went short at the 1.3090 resistance level and those who went short at the 1.3250 resistance level as we recommended in our 14th September 2016 Market Outlook may consider continue holding onto the short position with a trailing stop behind as price could potentially continue to decline lower in the coming days.

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Aussie Loonie – AUD/CAD rally higher after price rejected its 0.9755–0.9733 support area as we expected in our 22nd August 2016 Market Outlook. It took quite long for price to rally but the wait has finally come into fruition and traders who went long as we recommended may consider continue holding onto the long position and tighten up their trailing stop as price is likely going to rally into its 1.0085 resistance level in the near term.

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Euro Loonie – EUR/CAD performed another false breakout at the 1.4675 support level after price rejected it and price had shot up higher as we expected in our 20th September 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. Traders may also consider having the first target set near the previous swing high to lock in profits while leaving the rest to run further with a trailing stop behind.

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23rd September 2016 Market Outlook

Pound Dollar – GBP/USD rejected its 1.3090 resistance level yesterday which could potentially push price lower in the coming days. Given that the overall trend is still bearish, traders may consider shorting this market to ride on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side. Traders who went short at the 1.3250 resistance level as we recommended in our 14th September 2016 Market Outlook may consider continue holding onto the short position and also scale in the short position at the 1.3090 resistance level.

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Japanese Yen – USD/JPY is approaching its 101.45–101.20 short term resistance area. Given that the trend is still bearish, traders may consider shorting this market to ride on the bearish trend. The key support level is located at 100.00 support level which traders need to be aware of when price gets near the key support level.

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Euro Yen – EUR/JPY bounce off its 112.35 support level and is likely going to pullback into its 113.91 resistance level in the near term. Traders may look for potential short opportunities near the 113.91 resistance level to jump on the bearish trend. Ideally we would prefer to see price rejects the 113.91 resistance level before shorting for a safer entry.

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22nd September 2016 Market Outlook

Loonie Dollar – USD/CAD finally breakout below its trading range and price had a nice decline after the breakout. Given that price is moving side way over the long term view and we are at the upper end of the daily time frame chart trading range, this breakout on the shorter time frame could potentially lead price significantly lower in the coming days. Traders may consider short this market or wait for price to pullback into its 1.3145 resistance level before shorting for a more favorable risk reward trade.

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Aussie Kiwi – AUD/NZD is making its way back into its 1.0440 resistance level after price found support at around 1.0240 price level. Given that the longer term trend is still bearish, traders may consider shorting this market when price pullback into its 1.0440 resistance level. Ideally we would prefer to see price rejects this 1.0440 resistance level before shorting this market for a safer entry.

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Loonie Yen – CAD/JPY breakout below its 76.76 key support level earlier this week. Price now returned back into its 77.05–76.76 resistance area which traders may look for potential shorting opportunities especially on the lower time frame chart to ride on the bearish trend.

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21st September 2016 Market Outlook

Pound Dollar – GBP/USD fell lower after price rejected its 1.3070 short term resistance level as we expected in our 20th September 2016 Market Outlook. Traders who went short at the 1.3070 resistance level and 1.3250 resistance level as we recommended in our 14th September 2016 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.

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Loonie Dollar – USD/CAD once again reject its 1.3145 support level and rally higher as we expected in our 19th September 2016 Market Outlook. We are in a short term trading range at the moment and price could goes anywhere from here. If price breakout above the trading range, we are then likely going to rally higher while a breakout below the trading range will potentially trigger selloff in the market.

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Pound Aussie – We have a nice little resistance level above at 1.7265 in GBP/AUD where traders may hunt for potential short setups if price pullback into it as the overall long term trend is still bearish at the moment. Ideally we would prefer to see price rejects the 1.7265 resistance level before shorting for a safer entry.

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20th September 2016 Market Outlook

Pound Dollar – We have a small rejection at the 1.3070 short term resistance level in GBP/USD where traders may consider shorting as price could potentially continue decline lower in the coming days. Traders who went short at the 1.3250 resistance level as we recommended in our 14th September 2016 Market Outlook may also consider scale in the position at this resistance level to max out the potential profits of this bearish trend.

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Euro Loonie – EUR/CAD rejected its 1.4675 support level yesterday which could potentially cause price to rally higher in the coming days. The short term momentum had turned slightly bullish after price breakout from its consolidation. However we still have another resistance level ahead which traders have to beware of as it could hold price back from moving higher.

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Pound Loonie – GBP/CAD fell lower after price rally all the way up into its 1.7555 resistance level and rejected it as we expected in our 2nd September 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as the trend is still bearish and price is likely going to retest its 1.6700 in the near term.

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19th September 2016 Market Outlook

Pound Dollar – GBP/USD fell significantly lower after price pullback into its 1.3250 resistance level and rejected it as we expected in our 14th September 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. Traders who missed the shorting opportunity may still lookout for potential short setups near the resistance level to ride on this bearish momentum.

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Loonie Dollar – USD/CAD rally higher after price rejected its 1.3145 support level as we expected in our 16th September 2016 Market Outlook. Traders may still lookout for potential buy setups as long as price remains above the 1.3145 support level.

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China Offshore Yuan – USD/CNH pullback into its 6.6688 resistance level earlier today which could potentially hold price back from continue to rally higher over the short run. Traders may consider shorting this market to trade the potential short term bearish setup to ride on the bearish momentum.

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