31st July 2017 Market Outlook

Loonie Dollar – USD/CAD rejected its 1.2550 resistance level and decline lower as we expected in our 28th July 2017 Market Outlook. Traders who went short as we recommended may consider taking partial profits at its previous swing low at around 1.2420 while leaving the rest to run further with a trailing stop. If price is able to breakout below its previous swing low, we are then likely going to see further decline coming into this market in the coming days.

USDCADrH4

 

Japanese Yen – USD/JPY breakout below its 110.85–110.75 support area last week which opened up the door for potential further decline. Given that the recent momentum has been very bearish, traders may consider shorting this market to ride on this bearish swing. Traders may also wait for price to pullback into its 110.85–110.75 resistance area (Previous support area) before shorting this market for a more favorable risk:reward trade.

USDJPYrH4

 

Loonie Swiss Franc – CAD/CHF is in a strong bullish trend and we have a nice little support area below at 0.7720–0.7700 which traders may hunt for potential buying opportunities if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market to avoid false signals.

CADCHFrDaily

28th July 2017 Market Outlook

Swiss Franc Yen – CHF/JPY pullback into its 115.00114.70 support area yesterday. Given that the long term trend is still bullish, traders may consider buying into this market to ride on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market for a safer entry.

CHFJPYrDaily

 

Loonie Dollar – USD/CAD pullback into its 1.2550 resistance level yesterday after bouncing off from its lower price. The overall trend is still bearish therefore traders may consider shorting this market to ride on this bearish trend. However the bearish swing has been quite extensive over the last few days which could potentially cause price to bounce higher therefore traders who intend to short may want to have a more conservative targets and stops.

USDCADrH4

 

Kiwi Dollar – NZD/USD is in a nice bullish trend and we have two nice support levels below at 0.7455 and 0.7370 where traders may hunt for potential buying opportunities. Ideally we would prefer to see some price rejections and any other form of confirmation before buying into this market to avoid false signals. There’s no immediate resistance level above which offer traders good profit margin to trade the long side of the market.

NZDUSDrH4

27th July 2017 Market Outlook

Swiss Franc – USD/CHF rejected its 0.9560 resistance level yesterday which could potentially lead price lower in the coming days. Given that the trend is still bearish, traders may consider shorting this market to ride on the bearish trend. There’s no immediate support level below which offer traders good profit margin to short this market.

USDCHFrDaily

 

Pound Kiwi – GBP/NZD decline lower into its 1.7385 support level after price rejected its 1.7940 resistance level as we expected in our 20th July 2017 Market Outlook. Traders who went short as we recommended may consider taking partial profits off the table at the 1.7385 support level to lock in profits while leaving the rest of the short position to run further with a trailing stop behind. If price is able to breakout below its 1.7385 support level, we are then likely going to see further decline coming into this market in the coming weeks.

GBPNZDrDaily

 

Loonie Dollar – USD/CAD decline lower after price breakout below its 1.2550 support level as we expected in our 21st July 2017 Market Outlook. Traders who went short at the breakout of 1.2550 support level and the breakout of its 1.3010–1.2970 support area as we recommended in our 5th July 2017 Market Outlook may consider continue holding the short position with a trailing stop behind as there’s no immediate support level below which offer traders huge profit margin to stay short.

USDCADrDaily

26th July 2017 Market Outlook

Aussie Yen – AUD/JPY shot up higher after price pullback into its 88.10–87.55 support area and rejected it as we expected in our 25th July 2017 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as the trend is still bullish and there’s no immediate resistance level above.

AUDJPYrDaily

 

Loonie Yen – CAD/JPY breakout above its 89.33–88.75 resistance area yesterday which could potentially lead price higher in the coming weeks. Given that the trend is still bullish, traders may consider buying into this market to ride on the bullish trend. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side of the market.

CADJPYrDaily

 

Swiss Franc – USD/CHF is making its way back into its 0.9560 resistance level. If price indeed pullback into the 0.9560 resistance level, traders may then consider shorting this market as the long term trend is still bearish. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signals.

USDCHFrDaily

25th July 2017 Market Outlook

Pound Yen – GBP/JPY is moving back up into its 145.40 resistance level. Given that the short term trend is bearish at the moment, traders may consider shorting this market if price pullback into its 145.45 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signals.

GBPJPYrH4

 

Loonie Dollar – USD/CAD could potentially decline lower after price breakout below its 1.2550 support level as we discussed in our 21st July 2017 Market Outlook. Traders who went short at the breakout of its 1.3010–1.2970 support area as we recommended in our 5th July 2017 Market Outlook may consider continue holding the short position with a trailing stop behind as there’s no immediate support level below which offer traders huge profit margin to stay short.

USDCADrDaily

 

Aussie Yen – AUD/JPY pullback into its 88.10–87.55 support area and rejected it yesterday which could potentially lead price higher in the coming days. Since the overall trend is still bullish, traders may consider buying into this market to jump on the bullish trend. The next key resistance level is located at 90.70 which offer traders massive profit margin to trade the long side of the market.

AUDJPYrDaily

24th July 2017 Market Outlook

Pound Kiwi – GBP/NZD decline lower after price rejected its 1.7940 resistance level as we expected in our 20th July 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. Traders may also have the first target set near its previous swing low at around 1.7350 price level.

