31st August 2018 Market Outlook

Aussie Loonie – AUD/CAD continue to decline lower after price pullback into its 0.9580 resistance level and rejected it as we expected in our 21st August 2018 Market Outlook. Traders who went short as we recommended may consider scale out the position at current price level to lock in profits while leaving the rest to run further with a trailing stop behind.

AUDCADrDaily

 

Pound Dollar – GBP/USD pullback into its 1.3086–1.3040 resistance area yesterday. 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 before shorting this market to avoid false signals. Traders may also have the first target set near previous swing low to lock in profits if price moves in our favour.

GBPUSDrDaily

 

Gold – Gold started to decline lower after price pullback into its 1219.00–1208.00 resistance area and rejected it as we expected in our 21st August 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 which offer traders massive profit margin to trade the short side of the market.

XAUUSDrDaily

28th August 2018 Market Outlook

Euro Aussie – EUR/AUD rally higher after price rejected its 1.5850 support level as we expected in our 27th August 2018 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 around 1.5940 to lock in profits if price continue to rally higher.

EURAUDrH4

 

Pound Loonie – GBP/CAD rejected its 1.6800 resistance level last week which could potentially lead price lower in the coming days. Given that the trend is bearish at the moment, traders may consider shorting this market to jump on the bearish trend. The next support level is not found until 1.6370 which offer traders huge profit margin to trade the short side of the market.

GBPCADrDaily

 

Loonie Dollar – We have a key resistance area above at 1.3010–1.3000 in USD/CAD where traders may hunt for potential short setups as the trend is still bearish at the moment. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

USDCADrH4

27th August 2018 Market Outlook

Euro Aussie – EUR/AUD is showing some rejections off its 1.5850 support level. Given that the trend is bullish at the moment, traders may consider buying into this market to jump on the bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

EURAUDrH4

 

Kiwi Yen – NZD/JPY rally higher into our profit target at 74.40 resistance level after price rejected its 72.75 support level as we expected in our 14th August 2018 Market Outlook. Traders who went long as we recommended may consider taking profits or at least scale out the position to lock in profits. Traders may also lookout for potential shorting opportunity to short this market to ride on this bearish trend.

NZDJPYrDaily

 

Euro Pound – EUR/GBP continue to rally higher after price breakout above its 0.9010 resistance level as we expected in our 24th August 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind. Traders who missed this buying opportunity may still hunt for potential buy setups if price pullback into the 0.9010 support level (Previous resistance level).

EURGBPrDaily

24th August 2018 Market Outlook

Euro Pound – EUR/GBP continue to rally higher into its 0.9010 resistance level after price rejected its 0.8870–0.8860 support area as we expected in our 30th July 2018 Market Outlook. Traders who went long as we recommended may consider taking profits or scale out the position around the 0.8970 resistance level with a trailing stop behind to lock in profits. Traders who missed this buying opportunity may still lookout for potential buy setups if price breakout above its 0.9010 resistance level to jump on this bullish trend.

EURGBPrDaily

 

Euro Aussie – EUR/AUD breakout above its 1.5850 resistance level which now turned into a support level. Given that the momentum is bullish at the moment, traders may consider buying into this market if price pullback into its 1.5850 support 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.

EURAUDrH4

 

Euro Yen – EUR/JPY is making its way back into its 129.50 resistance level. Given that the trend is still bearish, traders may consider shorting this market if price pullback into the 129.50 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

EURJPYrDaily

23rd August 2018 Market Outlook

Aussie Loonie – AUD/CAD decline lower after price pullback into its 0.9580 resistance level and rejected it as we expected in our 21st August 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 in the coming days.

AUDCADrDaily

 

Euro Dollar – EUR/USD pullback into its 1.1620 resistance level yesterday and rejected it. Given that the long term trend is bearish, traders may consider shorting this market to jump 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.

EURUSDrDaily

 

Kiwi Yen – NZD/JPY rally higher after price rejected its 72.75 support level as we expected in our 14th August 2018 Market Outlook. Traders who went long as we recommended may have the profit target set near 74.40 resistance level to lock in profits. Traders may also hunt for potential short setups if price indeed pullback into its 74.40 resistance level to jump on the bullish trend.

