31st May 2018 Market Outlook

Norwegian Krone – USD/NOK formed an inside bar setup yesterday at the 8.1600–8.1400 support area. Since the longer term trend is bullish, traders may consider buying into this market to jump on the bullish trend. Traders may also wait for price to breakout above previous day high before buying into this market to avoid false signal.

USDNOKrH4

 

Pound Dollar – GBP/USD pullback into its 1.3350 resistance level. Given that the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations for a safer entry.

GBPUSDrH4

 

 

Aussie Kiwi – AUD/NZD is making its way back into its 1.0780–1.0750 support area. If price indeed pullback into its 1.0780–1.0750 support area, traders may then consider buying into this market. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

AUDNZDrDaily

30th May 2018 Market Outlook

Japanese Yen – USD/JPY continue to decline lower after price rejected its 111.10 resistance level as we expected in our 23rd May 2018 Market Outlook. Traders who went short at the 111.10 resistance level as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near 107.00 resistance level to lock in profits.

USDJPYrDaily

 

Aussie Loonie – AUD/CAD decline lower after price rejected its 0.9820 resistance level as we expected in our 29th May 2018 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 decline lower in the coming days.

AUDCADrDaily

 

Kiwi Yen – NZD/JPY decline significantly lower after price breakout below its 76.00 support level. Traders who short this market may consider continue holding onto the short position with a trailing stop behind while traders who missed the shorting opportunity may still short this market or wait for price to pullback into its 76.00 resistance level (Previous support level) to jump on the bearish trend.

NZDJPYrDaily

29th May 2018 Market Outlook

Euro Yen – EUR/JPY continue to decline lower after price breakout below its 128.00 support level as we expected in our 25th May 2018 Market Outlook. Traders who went short at the breakout of 128.00 support level and at the rejection of 133.10 resistance level as we recommended in our 3rd May 2018 Market Outlook may consider continue holding onto the short position with a trailing stop behind.

EURJPYrDaily

 

Aussie Loonie – AUD/CAD rejected its 0.9820 resistance level yesterday which could potentially lead price lower in the coming days. Given that the trend is bearish, traders may consider shorting this market to jump on the bearish trend and have the stop loss set above 0.9820 resistance level to limit the loss in case price continue to rally higher.

AUDCADrDaily

 

Japanese Yen – USD/JPY continue to decline lower after price rejected its 111.10 resistance level as we expected in our 23rd May 2018 Market Outlook. Traders who went short at the 111.10 resistance level as we recommended may consider continue holding onto the short position with a trailing stop behind as price could decline even lower in the coming weeks.

USDJPYrDaily

28th May 2018 Market Outlook

Loonie Yen – CAD/JPY decline lower into its 84.00 support level after price rejected its 87.30–86.80 resistance area. Since the trend is bearish at the moment, traders may consider shorting this market if price breakout below its 84.00 support level. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

CADJPYrDaily

 

Gold – Gold started to decline lower after price rejected its 1306.00 resistance level as we expected in our 25th May 2018 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.

XAUUSDrDaily

 

Aussie Yen – AUD/JPY decline lower after price rejected its 84.70–84.10 resistance area as we expected in our 23rd May 2018 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.

AUDJPYrDaily

25th May 2018 Market Outlook

Euro Yen – EUR/JPY decline lower into its 128.00 support level after price rejeted its 133.10 resistance level. Traders who went short as we recommended in our 3rd May 2018 Market Outlook may consider taking profits or scale out the position at this 128.00 support level while leaving the rest to run further with a trailing stop behind. If price is able to breakout below its 128.00 support level, we are then likely going to see further decline coming into this market in the coming weeks.

EURJPYrDaily

 

Gold – Gold pullback into its 1306.00 resistance level. Since the current momentum is still bearish, traders may 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.

XAUUSDrDaily

 

Aussie Dollar – AUD/USD is gaining strength over the last few weeks and is heading back towards its 0.7660 resistance level. If price indeed pullback into its 0.7660 resistance level, traders may then consider shorting this market to jump on the bearish trend. Traders may also wait for confirmations before shorting this market to avoid false signals.