GBPNZDrDaily

 

Loonie Yen – CAD/JPY is currently consolidating at its 89.33–88.75 resistance area. Given that the trend is bullish at the moment, traders may consider buying into this market if price breakout above its 89.33–88.75 resistance area. On the other hand, if price fails to breakout higher, we are then likely going to see price declines lower in the coming weeks.

CADJPYrDaily

 

Aussie Loonie – AUD/CAD performed a false breakout at its 0.9980 resistance level. Given that the short term trend is bearish, traders may consider shorting this market to jump on the short term bearish trend and have the stop loss set above recent swing high to limit the losses if price doesn’t moves in our favor. Traders may also have the first target set near previous swing low at around 0.9740 to lock in profits if price declines lower.

AUDCADrDaily

21st July 2017 Market Outlook

Euro Dollar – EUR/USD shot up higher into its 1.1615 resistance level after price breakout above its 1.1415 resistance level as we expected in our 3rd July 2017 Market Outlook. Traders who went long at the breakout of 1.1415 resistance level and those who bought at the rejection of 1.1125 support level as we recommended in our 22nd June 2017 Market Outlook may consider continue scale out the position at this 1.1615 resistance level while leaving the rest to run further with a trailing stop behind. The next resistance level is located at 1.1710 which traders may have it set as another target for long positions.

EURUSDrDaily

Loonie Dollar – USD/CAD decline all its way down into its 1.2550 support level as we expected in our 13th July 2017 Market Outlook. Traders who went short at the breakout of its 1.3010–1.2970 support area as we recommended in our 5th July 2017 Market Outlook may consider taking profits at this 1.2550 support level or scale out the position to lock in profits. If price is able to breakout below its 1.2550 support level, we are then likely going to see further decline coming into this market in the coming weeks.

USDCADrDaily

 

Swiss Franc – USD/CHF declines lower into its 0.9500 support level after price rejected its 0.9640 resistance level as we expected in our 7th July 2017 Market Outlook. Traders who went short as we recommended may consider taking profits at the 0.9500 key support level to bank in the profits. If price is able to breakout below its 0.9500 key support level, we are then likely going to see another strong decline coming into this market in the near term.

USDCHFrDaily

20th July 2017 Market Outlook

Pound Dollar – GBP/USD pullback into its 1.3025 support level early this week which traders may lookout for potential shorting opportunity as the short term trend is still bullish at the moment. Ideally we would prefer to see some price rejections or any other confirmation before buying into this market to avoid false signals.

GBPUSDrH4

 

Euro Loonie – EUR/CAD get pushed down immediately after price rejected its 1.4670 resistance level showing that the bears are in control of this market. Given that the trend is still bearish, traders may hunt for potential short setups when price retrace or short this market at the breakout of 1.4500 support level to ride on this strong bearish trend.

EURCADrH4

 

Pound Kiwi – GBP/NZD rejected its 1.7940 resistance level yesterday which could potentially lead price lower in the coming days. There’s no immediate support level below which offer traders decent profit margin to trade the short side of the market. Traders may also consider taking partial profits off the table at the recent swing low at around 1.7370 price level.

GBPNZDrDaily

19th July 2017 Market Outlook

Euro Dollar – EUR/USD shot up higher after price breakout above its 1.1415 resistance level as we expected in our 3rd July 2017 Market Outlook. Traders who went long at the breakout of 1.1415 resistance level and those who bought at the rejection of 1.1125 support level as we recommended in our 22nd June 2017 Market Outlook 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 next resistance level at 1.1615 in the near term.

EURUSDrDaily

 

Aussie Dollar – AUD/USD breakout above its 0.7848 resistance level yesterday in a strong fashion which could potentially lead price continue to rally higher in the coming days. However we would recommend traders to wait for price to pullback into its support level before buying into this market to avoid getting into this bullish trend too late which could result in a huge loss.

AUDUSDrDaily

 

Swiss Franc – USD/CHF finally decline lower after price rejected its 0.9640 resistance level as we expected in our 7th July 2017 Market Outlook. Traders who went short as we recommended may consider holding onto the short position as price is likely going to continue to decline lower into its next key support level at 0.9500 in the coming days.

USDCHFrDaily

18th July 2017 Market Outlook

Silver – Silver pullback into its 16.28–16.10 resistance area yesterday 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 some price rejections or any other form of confirmation before shorting this market to avoid false signals. Traders may also goes down to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.

XAGUSDrDaily

 

Pound Dollar – GBP/USD is making its way back into its 1.3025 support level and if price indeed pullback into the 1.3025 support level, traders may then hunt for potential buy setups to jump on the recent strong bullish momentum. Traders who already long this market may scale in the long position if price pullback into its 1.3025 support level to maximize the potential profits of this bullish momentum.

GBPUSDrH4

 

Swedish Krona – USD/SEK breakout below its 8.3400 support level last Friday which opened up the door for potential further decline. Traders may consider shorting this market to ride on the bearish trend. Conservative traders may also wait for price to pullback into its 8.3400 resistance level (Previous support level) before shorting this market for a more favorable risk:reward trade. The next support level is not found until 8.1000 which offer traders massive profit margin to trade the short side of the market.

USDSEKrDaily