28th April 2017 Market Outlook

Kiwi Dollar – NZD/USD once again pullback into its 0.6890–0.6862 support area earlier today. If price is able to breakout below its 0.6890–0.6862 support area, we are then likely going to see further decline into its 0.6675 support level. Traders may consider short this market at the breakout of 0.6890–0.6862 support area to ride on this bearish momentum.

CADJPYrDaily

 

Loonie Yen – CAD/JPY rejected its 82.25 resistance level which could potentially lead price 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 and have the first target set near the 80.30 support level.

CADJPYrDaily

 

Silver – Silver had a strong decline over the last 2 trading weeks. The bears are still in control of this market therefore traders may consider looking for potential shorting opportunities to jump on this bearish trend. Traders may wait for price to pullback into its 17.75 resistance level before shorting this market for greater risk:reward trade or hunt for potential shorting opportunities on the lower time frame resistance levels.

XAGUSDrH4

27th April 2017 Market Outlook

Euro Kiwi – EUR/NZD shot up significantly higher into its 1.5840–1.5770 resistance area after price breakout above its 1.5460 resistance level as we expected in our 25th April 2017 Market Outlook. Traders who went long at the breakout of 1.5460 resistance level as we recommended may consider scale out the position at the 1.5840–1.5770 resistance area while leaving the rest to run further with a trailing stop behind. If price is able to breakout above the 1.5840–1.5770 resistance area, we are then likely going to see further rally into its next resistance level at 1.6120.

EURNZDrDaily

 

Aussie Yen – AUD/JPY pullback into its 84.00 resistance level and rejected it yesterday. Given that the trend is still bearish at the moment, traders may consider shorting this market as price is likely going to continue its decline into the 81.40 support level in the near term.

AUDJPYrDaily

 

Pound Aussie – GBP/AUD is currently trading at its 1.7170 resistance level. If price is able to breakout above the 1.7170 resistance level, we are then likely going to see further rally into its 1.7780 resistance level. Given that the short term trend is bullish at the moment, traders may consider buying at the breakout of 1.7170 resistance level to ride on this bullish trend.

GBPAUDrDaily

26th April 2017 Market Outlook

Gold – Gold pullback into its 1260.00 support level yesterday which traders may consider looking for potential buying opportunities as the trend is still bullish at the moment. Ideally we would prefer to see some rejections or any other form of confirmation before buying into this market to avoid false signals. The next key resistance area is located at 1308.00–1303.00 which offer traders huge profit margin to trade the long side of the market.

XAUUSDrDaily

 

Euro Dollar – EUR/USD breakout above its 1.0910–1.0870 resistance area yesterday which opened up the door for potential further rally in the coming days as the next resistance level is not found until 1.1125. Given that the short term trend is bullish, traders may consider buying into this market to ride on the bullish trend. Traders may also wait for price to pullback into the 1.0910–1.0870 support area (Previous resistance area) before buying into this market for a more favorable risk:reward trade.

EURUSDrDaily

 

Japanese Yen – USD/JPY continue its rally and is moving closer to its 111.95–111.70 resistance area. Given that the trend is bearish at the moment, traders may consider shorting this market if price pullback into its 111.95–111.70 resistance area and rejects it. Traders may also hunt for potential short setups on the lower time frame charts to fine tune the entry.

USDJPYrDaily

25th April 2017 Market Outlook

USD/PLN – USD/PLN decline lower after price rejected its 3.9800 resistance level as we expected in our 4th April 2017 Market Outlook. Traders who went short as we recommended may consider scale out the position at the current price level to lock in profits while leaving the rest to run further with a trailing stop behind as price could potentially decline all its way down into its 3.8000 key support level in the coming weeks.

USDPLNrDaily

 

Euro Kiwi – EUR/NZD breakout above its 1.5460 resistance level yesterday which could potentially lead price higher into its 1.5840–1.5770 resistance area in the near term. Traders may consider buy into this breakout to ride on this bullish momentum or may wait for price to pullback into support level before buying into this market for a more favorable risk:reward trade.

EURNZDrDaily

 

Pound Aussie – GBP/AUD is facing some obstacles to continue its rally higher which could potentially cause price to pullback lower before rally higher. Given that the trend is bullish at the moment, traders may consider buying into this market if price pullback into the 1.6720 support level to ride on the bullish trend. Ideally we would prefer to see some rejections or any other form of confirmation to form at the 1.6720 support level before buying into this market for a safer entry.

GBPAUDrDaily

24th April 2017 Market Outlook

Euro Loonie – EUR/CAD gap up significantly higher today and could potentially pullback into its 1.4530 support level or even lower to close the gap before rally higher. If price pullback into the support level, traders may consider buying into this market as the trend is clearly bullish at the moment and there’s no significant resistance level above which offer traders huge profit margin to trade the long side of the market.

EURCADrH4

 

Japanese Yen – USD/JPY gap up into its 110.30 resistance level earlier today. Given that the trend is bearish at the moment, traders may consider shorting this market to ride on the bearish trend and have the first target set near previous swing low at around 108.20 price level.

