31st October 2017 Market Outlook

Euro Pound – EUR/GBP formed a double top chart pattern and breakout below its neckline last Friday which opened up the door for potential further decline. We are likely going to see price continue to decline lower therefore traders may consider shorting this market if price pullback into its 0.8888–0.8870 resistance area as it offers a good spot to hunt for potential shorting opportunities.

EURGBPrH4

 

Swiss Franc Yen – CHF/JPY is currently trading at its 113.50 support level. If price is able to breakout below its 113.50 support level, we are then likely going to see further decline coming into this market as the trend is still bearish at the moment. Traders may also consider shorting this market at the breakout of 113.50 support level to ride on the bearish trend.

CHFJPYrH4

 

Norwegian Krone – USD/NOK rejected its 8.2000 resistance level which could potentially cause price to pullback before rally higher. If price pullback into its 8.0200–8.0000 support area, traders may then consider buying into this market while if price breakout above its 8.2000 resistance level after consolidating below its 8.2000 resistance level, we are then likely going to see further rally in the coming weeks.

USDNOKrDaily

30th October 2017 Market Outlook

Aussie Kiwi – AUD/NZD rally higher after price rejected its 1.1130 support level as we expected in our 24th October 2017 Market Outlook. Traders who went long at the 1.1130 support level and those who went long at the rejection of 1.0840–1.0800 support area as we recommended in our 6th October 2017 Market Outlook may consider continue holding onto the long position and have the first target set near previous swing high at around 1.1280 price level.

AUDNZDrDaily

 

Euro Dollar – EUR/USD is trying to breakout below its 1.1615 support level, if price breakout below its 1.1615 support level, we are then likely going to see further decline coming into this market in the coming days. Traders who went short at the 1.1860–1.1830 resistance area as we recommended in our 11th October 2017 Market Outlook may consider continue holding onto the short position with a trailing stop behind while traders who missed the shorting opportunity earlier may consider short this market at the breakout of 1.1615 support level.

EURUSDrDaily

 

Loonie Dollar – USD/CAD breakout above its 1.2770–1.2750 resistance area which now turned into a support area where traders may consider buying into if price pullback into it to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

USDCADrH4

27th October 2017 Market Outlook

Euro Dollar – EUR/USD decline lower after price rejected its 1.1860–1.1830 resistance area as we expected in our 11th October 2017 Market Outlook. Traders who went short as we recommended may consider scale out the position at the 1.1615 support level while leaving the rest position to run further with a trailing stop behind. If price is able to breakout below its 1.1615 support level, we are then likely going to see further decline coming into this market in the coming days.

EURUSDrDaily

 

Kiwi Yen – NZD/JPY breakout below its 78.40 support level which opened up the door for potential further decline. The 78.40 support level has turned into resistance level which traders may hunt for potential shorting opportunities around this resistance level if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

NZDJPYrH4

 

Norwegian Krone – USD/NOK breakout above its 8.0200–8.0000 resistance area yesterday and shot up into its 8.2000 key resistance level. The short term trend has turned bullish therefore traders may consider buying into this market if price pullback into support level or at the breakout of 8.2000 resistance level to jump on the bullish trend.

USDNOKrDaily

26th October 2017 Market Outlook

Euro Kiwi – EUR/NZD rally into its 1.7215 resistance level after price rejected its 1.6200–1.6140 support area. Traders who went long may consider taking profits at this 1.7215 resistance level as price could potentially pullback before continue higher. Since the trend is still bullish, traders may go long at the breakout of 1.7215 resistance level or wait for price to pullback into support level before buying into this market.

EURNZDrDaily

 

Aussie Dollar – AUD/USD has turned bearish after price breakout below its support level. We have a resistance area above at 0.7750–0.7740 which traders may consider shorting if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

AUDUSDrH4

 

Euro Aussie – EUR/AUD breakout above its 1.5220–1.5170 resistance area yesterday which opened up the door for potential further rally. Since the trend is still bullish, traders may consider buying into this market especially if price pullback into its 1.5220–1.5170 support area (Previous resistance area) to ride on the bullish trend.

EURAUDrDaily

25th October 2017 Market Outlook

Kiwi Yen – NZD/JPY is currently trading above its 78.30 support level, since the trend is bearish at the moment, traders may consider shorting this market if price breakout below its 78.30 support level. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

NZDJPYrDaily

 

Swiss Franc – USD/CHF breakout above its 0.9830–0.9800 key resistance area which could potentially lead price significantly higher in the coming weeks. The momentum is bullish at the moment therefore if price pullback into support area, traders may then consider hunt for potential buying opportunities to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

USDCHFrDaily

 

Pound Aussie – GBP/AUD is trying to breakout above its 1.7000 key resistance level. If price indeed breakout above the key resistance level, we are then likely going to see further rally coming into this market in the coming days therefore traders may consider buying into this market at the breakout above its 1.7000 key resistance level to ride on the bullish momentum.

