Gold – Gold rally higher after price pullback to its 1082.00–1079.00 support area and rejected it as we expected in our 13th January 2016 Market Outlook. Traders who went long as we recommended may consider continue to hold on the long position as price is likely going to continue to move higher into its 1111.70 resistance level in the coming days.
Aussie Dollar – AUD/USD fell lower after price rejected its 0.7032–0.7015 resistance area as we expected in our 12th January 2016 Market Outlook. Traders who went short as we recommended may consider scale out the position when price hit the 0.6910 support level to lock in the profits as price could potentially bounce a little before continue to move lower.
Kiwi Dollar – NZD/USD continue to move lower after price breaks its 0.6619–0.6590 support area as we expected in our 7th January 2016 Market Outlook. Price did return to the 0.6619–0.6590 resistance area (Previous support area) before continue to move lower which offer traders the opportunity to scale in the position. We are likely going to see price decline into its next support level very soon which traders may consider scale out the position to lock in profits.
Posted on 2016-01-14 06:30:58