31st January 2017 Market Outlook

Euro Kiwi – EUR/NZD continue to decline lower after price performed a false breakout at its 1.5120 resistance level as we expected in our 29th December 2016 Market Outlook. Traders who went short as we recommended may consider consider holding onto the short position as price breakout the 1.4720 support level yesterday which opened up the door for potential further decline. Traders who missed the earlier shorting opportunity may hunt for potential short selling setups if price pullback into its 1.4720 resistance level (Previous support level) to jump on this bearish trend.

EURNZDrH4

 

Pound Dollar – We are seeing lower highs and lower lows in GBP/USD shorter time frame charts which shows that the bears are taking control of the short term trend. We have a short term resistance level above at 1.2530 which traders may hunt for potential short setups if price pullback into the 1.2530 resistance level. Ideally we would prefer to see price rejections at the 1.2530 resistance level before shorting this market to avoid false signals.

GBPUSDrH1

 

China Offshore Yuan – USD/CNH is currently trading at its 6.8540 support level and it seems that the bulls are losing its strength to push price higher over the shorter time period. If price breakout below the 6.8540 support level, we are then likely going to see price decline lower into its next support level at 6.8360. Short term traders may consider shorting this market at the breakout of 6.8540 support level for a quick short term trade.

USDCNHrH1

30th January 2017 Market Outlook

Aussie Loonie – AUD/CAD decline lower into its 0.9860 support level after price rejected its 1.0090 resistance level as we expected in our 25th January 2017 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 0.9860 support level. Price could potentially bounce off the 0.9860 support level before continue to decline lower.

AUDCADrDaily

 

Japanese Yen – USD/JPY once again pullback into its 115.30 resistance level and rejected it which could potentially lead price lower in the coming days. Traders may consider to short this market as we are in a short term trading range and price could potentially decline lower into its 112.55 support level in the near term.

USDJPYrH4

 

Euro Dollar – EUR/USD is making its way back into its 1.0600 support level which traders may hunt for potential buying opportunity to jump on the short term bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market to avoid getting into false signal.

EURUSDrH4

27th January 2017 Market Outlook

Norwegian Krone – USD/NOK decline lower into its 8.3520–8.2950 support area after price rejected its 8.7200 resistance level as we expected in our 6th January 2017 Market Outlook. Traders who went short as we recommended may consider taking profits at the 8.3520–8.2950 support area. If price breakout below its 8.3520–8.2950 support area, we are then likely going to see further decline in this market in the coming days.

USDNOKrDaily

 

Silver – Silver starts to decline after price rejected its 17.20 resistance level as we expected in our 19th January 2017 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 and may retest its 15.90 support level in the coming weeks.

XAGUSDrDaily

 

Kiwi Dollar – NZD/USD pullback into its 0.7220 support level which traders may hunt for potential buying opportunity to ride on this bullish trend. The next resistance level is not found until 0.7370 which offer traders massive profit margin to trade the long side of the market.

NZDUSDrH4

26th January 2017 Market Outlook

Euro Kiwi – EUR/NZD decline lower after price performed a false breakout at its 1.5120 resistance level as we expected in our 29th December 2016 Market Outlook. Traders who went short as we recommended may consider taking partial profits off the table at current price level to lock in profits while leaving the rest to run further with a trailing stop behind. If price is able to breakout below its previous swing low, we are then likely going to see further decline in this market.

EURNZDrDaily

 

Gold – Gold formed a double top chart pattern at its 1202.00 resistance level which could potentially cause price to decline lower in the coming days. Given that the trend is still bearish at the moment, traders may consider shorting this market if price confirms this double top chart pattern by closing below its neckline to ride on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

XAUUSDrH4

 

Pound Loonie – GBP/CAD rally back up into its resistance level after rejected its 1.5940 key support level. Given that the trend is still bearish, traders may consider shorting this market to ride on the bearish trend. Traders may also wait for price rejections or any other confirmation such as waiting for price to close below Tuesday low before shorting to avoid false signals.

GBPCADrDaily

25th January 2017 Market Outlook

Euro Loonie – EUR/CAD decline lower after price rejected its 1.4380–1.4310 resistance area as we expected in our 24th January 2017 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 into its next support level at 1.3860–1.3820 support area in the near term.

EURCADrDaily

 

Kiwi Dollar – NZD/USD continue to rally higher and we now have a nice short term support level below current price level at 0.7220 which traders may hunt for potential buying opportunity if price pullback into the support level. Ideally we would prefer to see price rejects the 0.7220 or any other confirmation before buying into this market for a safer entry.

NZDUSDrH4

 

Aussie Loonie – AUD/CAD fell lower after price rejected its 1.0090 resistance level yesterday. The short term momentum is bearish as price rejected the 1.0090 key resistance level therefore traders may consider shorting this market to ride on the bearish momentum. Price is likely going to continue its decline into its next support level at 0.9860.