XAUUSDrDaily

24th May 2018 Market Outlook

Euro Yen – EUR/JPY continue to decline lower and is approaching its 128.00 support level after price rejected its 133.10 resistance level as we expected in our 3rd May 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near 128.00 support level. If price is able to breakout below its 128.00 support level, we are then likely going to see further decline coming into this market in the coming weeks.

EURJPYrDaily

 

Japanese Yen – USD/JPY decline lower after price rejected its 111.10 resistance level as we expected in our 23rd May 2018 Market Outlook. Traders who went short at the 111.10 resistance level as we recommended may consider taking profits at current price level or at least scale out the position to lock in profits.

USDJPYrDaily

 

Euro Aussie – EUR/AUD continue to decline lower after price performed a false breakout at the 1.5850 resistance level as we expected in our 16th May 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near its 1.5420 support level.

EURAUDrH4

23rd May 2018 Market Outlook

Aussie Yen – AUD/JPY once again rejected its 84.70–84.10 resistance area yesterday which could potentially lead price lower in the coming days. Since we are still trading within the range of 84.70–84.10 resistance area and 80.60 support level, traders may consider shorting this market as price could potentially decline lower in the coming days.

AUDJPYrDaily

 

Pound Loonie – GBP/CAD once again pullback into its 1.7240 resistance level. Since the overall trend is still bearish, traders may consider shorting at this 1.7240 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

GBPCADrH4

 

Japanese Yen – USD/JPY rejected its 111.10 resistance level yesterday which could potentially cause price to pullback into its 110.00 support level before continue its rally. The trend is still bullish at the moment therefore traders may wait for price to pullback into its 110.00 support level before buying into this market while aggressive traders may consider shorting this market for a quick short term counter trend trade.

USDJPYrDaily

22th May 2018 Market Outlook

Euro Aussie – EUR/AUD continue to decline lower after price performed a false breakout at the 1.5850 resistance level as we expected in our 16th May 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price could potentially continue to decline lower in the coming days.

EURAUDrH4

 

Kiwi Yen – NZD/JPY bounce higher after price rejected the 76.00 support level. Since price is still moving sideway, traders may consider buying into this market to jump on the potential bullish swing and have the target set near 79.77 resistance level to lock in profits if price moves in our favour.

NZDJPYrDaily

 

Pound Aussie – GBP/AUD decline significantly lower after price breakout below its 1.7910–1.7850 support area as we expected in our 11th May 2018 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 weeks.

GBPAUDrDaily

18th May 2018 Market Outlook

Euro Aussie – EUR/AUD decline significantly lower after price performed a false breakout at the 1.5850 resistance level as we expected in our 16th May 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price could potentially decline lower into its 1.5620 support level in the near term.

EURAUDrH4

 

Japanese Yen – USD/JPY shot up higher after price breakout above its consolidation as we expected in our 16th May 2018 Market Outlook. Traders who went long as we recommended may consider have the first target set around 111.10 resistance level while leaving the rest to run further with a trailing stop behind. If price is able to breakout above its 111.10 resistance level, we are then likely going to see further decline coming into this market in the coming days.

USDJPYrDaily

 

Silver – Silver once again approach its 16.15 support level. The support level is getting weaker as price tested it more times. If price breakout below its 16.15 support level, we are then likely going to see further decline into its next key support level at 15.20 therefore traders may consider shorting this market if price breakout below its 16.15 support level.

XAGUSDrDaily

17th May 2018 Market Outlook

Kiwi Dollar – NZD/USD continue to decline lower after price breakout below its 0.7190 support level as we expected in our 23rd April 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near its next key support level around 0.6800.

NZDUSDrDaily

 

Loonie Yen – CAD/JPY rally into its 87.30–86.80 resistance area after price breakout above its 85.65 resistance level. If price is able to breakout above its 87.30–86.80 resistance area, we are then likely going to see further rally coming into this market in the coming weeks therefore traders may consider buying into this market to jump on the bullish trend.

CADJPYrDaily

 

Pound Yen – GBP/JPY is making its way back into its 150.80 resistance level. If price indeed pullback into it, traders may 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.

GBPJPYrDaily