31st March 2017 Market Outlook

Loonie Yen – CAD/JPY rally higher after price rejected its 82.25 support level as we expected in our 28th March 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 pullback into its 84.85 resistance level in the near term. Once price pullback into its 84.85 resistance level, traders may hunt for potential shorting opportunities as the trend is still bearish at the moment.

CADJPYrDaily

 

Euro Kiwi – EUR/NZD once again pullback into its 1.5230–1.5160 support area which traders may hunt for potential buying opportunities. Although the long term trend is still bearish, the short term trend is bullish therefore traders may consider buying into this market. Ideally we would prefer to see some rejections or any other form of confirmation to form at the 1.5230–1.5160 support area before buying into this market to avoid false signals.

EURNZDrDaily

 

Pound Loonie – GBP/CAD pullback into its 1.6530–1.6465 support area yesterday which traders may hunt for potential buying opportunities. The momentum is still bullish and there’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

GBPCADrH4

30th March 2017 Market Outlook

Kiwi Yen – NZD/JPY is currently trading at its 77.60 support level and is showing some rejections at this 77.60 support level which could potentially lead price bounce off from its 77.60 support level back into its 79.30 resistance level. Given that the trend is bearish at the moment, conservative traders may want to wait for price to pullback into the 79.30 resistance level or a breakout of its 77.60 support level before shorting this market while aggressive traders may consider taking a quick short term counter trend trade at this 77.60 support level as price could potentially pullback into its 79.30 resistance level.

NZDJPYrDaily

 

Euro Loonie – We have a nice little support level below at 1.4270 in EUR/CAD which traders may hunt for potential buying opportunities if price pullback into its 1.4270 support level. Ideally we would prefer to see some rejections or any other form of confirmation before buying into this market for a safer entry.

EURCADrDaily

 

Kiwi Dollar – NZD/USD is currently trading within the range of 0.7070 resistance level and 0.6995 support level. Price is likely going to continue to trade within this trading range therefore traders may consider shorting this market when price pullback into its 0.7070 resistance level and buy into this market at the lower end of this trading range.

NZDUSDrH1

29th March 2017 Market Outlook

Euro Dollar – EUR/USD pullback into its 1.0820–1.0800 support area closing its Monday gap as we expected in our 28th March 2017 Market Outlook. Given that the trend is bullish at the moment, traders may consider hunting for potential buying opportunity at this 1.0820–1.0800 support area. Ideally we would prefer to see some rejections off this support area or any other form of confirmation before buying into this market for a safer entry.

EURUSDrH4

 

Japanese Yen – USD/JPY is bouncing off from its lower prices and is moving back into its 111.95–111.70 resistance area. Given that the trend is still bearish, traders may consider shorting this market if price pullbacks into the 111.95–111.70 resistance area and rejects it.

USDJPYrH4

 

Euro Aussie – EUR/AUD pullback into its 1.4130 support level yesterday which traders may lookout for potential buying opportunities especially on the lower time frame charts. The long term trend is still bearish at the moment but the short term trend is showing bullish sign. Aggressive traders may want to buy into this market for a quick short term trade.

EURAUDrDaily

28th March 2017 Market Outlook

Euro Dollar – EUR/USD breakout above its 1.0820 resistance level which now turned into a support level. Given that the trend is still bullish at the moment, traders may consider buying into this market especially if price pullback into its 1.0820 support level (Previous resistance level) to ride on this bullish momentum. Since the Monday gap is yet to be filled, we could potentially see price pullback to fill the price gap before rally higher.

EURUSDrH4

 

Loonie Yen – CAD/JPY is currently trading at its 82.25 support level which could potentially cause price to bounce back to its resistance level before continue to decline lower. Since the trend is bearish at the moment, conservative traders may consider waiting for price to pullback into the 84.85 resistance level or wait for a breakout of 82.25 support level before shorting this market while aggressive traders may consider taking a short term counter trend trade at this 82.25 support level as price might bounce off from this 82.25 support level.

CADJPYrDaily

 

USD/PLN – USD/PLN has been moving lower in a strong fashion over the last few trading weeks showing that the bears are fully in control of this market. Given that the trend is bearish at the moment, traders may consider shorting this market especially if price pullback into its resistance level as it would offer more favorable risk:reward trade.

USDPLNrDaily

27th March 2017 Market Outlook

Aussie Yen – AUD/JPY decline lower into its 83.75 support level after price breakout below its ascending triangle consolidation as we expected in our 23rd March 2017 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 83.75 support level to lock in profits. If price breakout below the 83.75 support level, we are then likely going to see further decline into its next support level at 81.40.

AUDJPYrDaily

 

Aussie Kiwi – AUD/NZD is making its way back into its 1.0770–1.0740 support area. If price pullback into the 1.0770–1.0740 support area, traders may then consider looking out for buying opportunity as the trend is still bullish at the moment. Ideally we would prefer to see some rejections at the 1.0770–1.0740 support area before buying into this market for a safer entry.

AUDNZDrDaily

 

Euro Pound – EUR/GBP pullback into its 0.8670 resistance level earlier today which traders may hunt for potential shorting opportunity as the short term momentum is bearish at the moment. If price rejects this resistance level and starts to decline, we are then likely going to see price decline into its 0.8610 support level in the near term.

