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3rd March 2016 Market Outlook

Euro Kiwi – EUR/NZD decline lower after price rejected the 1.6555 resistance level as we expected in our 1st March 2016 Market Outlook. Traders who went short as we recommended may consider continue hodling onto the short position with a trailing stop behind as price is likely going to continue to move lower in the coming days.

 

 

EURNZDrH4

 

Pound Dollar – GBP/USD pullback into its 1.4145–1.4085 resistance area as we expected in our 24th February 2016 Market Outlook. Given that the overall trend is still bearish at the moment, traders may consider shorting this market to ride on the bearish trend. Ideally we would prefer to see price rejects the 1.4145–1.4085 resistance area before shorting for a safer entry.

GBPUSDrH4

 

Aussie Dollar – AUD/USD is making its way back into the 0.7380 resistance level as we could see through the weekly chart. The market is still moving in a range and if price performs any rejections at the 0.7380 or 0.7555 resistance level, traders may consider shorting this market as the overall long term trend is still clearly bearish at the moment.

AUDUSDrWeekly

Posted on 2016-03-03 06:30:27



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