Pound Kiwi – GBP/NZD is approaching its 2.2452 support level as we expected in our 27th November 2015 Market Outlook. Traders who went short as we recommended may consider taking partial profits at the 2.2452 support level while leaving the rest to run further. If price breaks the 2.2452 support level, we are then likely going to see price continue to move lower in the coming days as there’s no immediate support level until 2.1040–2.0931 which could potentially offer traders massive profit margin to trade the short side.
Aussie Dollar – AUD/USD breakout above its its 0.7296–0.7280 resistance area as we expected in our 1st December 2015 Market Outlook. Traders who bought at the breakout as we recommended may consider continue holding onto the long position as price is likely going to move higher into its next resistance area at 0.7380–0.7362 while traders who missed the buying opportunity may still buy into this market if price pullback to the 0.7296–0.7280 support area (Previous resistance area) to jump on this bullish trend.
Euro Yen – EUR/JPY pullback to its 131.11–130.75 resistance area as we expected in our 30th November 2015 Market Outlook. Traders may consider shorting this market as the overall trend is still bearish. Traders who shorted this market may have their first target set at the previous swing low at around 129.60 price level. On the other hand, if price breaks through the 131.11–130.75 resistance area, we are then likely going to see price rally into its next resistance area at 133.90–133.25 which is also a good level to look for shorting opportunities.
Posted on 2015-12-02 06:30:08