31st May 2017 Market Outlook

Euro Dollar – EUR/USD rejected its 1.1125 support level yesterday which is likely going to lead price higher in the coming days. Traders who went long at the 1.1125 support level as we recommended in our 30th May 2017 Market Outlook may consider continue holding onto the long position as there’s no immediate resistance level above which in turns offer traders huge profit margin to trade the long side of the market.

EURUSDrDaily

 

Kiwi Dollar – NZD/USD breakout above its 0.7090–0.7060 resistance area this morning which could potentially open up the door for further rally. If price is able to close above the 0.7090–0.7060 resistance area, traders may then consider hunting for potential buying opportunities to ride on the potential bullish swing.

NZDUSDrDaily

 

Norwegian Krone – USD/NOK formed an indecision candlestick pattern at its 8.4580–8.4380 resistance area yesterday which could lead price higher or lower. Traders may consider long this market if price breakout above yesterday high while a breakdown below yesterday low could potential lead price lower.

USDNOKrDaily

30th May 2017 Market Outlook

Euro Dollar – EUR/USD pullback into its 1.1125 support level yesterday which traders may hunt for potential buy setups especially on the lower time frame charts as the trend is still bullish at the moment. If price breakout below its 1.1125 support level, traders may still hunt for potential buy setups at the next support level at 1.1010 to ride on the bullish trend.

EURUSDrDaily

 

Kiwi Dollar – NZD/USD rejected its 0.7090–0.7060 resistance area yesterday which could potentially lead price lower in the coming days. Given that the market is currently trading within the range of 0.7090–0.7060 resistance area and 0.6820–0.6862 support area, traders may consider shorting this market to jump on the potential bearish swing. There’s huge profit margin for price to move till its 0.6820–0.6862 support area.

NZDUSDrDaily

 

Pound Aussie – GBP/AUD is approaching its 1.7100 key support level. Since the trend is still bullish, traders may consider buying into this market if price pullback into its 1.7100 key support level. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market to avoid false signal.

GBPAUDrDaily

29th May 2017 Market Outlook

Gold – We have a nice little support level below at 1263.00 in Gold which traders may hunt for potential buying opportunities if price pullback into it as the momentum is quite bullish at the moment. Ideally we would prefer to see price rejections or any other confirmation to form around the 1263.00 support level before buying into this market for a safer entry.

XAUUSDrH4

 

Pound Kiwi – GBP/NZD resume its bearish move after a short pause and is currently heading back down toward its 1.7940 support level. If price indeed pullback into the 1.7940 support level, traders may then consider buying into this market. The next key resistance level is located at 1.9000 which offer traders huge profit margin to trade the long side of the market.

GBPNZDrDaily

 

Norwegian Krone – USD/NOK is currently trading just below its 8.4580–8.4380 resistance area. Given that the momentum is bearish at the moment, traders may consider shorting this market to ride on this bearish momentum. Conservative traders may wait for price to pullback higher into its 8.4580–8.4380 resistance area before shorting to reduce the risk.
USDNOKrDaily

26th May 2017 Market Outlook

Loonie Dollar – USD/CAD pullback into its 1.3405–1.3450 support area and had a strong rejection yesterday which could potentially lead price higher in the coming days. Given that the trend is still bullish, traders may consider buying into this market. Conservative traders may wait for price to breakout above Wednesday high before buying into this market as it may serve as a confirmation to filter out false signals.

USDCADrDaily

 

Pound Dollar – GBP/USD is showing weakness and is heading back down to its 1.2845 support level. Price is moving in a range recently therefore traders may hunt for potential buying opportunity around the 1.2845 support level. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market for safer entry.

GBPUSDrH4

 

Swiss Franc Yen – CHF/JPY continue to consolidates below its 115.55–115.25 resistance area over the last few weeks. Given that the trend is bullish at the moment, traders may consider going long if price breakout above its 115.55–115.25 resistance area to ride on the bullish trend. There’s no immediate resistance level above after 115.55–115.25 resistance area which offer traders good profit margin to trade the long side of the market.

CHFJPYrDaily

25th May 2017 Market Outlook

Euro Yen – EUR/JPY continue to rally higher after price rejected its 122.80 support level as we expected in our 19th May 2017 Market Outlook. Traders who went long as we recommended may consider having the stops moved to breakeven or higher while continue holding onto the long position. Price is likely going to continue to rally higher into its 126.35 resistance level in the near term.

EURJPYrDaily

 

Kiwi Dollar – NZD/USD is currently trading within the range of 0.7090–0.7060 resistance area and 0.6820–0.6862 support area and price is currently trading near to its 0.7090–0.7060 resistance area which traders may hunt for potential shorting opportunities. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market for a safer entry.

