31st January 2018 Market Outlook

Pound Dollar – GBP/USD rejected its 1.4000 key support level yesterday which could potentially lead price higher in the coming days. Traders who went long at the rejection of 1.3300–1.3270 support area as we recommended in our 13th December 2017 Market Outlook and those who went long at the breakout of 1.3620 resistance level as we recommended in our 9th January 2018 Market Outlook may consider scale in the position at this 1.4000 key support level to maximize the profit potential of this bullish trend.

GBPUSDrDaily

 

Loonie Dollar – USD/CAD rejected its 1.2370 resistance level yesterday which could cause price to moves lower in the coming days. Since the trend is still bearish, traders may consider shorting this market to ride on the bearish trend. The next support level is located at 1.2070 support level which offer traders huge profit margin to trade the short side of the market.

USDCADrDaily

 

Pound Yen – GBP/JPY rejected its 152.80 support level and also its bullish trend line which increase the odds of price rally higher in the coming days. Given that the trend is bullish at the moment, traders may consider buying into this market to jump on the bullish trend.

GBPJPYrDaily

30th January 2018 Market Outlook

NZD/CAD – NZD/CAD pullback into its 0.9000 key support level yesterday which traders may consider buying into as the short term 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 to avoid false signals.

NZDCADrDaily

 

Gold – Gold breakout below its 1344.00 support level which now turned into a resistance level where traders may consider shorting as price could potentially decline lower into its 1325.00 support level in the near term. Since the overall trend is still bullish, conservative traders may want to wait for potential buying opportunities instead of shorting to jump on the overall bullish trend.

XAUUSDrH4

 

Kiwi Yen – We have a resistance level above at 80.20 in NZD/JPY which traders may consider shorting. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry. The next support level is located at 79.10 which offer traders decent profit margin to trade the short side of the market.

NZDJPYrDaily

29th January 2018 Market Outlook

Japanese Yen – USD/JPY continue to decline lower after price breakout below its 110.30 support level as we expected in our 24th January 2018 Market Outlook. Traders who went short as we recommended may consider taking profits or scale out the position at the 108.20 support level to lock in profits. If price is able to breakout below its 108.20 support level, we are then likely going to see further decline coming into this market in the coming days.

USDJPYrDaily

 

Loonie Dollar – USD/CAD breakout below its 1.2370 support level last Friday which opened up the door for potential further decline. Since the trend is still bearish at the moment, traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to pullback into its 1.2370 resistance level (Previous support level) before shorting this market for a more favorable risk:reward trade.

USDCADrDaily

 

Pound Loonie – GBP/CAD is showing some bearish sign which could potentially cause price to pullback lower into its 1.7250 support level. If price indeed pullback into its 1.7250 support level, traders may then 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.

GBPCADrDaily

26th January 2018 Market Outlook

Gold – Gold pullback into its 1344.00 support level and rejected it earlier today which could potentially lead price higher in the coming days. Since the trend is still bullish, traders may consider buying into this market to jump on the bullish trend and have the first target set near its previous swing high at around 1365.00 to lock in profits if price moves in our favour.

XAUUSDrH4

 

NZD/CAD – NZD/CAD is making its way back into its 0.9000 key support level which traders may hunt for potential buying opportunities as there could be a surge in volume around this big psychological level. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.

NZDCADrDaily

 

 

Pound Yen – GBP/JPY continue to rally higher after price breakout above its 153.70–152.80 resistance area as we expected in our 23rd January 2018 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.

GBPJPYrDaily

25th January 2018 Market Outlook

Pound Dollar – GBP/USD shot up significantly higher after price breakout above its 1.4000 key resistance level as we expected in our 23rd January 2018 Market Outlook. Traders who went long at the rejection of 1.3300–1.3270 support area as we recommended in our 13th December 2017 Market Outlook and those who went long at the breakout of 1.3620 resistance level as we recommended in our 9th January 2018 Market Outlook may consider continue holding onto the long position with a trailing stop behind to lock in profits.

GBPUSDrDaily

 

Japanese Yen – USD/JPY continue to decline lower after price breakout below its 110.30 support level as we expected in our 24th January 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as there’s no immediate support level below to hold price back from moving lower.

USDJPYrDaily

 

Silver – Silver breakout above its 17.35–17.23 resistance area yesterday which opened up the door for potential further rally. Since the momentum is bullish at the moment, traders may consider buying into this market to ride on the bullish momentum. Traders may also wait for price to pullback into 17.35–17.23 support area (Previous resistance area) before buying into this market for a more favorable risk:reward trade.