GBPAUDrH4

24th October 2017 Market Outlook

Japanese Yen – USD/JPY is making its way back into its 113.15–113.05 support area. Given that the trend is still bullish at the moment, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.

USDJPYrH4

 

Aussie Kiwi – AUD/NZD continue its rally after price rejected its 1.0840–1.0800 support area as we expected in our 6th October 2017 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind while traders who missed the buying opportunity may hunt for potential buy setups if price pullback into its 1.1130 support level.

AUDNZDrDaily

 

Loonie Dollar – We have a nice support level below at 1.2590 in USD/CAD which traders may hunt for potential buying opportunities if price pullback into it as the trend is bullish at the moment. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

USDCADrH4

23rd October 2017 Market Outlook

Kiwi Dollar – NZD/USD continue to decline lower after price breakout below its 0.7050 support level as we expected in our 20th October 2017 Market Outlook. Traders who went short at the breakout and those who went short at the rejection of its 0.7225–0.7200 resistance area as we recommended in our 17th October 2017 Market Outlook 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.

NZDUSDrDaily

 

Pound Yen – GBP/JPY rally higher after price rejected its 147.70 support level as we expected in our 11th October 2017 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind and have the first target set near previous swing high at around 152.80 price level.

GBPJPYrDaily

 

Pound Kiwi – GBP/NZD rally into its 1.9000 resistance level after price breakout above its 1.8720–1.8690 resistance area as we expected in our 19th October 2017 Market Outlook. Traders who went long at the breakout of 1.8720–1.8690 resistance area and those who went long at the rejection of 1.8350–1.8310 support level as we recommended in our 18th October 2017 Market Outlook may consider scale out the position at the 1.9000 resistance level while leaving the rest position to run further with a trailing stop behind. If price is able to breakout above its 1.9000 resistance level, we are then likely going to see further rally coming into this market in the coming weeks.

GBPNZDrH4

20th October 2017 Market Outlook

Aussie Kiwi – AUD/NZD continue its rally as we expected in our 6th October 2017 Market Outlook after price rejected its 1.0840–1.0800 support area. 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 days.

AUDNZDrDaily

 

Pound Aussie – We have a resistance level at 1.6800 in GBP/AUD which traders may consider to hunt for potential shorting opportunities if price pullback into it as the trend is still bearish at the moment and there’s no immediate support level below. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

GBPAUDrH4

 

Kiwi Dollar – NZD/USD continue to decline lower and breakout below its 0.7050 support level after price rejected its 0.7225–0.7200 resistance area as we expected in our 17th October 2017 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position while traders who missed this shorting opportunity may consider shorting this market if price pullback into resistance level to jump on this bearish trend.

NZDUSDrDaily

19th October 2017 Market Outlook

Kiwi Dollar – NZD/USD decline lower after price rejected its 0.7225–0.7200 resistance area as we expected in our 17th October 2017 Market Outlook. Traders who went short as we recommended may consider scale out the position at the 0.7050 support level while leaving the rest to run further with a trailing stop behind. If price is able to breakout below its 0.7050 support level, we are then likely going to see further decline coming into this market in the coming days.

NZDUSDrDaily

 

Loonie Yen – CAD/JPY rally higher after price rejected its 89.00–88.50 support area as we expected in our 17th October 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 days.

CADJPYrDaily

 

Pound Kiwi – GBP/NZD shot up significantly higher after price rejected its lower end of the trading range as we expected in our 18th October 2017 Market Outlook. Traders who went long as we recommended may consider taking profits or scale out the position at the 1.8720–1.8690 resistance area. If price is able to breakout above its 1.8720–1.8690 resistance area we are then likely going to see further rally coming into this market in the coming weeks.

GBPNZDrH4

18th October 2017 Market Outlook

Kiwi Dollar – NZD/USD is showing some bearish sign after price rejected its 0.7225–0.7200 resistance area as we expected in our 17th October 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.

NZDUSDrDaily

 

Euro Dollar – EUR/USD decline lower after price rejected its 1.1860–1.1830 resistance area. Price is likely going to continue to decline lower into its 1.1680–1.1615 support area therefore traders who went short as we recommended may consider continue holding onto the short position and have the first target set near 1.1680–1.1615 support area to lock in profits if price moves in our favour.

EURUSDrDaily

 

Pound Kiwi – GBP/NZD is currently trading within the range of 1.8720–1.8690 resistance area and 1.8350–1.8310 support area. Since price is currently trading at the lower end of its trading range therefore traders may consider buying into this market as price could potentially bounce back higher. On the other hand, a breakout below its 1.8350–1.8310 support area could lead to a strong decline in the coming weeks.

GBPNZDrH4