31st August 2017 Market Outlook

Pound Dollar – GBP/USD starts to decline lower after price rejected its 1.2950 resistance level. Given that the short term trend is bearish at the moment, traders may consider shorting this market to ride on this bearish momentum and have the first target set near previous swing low at around 1.2780 price level.

GBPUSDrDaily

 

Kiwi Dollar – NZD/USD breakout below its 0.7230–0.7210 support area which had now turned into a resistance area where traders may consider hunting for potential shorting opportunities if price pullback into it to ride on the bearish momentum. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signals.

NZDUSDrDaily

 

Gold – Gold is making its way back into its 1295.00 support level. Since the trend is still bullish at the moment, traders may consider buying into this market if price pullback into its 1295.00 support level.There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

XAUUSDrH4

30th August 2017 Market Outlook

Euro Aussie – EUR/AUD pullback into its 1.5000–1.4960 support area earlier today which traders may consider hunt for potential buying opportunities as the overall trend is still bullish at the moment. Ideally we would prefer to see some rejections or any other form of confirmations before buying into this market to avoid false signals.

EURAUDrH4

 

Swiss Franc Yen – CHF/JPY rally higher after price rejected its 112.60 support level. Since the trend is still bullish at the moment, traders may consider buying into this market to ride on the bullish trend. The next resistance level is located at 118.40 which offer traders huge profit margin to trade the long side of the market.

CHFJPYrDaily

 

China Offshore Yuan – USD/CNH has established a new bearish trend which traders may consider shorting to ride on the bearish trend. Due to the fact that the bearish trend is still fresh, we could potentially see a long bearish trend coming into this market. Traders may consider shorting this market or wait for a pullback into resistance level before shorting for a more favorable risk:reward trade.

USDCNHrDaily

29th August 2017 Market Outlook

Gold – Gold breakout above its 1295.00 resistance level yesterday which opened up the door for potential further rally. Given that the recent momentum has been bullish, traders may consider buying into this market to ride on the bullish trend. Traders may also wait for price to pullback into its 1295.00 support level (Previous resistance level) for a more favorable risk:reward trade.

XAUUSDrDaily

 

Japanese Yen – USD/JPY is trying to breakout below its 108.70 support level. Given that the trend is still bearish, traders may consider shorting this market at the breakout of 108.70 support level. There’s no immediate support level below after 108.70 support level which offer traders huge profit margin to trade the short side of the market.

USDJPYrH4

 

Euro Aussie – EUR/AUD continue to rally higher after price breakout above its 1.5000 key resistance level. Traders who went long at the rejection of 1.4760 support level as we recommended in our 18th August 2017 Market Outlook may consider continue holding onto the long position as price is likely going to continue its rally in the coming days.

EURAUDrH4

28th August 2017 Market Outlook

Euro Dollar – EUR/USD rallied higher after price rejected its 1.1710 support level as we expected in our 10th August 2017 Market Outlook. Traders who went long as we recommended may consider scale out the position to lock in profits and leave the rest position to run further with a trailing stop behind. Given that the trend is still bullish, price is likely going to continue to rally higher in the coming days.

EURUSDrDaily

 

Euro Aussie – EUR/AUD rally higher after price rejected its 1.4760 support level as we expected in our 18th August 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 its rally after breakout above its 1.5000 key resistance level which is also a big round number and psychological level.

EURAUDrH4

 

Norwegian Krone – USD/NOK continue its decline after price rejected its 8.0000–7.9800 resistance area as we expected in our 15th August 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 in the coming weeks as there’s no immediate support level below to stop price from declining lower.

USDNOKrDaily

25th August 2017 Market Outlook

Euro Kiwi – EUR/NZD continue to rally higher after price rejected its 1.6000 key support level as we expected in our 22nd August 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 continue rally higher. Traders who missed the buying opportunity may wait for price to pullback into its 1.6230 support level before buying into this market.

EURNZDrH4

 

Pound Dollar – GBP/USD decline lower after price rejected its 1.2840–1.2830 resistance area. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as there’s no immediate support level below. The next support level is not found until 1.2660 which offer traders massive profit margin to trade the short side of the market.

GBPUSDrH4

 

NZD/CAD – NZD/CAD continue its decline after price breakout below its 0.9200 key support level as we expected in our 16th August 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 decline lower in the coming weeks.