XAGUSDrDaily

24th January 2018 Market Outlook

Gold – Gold continue to rally higher and is approaching its 1344.00 resistance level after price rejected its 1325.00 support level as we expected in our 18th January 2018 Market Outlook. Traders who went long as we recommended may consider taking profits or scale out the position at the 1344.00 resistance level to lock in profits. If price is able to breakout above its 1344.00 resistance level, we are then likely going to see price rally higher in the coming days.

XAUUSDrH4

 

Japanese Yen – USD/JPY breakout below its 110.30 support level yesterday which opened up the door for potential further decline. If price manage to stay below the 110.30 support level, we are then likely going to see further decline coming into this market in the near term therefore traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to pullback into resistance level before shorting this market for a more favorable risk:reward trade.

USDJPYrDaily

 

Kiwi Dollar – NZD/USD breakout above its 0.7330 resistance level yesterday which could potentially lead price higher in the coming days. Since the trend is still bullish, traders may consider buying into this market to jump on the bullish trend. There is no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

NZDUSDrDaily

23rd January 2018 Market Outlook

Pound Dollar – GBP/USD rally all the way up into its 1.4000 key resistance level after price breakout above its 1.3620 resistance level as we expected in our 9th January 2018 Market Outlook. Traders who went long as we recommended may consider taking profits or at least scale out the position at this 1.4000 key resistance level to lock in profits. If price is able to take out 1.4000 key resistance level, we are then likely going to see further rally coming into this market in the coming weeks.

GBPUSDrDaily

 

Pound Yen – GBP/JPY breakout above its 153.70–152.80 resistance area last Friday. Since the overall trend is still bullish, traders may consider buying into this market to jump 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.

GBPJPYrDaily

 

Aussie Yen – AUD/JPY once again approach its 89.10 resistance level. If price is able to breakout above its 89.10 resistance level, we are then likely going to see further rally into its next resistance level located at 90.20 therefore traders may consider buying into this market at the breakout of 89.10 resistance level to ride on the bullish trend.

AUDJPYrDaily

22th January 2018 Market Outlook

Gold – Gold rally higher after price rejected its 1325.00 support level as we expected in our 18th January 2018 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.

XAUUSDrH4

 

Euro Loonie – EUR/CAD is trying to breakout above its weekly resistance area at 1.5370–1.5250. Since the trend is still bullish, traders may consider buying into this market if price breakout above its 1.5370–1.5250 resistance area to jump on the bullish trend.

EURCADrWeekly

 

Kiwi Dollar – The bulls in NZD/USD are losing strength over the last few days which could potentially lead price back lower into its 0.7190 support level. Since the trend is still bullish, conservative traders may wait for price to pullback into its 0.7190 support level before buying into this market while aggressive traders may consider shorting this market for a quick short term counter trend trade.

NZDUSDrDaily

19th January 2018 Market Outlook

Euro Dollar – EUR/USD continue to rally higher after price rejected its 1.1950–1.1930 support area as we expected in our 11th January 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind. We have another support level at 1.2070 which traders may consider buying into especially those who missed the earlier buying opportunity to jump on the bullish trend.

EURUSDrDaily

 

Pound Yen – GBP/JPY is trying to breakout above its 153.70–152.80 resistance area. If price is able to breakout above it and stay above it for a few trading days, traders may then consider buying into this market to jump on the potential bullish run. Conservative traders may also wait for a pullback before buying into this market for a more favorable risk:reward trade.

GBPJPYrDaily

 

Aussie Loonie – We have a nice support area at 0.9870–0.9850 in AUD/CAD which traders may hunt for potential buy setups if price pullback into it as the short term 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.

AUDCADrDaily

18th January 2018 Market Outlook

NZD/CAD – NZD/CAD continue rally higher after price rejected its 0.8870 support level as we expected in our 2nd January 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position while traders who missed this buying opportunity may still lookout for potential buy setups around the 0.9000 key support level to jump on the bullish momentum.

NZDCADrDaily

 

Japanese Yen – USD/JPY is showing bullish sign yesterday which could potentially lead price higher before decline lower. If price pullback into its 112.10 resistance level, traders may then consider shorting this market to jump on the potential bearish swing. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

USDJPYrDaily

 

Gold – Gold pullback into its 1325.00 support level which traders may hunt for potential buying opportunities as gold has been quite bullish over the last few weeks. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

XAUUSDrH4