NZDJPYrDaily

22nd August 2018 Market Outlook

Kiwi Dollar – NZD/USD is making its way back into its 0.6800 resistance level. Given that the trend is bearish, traders may consider shorting this market to jump on the bearish trend if price pullback into its 0.6800 resistance level. Traders may also zoom in to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.

NZDUSDrWeekly

 

Pound Yen – GBP/JPY bounce off from the lower prices and is making its way back into its 144.55–144.00 resistance area. If price indeed pullback into its resistance area, traders may then hunt for short setups to ride on this bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

GBPJPYrDaily

 

Euro Loonie – EUR/CAD has been quite bullish over the last few days. Although the longer term trend is still bearish, the short term momentum is bullish at the moment therefore a more aggressive trader may consider buying into this market for a quick short term trade while conservative traders may wait for a short setups to short this bearish trend.

EURCADrH4

21st August 2018 Market Outlook

Aussie Loonie – AUD/CAD pullback into its 0.9580 resistance level yesterday. Given that the trend is still bearish, traders may hunt for potential short setups to jump on this bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

AUDCADrDaily

 

Gold – Gold had a rejection of lower price last week which could potentially lead to price pullback into its 1219.00–1208.00 resistance area in the near term. Since the trend is still bearish, traders may consider shorting this market if price indeed pullback into the 1219.00–1208.00 resistance area to jump on the bearish trend.

XAUUSDrDaily

 

Norwegian Krone – USD/NOK have been in a strong bullish trend over the last few weeks. Given that the momentum is still bullish, traders may consider buying into this market if price pullback into its 8.3900 key support level. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market for a safer entry.

USDNOKrDaily

20th August 2018 Market Outlook

Aussie Dollar – AUD/USD pullback into its 0.7330 resistance level as we expected in our 17th August 2018 Market Outlook. Given that the trend is 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 before shorting this market to avoid false signals.

AUDUSDrDaily

 

Loonie Dollar – USD/CAD is currently trading within the range of 1.3170 resistance level and 1.3050 support level. Given that price is currently trading above the 1.3050 support level, traders may hunt for potential buy setups as price could potentially bounce higher into its 1.3170 resistance level. On the other hand, a breakout below its 1.3050 support level may lead price lower in the coming days.

USDCADrH4

 

NZD/CAD – NZD/CAD is showing undecided around the 0.8720–0.8680 resistance area. Given that the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Traders may also zoom in to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.

NZDCADrDaily

17th August 2018 Market Outlook

Aussie Dollar – AUD/USD could potentially bounce off from its lower price and pullback into its 0.7330 resistance level. Given that the overall trend is still bearish, traders may consider shorting this market to jump on this bearish trend if price indeed pullback into its 0.7330 resistance level.

AUDUSDrDaily

 

Euro Loonie – EUR/CAD is approaching its 1.5020–1.5000 key resistance area. Since the overall trend is still bearish, traders may consider shorting this market to ride on this bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

EURCADrH4

 

Aussie Yen – AUD/JPY consolidates around the 80.60 support level. If price is able to breakout below its consolidation, we are then likely going to see further decline coming into this market in the coming days. Traders may consider shorting this market as there’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

AUDJPYrDaily

15th August 2018 Market Outlook

Aussie Loonie – AUD/CAD continue to decline lower after price rejected its 0.9790–0.9770 resistance area as we expected in our 11th July 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 its decline in the coming days.

AUDCADrDaily

 

Aussie Dollar – AUD/USD breakout below its 0.7330 support level and decline lower as we expected in our 23rd July 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 its decline lower into its next support level at 0.7170.

AUDUSDrDaily

 

Pound Loonie – GBP/CAD continue to decline lower after price rejected its 1.7800 resistance level as we expected in our 24th July 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind while traders who missed this big shorting opportunity may still hunt for short setups if price pullback into resistance level to jump on the bearish trend.

GBPCADrDaily