AUDCADrDaily

24th January 2017 Market Outlook

Japanese Yen – USD/JPY decline lower into its 112.55 support level after price rejected its 115.30 resistance level as we expected in our 20th January 2017 Market Outlook. Traders who went short as we recommended may consider taking partial profits off the table at this 112.55 support level to lock in profits while leaving the rest of the position to run further with a trailing stop behind. If price is able to breakout below its 112.55 support level, we are then likely going to see further decline in the coming days.

USDJPYrH4

 

Euro Pound – EUR/GBP is making its way back into its 0.8570 support level. Given that the trend is still bullish, traders may consider buying into this market if price pullback into the 0.8570 support level. Ideally we would prefer to see price rejections or any other confirmation to form at this 0.8570 support level before buying into this market to avoid false signals.

EURGBPrH4

 

Euro Loonie – EUR/CAD once again pullback into its 1.4380–1.4310 resistance area which could offer traders another shorting opportunity to short this market to ride on this bearish trend. If price rejects the 1.4380–1.4310 resistance area and starts to falls off, we are then likely going to see price head south till the 1.3860–1.3820 support area in the coming weeks.

EURCADrDaily

23rd January 2017 Market Outlook

Euro Aussie – EUR/AUD decline lower into its 1.4130 support level after price performed a false breakout at its 1.4580–1.4510 resistance area as we expected in our 4th January 2017 Market Outlook. Traders who went short as we recommended may consider taking profits at the 1.4130 support level. Given that the trend is still bearish at the moment, conservative traders may wait for price to breakout lower before continue to short this market while aggressive traders may consider buying into this market for a quick counter trend trade back into its 1.4580–1.4510 resistance area.

EURAUDrDaily

 

Japanese Yen – USD/JPY decline lower after price rejected its 115.30 resistance level as we expected in our 20th January 2017 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.

USDJPYrH4

 

Euro Dollar – EUR/USD rallied higher after price rejected its 1.0650 support level as we expected in our 18th January 2017 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 continue to rally higher into its 1.0855–1.0820 resistance area in the near term.

EURUSDrH4

20th January 2017 Market Outlook

Aussie Dollar – AUD/USD rally higher after price pullback into its 0.7500 support level and rejected it as we expected in our 18th January 2017 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 continue to rally higher in the coming days.

AUDUSDrH4

 

Japanese Yen – USD/JPY rejected its 115.30 resistance level earlier today which could potentially lead price lower in the coming days. Although the longer term trend is still bullish, the short term momentum is bearish at the moment therefore traders may consider shorting this market to ride on the bearish momentum. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

USDJPYrH4

 

Pound Yen – GBP/JPY is making its way back into its 143.00–142.50 resistance area which traders may consider shorting as the momentum is bearish at the moment. Ideally we would prefer to see price rejects the 143.00–142.50 resistance area before shorting this market to avoid any potential false signals.

GBPJPYrH4

19th January 2017 Market Outlook

Loonie Dollar – USD/CAD rally back into its bullish channel after price rejected its 1.3080–1.3010 support area yesterday which could potentially lead price higher in the coming days. Price is currently trading at the lower end of the trading range of 1.3660–1.3590 resistance area and 1.3080–1.3010 support area which increase the odds of price rally higher therefore traders may consider buying into this market to ride on the potential bullish swing.

USDCADrDaily

 

Silver – Silver rejected its 17.20 resistance level yesterday which could potentially cause price to decline lower in the coming days. Given that the trend is still bearish at the moment, traders may consider shorting this market to ride on the bearish trend. The next key support level is located at 15.90 which offer traders huge profit margin to trade the short side of the market.

XAGUSDrDaily

 

Aussie Loonie – AUD/CAD breakout above its 0.9860 resistance level yesterday which opened up the door for potential further rally. Traders may consider buying into this market to ride on the bullish momentum as price is likely going to continue its rally into its 1.0090 resistance level in the coming days

AUDCADrDaily

18th January 2017 Market Outlook

Silver – Silver rally into its 17.20 resistance level after price rejected its 15.90 support level as we expected in our 3rd January 2017 Market Outlook. Traders who went long as we recommended may consider taking profits or scale out the position at the 17.20 resistance level. If price rejects the 17.20 resistance level, we could potentially see price decline lower in the coming days while if price is able to breakout above the 17.20 resistance level, we could see further rally as there’s no immediate resistance level above.

XAGUSDrDaily

 

Euro Dollar – We have a short term support level in EUR/USD at 1.0650 which traders may hunt for potential buying opportunity as the momentum is quite bullish at the moment. If price pullback into the 1.0650 support level and rejected it, chances are the bulls will continue to push price up higher into its 1.0855–1.0820 resistance area therefore traders may hunt for buy setups near the 1.0650 support level.

EURUSDrH4

 

Aussie Dollar – AUD/USD failed to decline lower after price rejected its 0.7500 resistance level and breakout above it which turned the 0.7500 resistance level into a support level. Price is likely going to continue to rally higher after took out the 0.7500 resistance level therefore traders may consider buying into this market to ride on the bullish momentum. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

AUDUSDrH4