31st October 2018 Market Outlook

Gold – Gold decline lower after price rejected its 1240.00 resistance level as we expected in our 29th October 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 into its 1212.00–1205.50 support area in the near term.

XAUUSDrDaily

 

Euro Aussie – We have a good resistance area at 1.6060–1.6040 resistance area in EUR/AUD which traders may hunt for potential shorting opportunity if price pullback into it as the trend is still bearish. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

EURAUDrH4

 

Pound Kiwi – GBP/NZD breakout below its 1.9560 support level which now turned into resistance level where traders may consider shorting if price pullback into it as the momentum is bearish at the moment. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

GBPNZDrDaily

30th October 2018 Market Outlook

Aussie Kiwi – AUD/NZD started to decline lower after price rejected its 1.0860 resistance level as we expected in our 26th October 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 with its decline in the coming days.

AUDNZDrDaily

 

Japanese Yen – USD/JPY once again rally higher after price rejected its 111.73 support level as we expected in our 17th October 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 with its bullish moves in the coming days.

USDJPYrDaily

 

Aussie Dollar – AUD/USD is currently consolidating and if price breakout below its consolidation, we are then likely going to see further decline coming into this market in the coming days. Given that the long term trend is still bearish, traders may consider shorting this market at the breakout of its consolidation to jump on the bearish trend.

AUDUSDrDaily

29th October 2018 Market Outlook

Euro Yen – EUR/JPY continue to decline lower after price rejected its 128.40 resistance level as we expected in our 25th October 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 with its decline in the coming days. Traders who missed the shorting opportunity may still hunt for potential short setups especially if price pullback into resistance level.

EURJPYrH4

 

Gold – Gold rejected its 1240.00 resistance level last Friday which could potentially lead price lower into its 1212.00–1205.50 support area before continue to rally higher. Given that the long term trend is still bearish, traders may consider shorting this market to ride on the bearish trend.

XAUUSDrDaily

 

Norwegian Krone – USD/NOK continue to rally higher after price breakout above its 8.2770 resistance level which has now turned into a support level. The next resistance level is located at 8.4650 which offer traders good profit margin to trade the long side of the market. Traders may hunt for potential buy setups to jump on the bullish trend especially if price pullback into support level.

USDNOKrDaily

26th October 2018 Market Outlook

Euro Yen – EUR/JPY decline lower after price rejected its 128.40 resistance level as we expected in our 25th October 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 with its decline in the coming days. There’s no immediate support level below which offer traders massive profit margin to trade the short side of the market.

EURJPYrH4

 

Aussie Kiwi – AUD/NZD pullback into its 1.0860 resistance level and rejected it yesterday. Given that the short term trend is bearish at the moment, traders may consider shorting this market to jump on the bearish trend as price is likely going to continue with its bearish trend in the coming days. The next support level is not found until 1.0670 which offer traders great profit margin to trade the short side of the market.

AUDNZDrDaily

 

Pound Dollar – We have a nice resistance level above at 1.2950 in GBP/USD which traders may hunt for potential shorting opportunity if price pullback into it as the overall trend is still bearish. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

GBPUSDrDaily

25th October 2018 Market Outlook

Euro Loonie – EUR/CAD decline into its 1.4770 support level after price rejected its 1.5110 resistance level as we expected in our 24th October 2018 Market Outlook. Traders who went short as we recommended may consider taking profits around the 1.4470 support level or at least scale out the position to lock in profits while leaving the rest to run further with a trailing stop behind.

EURCADrDaily

 

Gold – Gold rally into our first target at 1240.00 resistance level after price breakout above its consolidation and 1212.00 resistance level as we expected in our 12th October 2018 Market Outlook. Traders who went long as we recommended may consider scale out the position at this 1240.00 resistance level while leaving the rest to run further with a trailing stop. If price is able to breakout above its 1240.00 resistance level, we are then likely going to see further rally coming into this market in the near term.

XAUUSDrDaily

 

Euro Yen – EUR/JPY breakout below its 128.40 support level yesterday which now turned into a resistance level where traders may hunt for potential short setups if price pullback into it. 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.

