30th December 2016 Market Outlook

Pound Dollar – GBP/USD pullback into its 1.2315 short term resistance level which traders may look to short as the long term trend is still bearish at the moment. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signal.

gbpusdrh4

 

Euro Pound – EUR/GBP continue to rally higher after price rejected its 0.8345 support level as we expected in our 6th December 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 rally higher into its 0.8720 resistance level in the next few trading days where traders may take partial profits off the table while leaving the rest to run further.

eurgbprdaily

 

Pound Yen – GBP/JPY decline lower after price rejected its 147.70 resistance level as we expected in our 23rd December 2016 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 142.20 support level and hunt for potential buying opportunities at the 142.20 support level. If price breaks the 142.20 support level, traders may still hunt for potential buy setups when price pullback into its 138.70 support level.

gbpjpyrdaily

29th December 2016 Market Outlook

Kiwi Dollar – NZD/USD is making its way back into its 0.6970–0.6950 resistance area where traders may hunt for potential shorting opportunity as the momentum is still bearish at the moment and there’s no immediate support level below which offer traders huge profit margin to trade the short side of the market. Ideally we would prefer to see price rejects the 0.6970–0.6950 resistance area before shorting this market for a safer entry.

nzdusdrdaily

 

Euro Loonie – EUR/CAD rejected its 1.4265–1.4195 resistance area yesterday which could potentially lead 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. As long as price remains below the 1.4265–1.4195 resistance area we remain bearish bias and could see further decline in this market.

eurcadrdaily

 

Euro Kiwi – EUR/NZD performed a false breakout at its 1.5120 resistance level which traders may consider shorting as the long term trend is still bearish. Traders may have the first target set near previous swing low at around 1.4700 to lock in profits while leaving the rest position to run further.

eurnzdrdaily

28th December 2016 Market Outlook

Loonie Dollar – USD/CAD continue to rally higher after price rejected its bullish channel line as we expected in our 21st December 2016 Market Outlook. Price is currently trading near its resistance level therefore traders who went short as we recommended may consider scale out the position or trail the stop higher to lock in profits in case price reverse.

usdcadrdaily

 

Aussie Kiwi – AUD/NZD continue to decline lower after price rejected its 1.0770–1.0740 resistance area as we expected in our 18th October 2016 Market Outlook. However price is facing its support level at 1.0377 which hold price from decline lower. If price breakout below its 1.0377 support level, we are then likely going to see further decline in the coming weeks into its next support level at 1.0215.

audnzdrdaily

 

Aussie Loonie – AUD/CAD shows strength yesterday which could potentially lead price back into its 0.9860 resistance level. If price indeed pullback into the 0.9860 resistance level, traders may consider shorting this market to ride on the bearish trend. Ideally we would prefer to see some price rejections at the 0.9860 resistance level before shorting for a safer entry.

audcadrdaily

27th December 2016 Market Outlook

Euro Loonie – EUR/CAD is approaching its 1.4265–1.4195 resistance area which traders may hunt for potential short setups as the long term trend is still bearish at the moment. Ideally we would prefer to see price rejects the 1.4265–1.4195 resistance area before shorting this market for a safer entry. There’s no immediate support level below which offer traders good profit margin to trade the short side of the market.

eurcadrdaily

 

Pound Dollar – We have a nice little resistance level above in GBP/USD at 1.2315 which traders may lookout for potential shorting opportunity if price pullback into the 1.2315 resistance level especially on the lower time frame charts as the market is likely going to be slow this week. The bearish trend is still in control of this market thus shorting this market would increase the odds of the trade going in our favor.

gbpusdrh4

 

Euro Swedish Krona – EUR/SEK rejected its 9.5820 support level last week which could potentially lead price higher into its 9.6840 resistance level before continue to decline lower. Aggressive traders may consider buying into this market for a quick counter trend trade into its 9.6840 resistance level.

eursekrdaily

26th December 2016 Market Outlook

Euro Pound – EUR/GBP started to see some rejections of lower prices after price pullback into its 0.8345 support level and rejected it as we expected in our 6th December 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 rally higher into its 0.8720 resistance level in the near term.

eurgbprdaily

 

Pound Loonie – GBP/CAD is consolidating and is forming a triangle chart pattern. The long term trend is still bearish at the moment therefore if price breakout to the downside, we are then likely going to see further decline in this market in the coming days. Traders may consider shorting this market at the breakout of the triangle chart pattern to ride on the bearish trend.

gbpcadrdaily

 

NZD/CAD – NZD/CAD pullback into its 0.9335–0.9310 resistance area yesterday which traders may hunt for potential short setups to ride on the bearish trend. Ideally we would prefer to see stronger rejections of the 0.9335–0.9310 resistance area or any other form of confirmation before shorting this market for a safer entry.

nzdcadrh4

23rd December 2016 Market Outlook

Euro Dollar – EUR/USD continue to decline lower after price breakout below its 1.0520 support level. Traders who went short at the 1.0855–1.0820 resistance area as we recommended in our 9th December 2016 Market Outlook may consider continue holding onto the short position with a trailing stop behind. Price shows rejection of higher prices yesterday which could lead price lower in the coming days therefore traders may consider shorting this market to ride on this bearish trend.