USDJPYrH4

 

Euro Kiwi – EUR/NZD gap up into its key resistance level at 1.5460 which could potentially cause price to move lower into its 1.5330 support level or even lower into its 1.5210 support level to close the gap. The market is trading within a range over the short term while the longer term trend is still bullish. Conservative traders may wait for price to breakout higher before buying into this market while aggressive traders may consider shorting this market.

EURNZDrH4

21st April 2017 Market Outlook

NZD/CAD – NZD/CAD rejected its 0.9440 resistance level yesterday which could potentially result in price decline lower in the coming days. Traders may consider shorting this market as the momentum is slightly bearish at the moment. Ideally we would prefer to have price breakout yesterday low before shorting this market as it could serve as a confirmation to avoid false signals.

NZDCADrDaily

 

Pound Kiwi – GBP/NZD is consolidating below its 1.8265 resistance level. If price is able to breakout above its 1.8265 resistance level, we are then likely going to see further rally coming into this market in the coming days. Given that the recent momentum had been quite bullish, traders may consider buying into this market at the breakout of 1.8265 resistance level to ride on this bullish momentum.

GBPNZDrDaily

 

Aussie Kiwi – AUD/NZD pullback into its 1.0800–1.0770 resistance area earlier today. The short term trend is bearish at the moment therefore traders may hunt for potential shorting opportunities at this resistance area to jump on this bearish trend.

AUDNZDrH4

20th April 2017 Market Outlook

Pound Loonie – GBP/CAD shot up significantly higher after price pullback into its 1.6530–1.6465 support area and rejected it as we expected in our 31st 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 could potentially rally even higher while traders who missed the buying opportunity may consider buying into this market on pullbacks to ride on this bullish momentum.

GBPCADrH4

 

Loonie Swiss Franc – CAD/CHF fell significantly lower after price rejected its 0.7565–0.7540 resistance area as we expected in our 4th April 2017 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 0.7380 support level to lock in profits.

CADCHFrDaily

 

Euro Yen – EUR/JPY is making its way back into its 118.45 resistance level. If price pullback into this resistance level, traders may then consider hunting for potential shorting opportunities around this resistance level as the trend is still bearish at the moment and there’s no immediate support level below to hold price from decline lower.

EURJPYrDaily

19th April 2017 Market Outlook

Swiss Franc – USD/CHF fell lower after price rejected its upper end of the descending channel as we expected in our 17th April 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 declines lower into its 0.9870 support level in the near term.

USDCHFrDaily

 

Euro Pound – EUR/GBP once again retrace back into its 0.8345–0.8300 support area. If price breakout below this support area, we are then likely going to see price declines into its next support level at 0.8105. Traders may consider shorting this market at the breakout of the 0.8345–0.8300 support area to jump on this potential bearish swing.

EURGBPrDaily

 

Pound Dollar – GBP/USD shot up significantly higher after price breakout above its 1.2615–1.2595 resistance area. The momentum is very bullish at the moment and if price pullback into its 1.2700 support level, traders may then hunt for potential buying opportunities to ride on this bullish momentum.

GBPUSDrH4

18th April 2017 Market Outlook

Aussie Loonie – AUD/CAD is losing its strength as price approaches the 1.0155–1.0130 resistance area as we can see through the smaller bullish candles. Aggressive traders may consider shorting this market to jump on this potential bearish swing while conservative may wait for price to pullback into 1.0155–1.0130 resistance area before shorting for a safer entry and a more favorable risk:reward trade.

AUDCADrH4

 

Euro Kiwi – EUR/NZD is making its way back into its 1.5210 resistance level, given that the momentum is bearish after the breakout of its support level, traders may consider hunting for potential shorting opportunities at the 1.5210 resistance level. Ideally we would prefer to see some rejections or any other form of confirmation before shorting this market for a safer entry.

EURNZDrH4

 

Loonie Yen – CAD/JPY breakout below its 82.25 support level last week which had now turned into a resistance level where traders may hunt for potential shorting opportunities especially on the lower time frames chart if price pullback into it to jump on this bearish trend. The next key support level is located at 80.30 which offer traders massive profit margin to trade the short side of the market.

CADJPYrDaily

17th April 2017 Market Outlook

Euro Yen – EUR/JPY continue its decline after price breakout below its 118.45 and 116.30 support level. Given that the trend is bearish at the moment and there’s no immediate support level below, traders may consider shorting this market to ride on the bearish trend. The next support level is located at 112.35 which offer traders massive profit margin to trade the short side of the market.

EURJPYrDaily

 

Swiss Franc – USD/CHF is currently trading within a descending channel and price recently rejected its upper end of the channel which could potentially lead price lower into its 0.9870 support level. Traders may consider shorting this market and have the first target set near the 0.9870 support level and the stop loss set near previous swing high to limit losses in case price reverse back up higher.

USDCHFrDaily

 

Pound Yen – GBP/JPY recently breakout below its 136.45 support level which had now turned into a resistance level. Since the momentum is bearish now, traders may consider shorting this market to ride on the bearish trend. Traders may also wait for price to pullback into its 136.45 resistance level (Previous support level) before shorting for a more favorable risk:reward trade.

GBPJPYrDaily