EURJPYrH4

24th October 2018 Market Outlook

Euro Pound – EUR/GBP pullback into its 0.8870–0.8860 resistance area as we expected in our 15th October 2018 Market. Given that the momentum is 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 to avoid false signals.

EURGBPrDaily

 

Euro Loonie – EUR/CAD once again rejected its 1.5110 resistance level and decline lower. Traders who went short may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue with its decline into its next support level at 1.4770.

EURCADrDaily

 

Aussie Kiwi – AUD/NZD decline lower after price breakout below its 1.0860 support level as we expected in our 17th October 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 the shorting opportunity may consider hunting for potential short setups if price pullback into its 1.0860 resistance level to jump on the bearish trend.

AUDNZDrDaily

22nd October 2018 Market Outlook

Aussie Kiwi – AUD/NZD decline lower after price breakout below its 1.0860 support level as we expected in our 17th October 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 with its bearish trend into its 1.0670 support level in the near term.

AUDNZDrDaily

 

Pound Aussie – GBP/AUD rejected its 1.8200 support level last Friday which could potentially lead price 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. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

GBPAUDrDaily

 

Gold – Gold continue to rally higher after price breakout above its consolidation as we expected in our 12th October 2018 Market Outlook. Traders who went long at the breakout of 1212.00 resistance level may consider continue holding onto the long position with a trailing stop behind as price is likely going to rally higher while traders who missed the buying opportunity may still hunt for potential buy setups if price pullback into the support area.

XAUUSDrDaily

19th October 2018 Market Outlook

Pound Yen – GBP/JPY decline lower after price breakout below its consolidation. Price is likely going to decline into its 145.50 support level. If price is able to breakout below the 145.50 support level, we are then likely going to see further decline coming into this market in the coming days.

GBPJPYrDaily

 

Euro Aussie – EUR/AUD consolidated below its 1.6160 resistance level. Given that the momentum is bearish at the moment, traders may consider shorting this market if price breakout below its consolidation. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

EURAUDrH4

 

Euro Kiwi – EUR/NZD once again pullback into its 1.7480–1.7380 support area earlier today. Since the overall trend is still bullish, 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 shorting this market for a safer entry.

EURNZDrDaily

18th October 2018 Market Outlook

Euro Aussie – EUR/AUD formed a double top and decline lower after price breakout below its neckline at 1.6160 support level. Traders may consider shorting this market to jump on the potential bearish swing as there’s no immediate support level below. Traders may also wait for price to pullback into its 1.6160 resistance level (Previous support level) before shorting this market for a more favorable risk:reward trade.

EURAUDrH4

 

Japanese Yen – USD/JPY started to rally higher after price rejected its 111.73 support level as we expected in our 17th October 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 with its bullish moves in the coming days.

USDJPYrDaily

 

Aussie Loonie – AUD/CAD bounce higher after price rejected its 0.9150 weekly support level. Since the trend is still bearish, conservative traders may wait for price to pullback into resistance level before shorting this market while aggressive traders may consider taking a counter trend trade as price could potentially retrace higher before continue with its bearish trend.

AUDCADrWeekly

17th October 2018 Market Outlook

Japanese Yen – USD/JPY rejected its 111.73 support level earlier today. Given that the trend is still bullish, traders may consider buying into this market to jump on the bullish trend. The next key resistance level is located at 114.70 resistance level which offer traders huge profit margin to trade the long side of the market.

USDJPYrDaily

 

Aussie Kiwi – AUD/NZD breakout below its 1.0860 support level yesterday which opened up the door for potential further decline. Traders may consider shorting this market as there is no immediate support level below. Traders may also wait for price pullback into resistance level before shorting this market for a more favorable risk:reward trade.

AUDNZDrDaily

 

Euro Loonie – EUR/CAD decline lower after price rejected its 1.5110 resistance level. Since the momentum is still bearish at the moment, traders may consider shorting this market to ride on the bearish momentum. Traders who short this market may also consider having the first target set around previous swing low at around 1.4770 to lock in profits.

EURCADrDaily