eurusdrdaily

 

Pound Yen – GBP/JPY rejected its 147.70 resistance level which could lead price lower in the coming weeks. Given that the long term trend is still bearish at the moment, traders may consider shorting this market as price is likely going to continue to decline lower into its next support level at 138.70.

gbpjpyrdaily

 

Euro Kiwi – EUR/NZD rejected its 1.5120 resistance level yesterday showing the bears are holding onto the 1.5120 resistance level. The long term trend is still bearish therefore traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to breaks below yesterday low before shorting this market as it may serve as a confirmation for traders to decrease the odds of jumping on false signal.

eurnzdrdaily

22nd December 2016 Market Outlook

Euro Kiwi – EUR/NZD pullback into the 1.5120 resistance level yesterday which traders may hunt for potential shorting opportunities as the long term trend is still bearish at the moment. Ideally we would prefer to see price rejects the 1.5120 resistance level before shorting to prevent getting into false signals.

eurnzdrdaily

 

NZD/CAD – NZD/CAD breakout below its 0.9310 support level which had turned into a resistance level where traders may hunt for short setups if price pullback into it. Due to the fact that we do not have a strong breakout to the downside, price could also form a false breakout at the 0.9310 support level and rally higher therefore conservative traders may wait for price to breaks lower before shorting this market for a safer entry.

nzdcadrdaily

 

Euro Swedish Krona – EUR/SEK had a strong breakout yesterday which is likely going to lead price lower into its next support level at 9.5820. The short term momentum is bearish at the moment therefore traders may lookout for potential short setups if price pullback into its 9.6840 resistance level or when price breaks the 9.5820 support level to ride on the bearish momentum.

eursekrdaily

21st December 2016 Market Outlook

Loonie Swiss Franc – CAD/CHF rally higher after price rejected its 0.7625 support level as we expected in our 20th December 2016 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position as we could potentially see price rally back into its 0.7740 key resistance level in the near term.

cadchfrdaily

 

Kiwi Yen – NZD/JPY rejected its 83.35 weekly resistance level last week which could potentially cause price to decline lower in the coming weeks. The short term trend is bullish at the moment therefore conservative traders are recommended to wait for long opportunity while aggressive traders may consider shorting this market as price could potentially decline lower.

nzdjpyrweekly

 

Loonie Dollar – USD/CAD have a strong rejection off its bullish channel line showing that the bulls are still in control of this market. Given that the long term trend is bullish, traders may consider buying into this market and have the first target set near the 1.3660 resistance level.

usdcadrdaily

20th December 2016 Market Outlook

Loonie Swiss Franc – CAD/CHF decline into its 0.7625 support level after price rejected its 0.7740 key resistance level as we expected in our 13th December 2016 Market Outlook. Traders who went short as we recommended may consider taking profits at the 0.7625 support level. If price rejects the 0.7625 support level, we are then likely going to see price rally back up into its 0.7740 key resistance level in the near term.

cadchfrdaily

 

Kiwi Dollar – NZD/USD breakout below its 0.6970–0.6950 support area yesterday which could potentially lead price lower in the coming days. Given that the trend is bearish at the moment, traders may consider shorting this market to ride on the bearish trend. If price pullback into the 0.6970–0.6950 support area, traders may also lookout for potential shorting opportunity especially on the lower time frame charts.

nzdusdrdaily

 

Loonie Yen – CAD/JPY rally all its way up into the 89.33–89.75 resistance area after price breakout above the 82.25 resistance level. Price is showing rejections at the 89.33–89.75 resistance area which could potentially lead price lower in the coming days. The momentum is still bullish though therefore conservative traders may wait for price to breakout above the 89.33–89.75 resistance area before buying into this market to ride on the momentum while aggressive traders may consider shorting this market as price could potentially decline lower in the coming days.

cadjpyrdaily

19th December 2016 Market Outlook

Aussie Dollar – AUD/USD decline lower into its 0.7290 support level after price rejected its 0.7510 resistance level as we expected in our 14th December 2016 Market Outlook. Traders who went short as we recommended may consider taking partial profits off the table at the 0.7290 support level while leaving the rest to run further with a trailing stop behind. If price is able to breakout below the 0.7290 support level, we are then likely going to see further decline into its next support level at 0.7150.

audusdrdaily

 

Aussie Loonie – AUD/CAD fell lower into its 0.9760–0.9733 support area after price rejected its 0.9860 resistance level as we expected in our 13th December 2016 Market Outlook. If price close below the 0.9760–0.9733 support area, we are then likely going to see further decline in the coming days and traders who missed the shorting opportunity may hunt for potential short setups when price pullback to the resistance level.

audcadrh4

 

Aussie Yen – AUD/JPY performed a strong false breakout at the 86.31 resistance level which could potentially lead price lower in the coming days. The short term trend is bullish at the moment therefore conservative traders may wait for potential buying opportunity while aggressive traders may consider shorting this market as price could even retrace all its way back into the 81.40 support level.

audjpyrdaily