NZDUSDrDaily

 

Euro Aussie – EUR/AUD is showing weakness as price starts to stall. Given that the trend is still bullish at the moment, traders may consider buying into this market if price pullback into its 1.4880 support level to ride on the bullish trend and have the first target set near 1.5100 resistance level. If price indeed pullback into its 1.4880 support level, traders may then also consider goes down to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.

EURAUDrH4

24th May 2017 Market Outlook

Aussie Dollar – AUD/USD had a strong rejection at its 0.7500–0.7475 resistance area yesterday which could potentially lead price lower in the coming days. Given that the short term 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 0.7330 price level.

AUDUSDrDaily

 

Swiss Franc – USD/CHF rejected its lower end of its channel yesterday which may cause price to bounce back higher before continue its bearish move. Aggressive traders may consider taking a counter trend trade by going long while conservative traders may wait for price to pullback into its 0.9870 resistance level before shorting this market to ride on the bearish trend.

USDCHFrDaily

 

Pound Kiwi – GBP/NZD is showing some bearish sign and could potentially pullback into its 1.8265 support level in the near term. If price indeed pullback into its 1.8265 support level, traders may then consider buying into this market to ride on the bullish trend. Ideally we would prefer to see some price rejections at this 1.8265 support level before buying into this market to avoid false signals.

GBPNZDrDaily

23rd May 2017 Market Outlook

Euro Dollar – EUR/USD continue to rally higher after price rejected its 1.0870–1.0830 support area followed by a breakout of its 1.1125 resistance level. Traders who went long at the 1.0870–1.0830 support area as we recommended in our 12th May 2017 Market Outlook may consider continue holding onto the long position with a trailing stop as there’s no immediate resistance level above until 1.1415.

EURUSDrDaily

 

USD/PLN – USD/PLN continue to decline lower after price breakout below its 3.8000 support level. Traders who shorted this market at the 3.8960 resistance level as we recommended in our 10th May 2017 Market Outlook may consider continue holding onto the short position with a trailing stop as price is likely going to decline all its way down into its 3.7050 support level.

USDPLNrDaily

 

Aussie Dollar – AUD/USD pullback into its 0.7500–0.7475 resistance area yesterday which traders may hunt for potential shorting opportunities as the trend is still bearish at the moment. Ideally we would prefer to see some rejections or any other form of confirmation before shorting this market to avoid false signals.

AUDUSDrDaily

22nd May 2017 Market Outlook

Euro Yen – EUR/JPY rally higher after price rejected its 122.80 support level as we expected in our 19th May 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 126.35 resistance level.

EURJPYrDaily

 

Loonie Dollar – USD/CAD pullback lower into its 1.3500–1.3450 support area on last Friday. Given that the trend is still bullish at the moment, traders may consider buying into this market at the 1.3500–1.3450 support area. Ideally we would prefer to see some rejections or any other form of confirmation before buying into this market to avoid false signals.

USDCADrDaily

 

Euro Aussie – EUR/AUD is approaching its 1.5100 resistance level and could potentially pullback into its 1.4880 support level. Given that the trend is still bullish, conservative traders may wait for price to breakout above its 1.5100 resistance level or pullback into its 1.4880 support level before buying into this market while aggressive traders may consider taking a short term counter trend trade by shorting this market into the 1.4880 support level.

EURAUDrDaily

19th May 2017 Market Outlook

Euro Yen – EUR/JPY pullback into its 122.80 and rejected it yesterday which could potentially lead price higher in the coming days. Given that the trend is bullish at the moment, traders may consider buying into this market to ride on the bullish trend. The next resistance level is not found until 126.35 which offer traders huge profit margin to trade the long side of the market.

EURJPYrDaily

 

Aussie Yen – AUD/JPY decline lower after price performed a false breakout at its 84.00 resistance level as we expected in our 4th May 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 its decline into its 81.40 support level in the near term.

AUDJPYrDaily

 

Aussie Dollar – AUD/USD is approaching its 0.7500–0.7475 resistance area and rejected it yesterday showing potential bearish move. Aggressive traders may consider shorting this market with a bigger stop loss while conservative traders may wait for price to retrace back up deeper into its 0.7500–0.7475 resistance area before shorting for a safer and more favorable risk:reward trade.

AUDUSDrDaily

18th May 2017 Market Outlook

Euro Dollar – EUR/USD blow through our first target of 1.1125 resistance level. Traders who went long as we recommended in our 12th May 2017 Market Outlook may consider taking partial profits off the table and leave the rest to run further with a trailing stop. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side.

EURUSDrDaily

 

Loonie Swiss Franc – CAD/CHF decline significantly lower after price rejected its 0.7380 resistance level as we expected in our 11th May 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 into its 0.7150 support level in the near term.

CADCHFrDaily

 

Silver – Silver pullback into its 16.90 resistance level and formed an indecision candlestick pattern yesterday. Given that the trend is still bearish, traders may consider shorting this market if price breakout below yesterday low (which serve as a confirmation of the bearish setup) and have the first target set near previous swing low.

XAGUSDrDaily