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10th August 2015 Market Outlook

Silver – Silver stalled at its 14.70–14.38 key support area last few weeks and we are seeing some bounce taking place in this support area. There’s also a divergence in this market which enhance the probability of price rally higher. However the trend is still bearish overall thus conservative traders are recommended to stay at the sideline while aggressive traders may consider buying into this market for a short term counter trend trade.

 

 

XAGUSDrDaily

 

Aussie Loonie – AUD/CAD is currently trading its 0.9748–0.9740 resistance area. Aggressive traders may consider shorting this market for a counter trend trade while conservative traders are recommended to wait for price to pullback to the support level before going long or buy at the breakout of the 0.9748–0.9740 resistance area to trade in line with the bullish trend.

AUDCADrH4

 

Loonie Yen – CAD/JPY performed a small rejections at the 94.54 short term support level which may offer traders some short term buying opportunities at this support level. However if price breaks the 94.54 support level, we are then likely going to see price continue to fell lower in the coming days as the overall trend is still bearish at the moment.

CADJPYrH4

Posted on 2015-08-10 06:33:33



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