NZDCADrWeekly

24th August 2017 Market Outlook

Euro Pound – EUR/GBP rally higher after price breakout above its 0.9140 resistance level as we expected in our 22nd August 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 weeks as there’s no immediate resistance level above. Traders who missed this buying opportunity may still lookout for potential buy setups when price pullback into support level.

EURGBPrDaily

 

Norwegian Krone – USD/NOK fell lower after price rejected its 8.0000–7.9800 resistance area as we expected in our 15th August 2017 Market Outlook. Traders who went short as we recommended may consider scale out the position at previous swing low at around 7.8500 support level while leaving the rest to run further with a trailing stop behind as price could potentially continue to decline lower in the coming days.

USDNOKrDaily

 

Pound Dollar – We have a nice little resistance area above at 1.2840–1.2830 in GBP/USD which traders may hunt for potential shorting opportunities if price pullback into it as the trend is bearish at the moment. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

GBPUSDrH4

23rd August 2017 Market Outlook

Euro Kiwi – EUR/NZD rally into its 1.6230 resistance level after price rejected its 1.6000 key support level as we expected in our 22nd August 2017 Market Outlook. Traders who went long as we recommended may consider taking partial profits off the table at the 1.6230 resistance level while leaving the rest to run further with a trailing stop behind. If price is able to breakout above its 1.6230 resistance level, we are then likely going to see further rally coming into this market in the coming days.

EURNZDrH4

 

NZD/CAD – NZD/CAD breakout below its 0.9200 key support level and fell lower as we expected in our 16th August 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 decline lower in the coming weeks.

NZDCADrWeekly

 

Aussie Kiwi – AUD/NZD had been quite bullish over the last few weeks. Given that the short term trend is bullish at the moment, traders may consider buying into this market to ride on the bullish trend. Traders may also wait for price to pullback into support level before buying into this market for a more favorable risk:reward trade.

AUDNZDrDaily

22nd August 2017 Market Outlook

Euro Kiwi – EUR/NZD started to rally higher after price rejected its 1.6000 key support level (Which is also a big round number and psychological level). 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 located at 1.6230 which may serve as the first target for buyers to lock in profits.

EURNZDrH4

 

Euro Pound – EUR/GBP breakout above its 0.9140 resistance level yesterday which opened up the door for potential further rally in the coming days. Given that the trend is still bullish at the moment, traders may consider buying into this market to jump on the bullish trend. However traders may want to be aware with profit target and stop loss placement as the rally is rather weak over the last few trading days which could cause some pullbacks along its rally.

EURGBPrDaily

 

Swiss Franc Yen – CHF/JPY rejected its 112.60 supprot level yesterday which could potentially lead price higher in the coming days. However due to its multiple retest of 112.60 support level, price could potentially breakout below its 112.60 support level. A breakout below its 112.60 support level will lead price lower in the coming weeks as there is no immediate support level below after the 112.60 support level.

CHFJPYrDaily

21th August 2017 Market Outlook

Japanese Yen – USD/JPY decline all its way down into its 108.90 support level after price rejected its 111.00–110.90 resistance level as we expected in our 16th August 2017 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 108.90 support level. If price is able to breakout below its 108.90 support level, we are then likely going to see price decline lower in the coming days.

USDJPYrH4

 

Loonie Dollar – USD/CAD decline lower after price had a strong rejection off its 1.2830–1.2780 resistance area as we expected in our 18th August 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.

USDCADrDaily

 

Gold – Gold rejected its 1308.00–1295.00 resistance area last Friday which could potentially lead price lower in the coming days. Given that the trend is currently trading in a range and we are at the upper end of the trading range, traders may consider shorting this market as price may reverse back down before continue to rally higher. On the other hand, if price breakout above its 1308.00–1295.00 resistance area, we are then likely going to see further rally in the near term.

XAUUSDrDaily

18th August 2017 Market Outlook

Loonie Dollar – USD/CAD had a strong rejection off its 1.2830–1.2780 resistance area earlier this week. 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 huge profit margin to trade the short side of the market.

USDCADrDaily

 

Euro Aussie – EUR/AUD pullback into its 1.4760 support level and rejected it yesterday which could potentially lead price higher in the coming days. The next key resistance level is located at 1.5000 therefore traders may consider buying into this market and have the target set near 1.5000 key resistance level for a short term trade.

EURAUDrH4

 

Euro Kiwi – EUR/NZD rejected its 1.6230 resistance level and could potentially lead price lower in the coming days. If price pullback into its 1.58800–1.5820 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 or any other form of confirmation before buying into this market to avoid false signal.

EURNZDrDaily