EURGBPrH4

24th March 2017 Market Outlook

Japanese Yen – USD/JPY breakout below its support level which now turned into a resistance area where traders may hunt for shorting opportunity if price pullback into it. Traders who went short at the 115.35 resistance level as we recommended in our 13th March 2017 Market Outlook may consider continue holding onto the short position with a trailing stop behind and may scale into the short position if price pullback into its 111.95–111.70 resistance area.

USDJPYrH4

 

Aussie Dollar – AUD/USD started to decline lower after price rejected its 0.7755–0.7730 key resistance area as we expected in our 22nd March 2017 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 and could potentially retest its 0.7500 key support level in the coming weeks.

AUDUSDrDaily

 

Euro Dollar – EUR/USD rejected its 1.0820 resistance level and started to moves lower. The short term trend is still bullish at the moment therefore conservative traders may consider waiting for price to pullback into its 1.0710 support level before buying into this market while aggressive traders may consider shorting this market and have the first profit target set around 1.0710 support level.

EURUSDrH4

23rd March 2017 Market Outlook

Kiwi Yen – NZD/JPY continue to decline lower after price breakout below its 79.30 support level as we expected in our 8th March 2017 Market Outlook. Traders who went short at the breakout of 79.30 support level and at the breakout of 80.75 support level as we recommended in our 27th February 2017 Market Outlook may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue its decline into its 77.60 support level in the near term.

NZDJPYrDaily

 

Aussie Yen – AUD/JPY breakout below its ascending triangle consolidation earlier this week which opened up the door for potential further losses in the coming days. Traders may consider shorting this market as price is likely going to decline lower in the coming days. There’s no immediate support level below which offer traders good profit margin to trade the short side of the market.

AUDJPYrDaily

 

Loonie Yen – We have a nice little resistance level above in CAD/JPY which traders may hunt for potential shorting opportunity if price pullback into it as the trend is bearish at the moment. The next key support level is not found until 82.25 which offer traders huge profit margin to trade the short side of the market.

CADJPYrDaily

22nd March 2017 Market Outlook

Japanese Yen – USD/JPY decline lower into its 111.70–111.30 support area after price rejected its 116.05–115.35 resistance area as we expected in our 13th March 2017 Market Outlook. Traders who went short as we recommended may consider taking profits at this 111.70–111.30 support area or scale out the position and trail the stops for the remaining position. If price is able to breakout below the 111.70–111.30 support area, we are then likely going to see further decline coming into this market in the coming days. On the other hand, a strong rejection of 111.70–111.30 support area could potentially reverse price back up into its 116.05–115.35 resistance area.

USDJPYrDaily

 

Euro Dollar – EUR/USD rally into its 1.0820 resistance level as we expected in our 20th March 2017 Market Outlook. The momentum is bullish at the moment but we are currently at a key resistance level which might push price back down. However if price is able to breakout above the 1.0820 resistance level, traders may then consider buying into this market to ride on the bullish momentum.

EURUSDrH4

 

Aussie Dollar – AUD/USD had a strong rejection off its 0.7755–0.7730 key resistance area yesterday which is likely going to lead price lower in the coming days. Given that the recent momentum is bullish, conservative traders may want to wait for price to breakout above its 0.7755–0.7730 key resistance area or a pullback into its support level before buying into this market while aggressive traders may consider short this market as the strong rejection we have yesterday shows that the bears are gaining control of this market.

AUDUSDrDaily

21st March 2017 Market Outlook

Aussie Dollar – AUD/USD shot up higher into its 0.7755–0.7730 key resistance area after price rejected its 0.7500 support level as we expected in our 13th March 2017 Market Outlook. Traders who went long as we recommended may consider taking profits at this 0.7755–0.7730 key resistance area or scale out the position while leaving the rest to run further with a trailing stop behind. If price is able to breakout above its 0.7755–0.7730 key resistance area, we are then likely going to see further rally coming into this market in the near term.

AUDUSDrDaily

 

Kiwi Dollar – NZD/USD rally higher after price bounce off from its 0.6890 support level as we expected in our 10th March 2017 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 0.7135 resistance level in the coming weeks.

NZDUSDrH4

 

NZD/CAD – NZD/CAD rejected its short term resistance level at 0.9420 which traders may consider shorting this market for a quick short term trade and have the first target set near 0.9375 support level as price could potentially bounce off from this short term support level and rally higher.

NZDCADrH4

20th March 2017 Market Outlook

Pound Dollar – GBP/USD pullback into its 1.2420–1.2400 resistance area last Friday which traders may hunt for potential shorting opportunities. Ideally we would prefer to see some strong rejections or any other form of confirmations at this 1.2420–1.2400 resistance area before shorting to avoid false signals. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

GBPUSDrH4

 

Euro Dollar – EUR/USD shot up significantly higher after price rejected its 1.0630 support level. Given that the momentum is bullish at the moment, traders may consider lookout for potential short term buying opportunities especially on the lower time frame to ride on this bullish momentum until price hit its next resistance level at 1.0820.

EURUSDrH4

 

Aussie Yen – AUD/JPY continue its consolidation and the triangle chart pattern is getting tighter which could lead to an explosive breakout either to the upside or to the downside. If price breakout above its 88.10–87.55 resistance area, we are then likely going to see further rally coming into this market in the following weeks. On the other hand, a breakout to the downside could potentially lead price reverse back down.

AUDJPYrDaily