Euro Kiwi – EUR/NZD rally significantly higher after price bounce off away from its 1.5011–1.4953 support area as we expected in our 25th May 2015 Market Outlook. Traders who went long at this 1.5011–1.4953 support area may consider taking profits or scale out the position at around the 1.5402 resistance level. If price breakthrough the 1.5402 resistance level, we are then likely going to see price continue to rally higher in the coming days probably into its next key resistance level at 1.5700.
Euro Aussie – EUR/AUD is approaching its 1.4428–1.4351 resistance area after price rejected the 1.3963 support level as we expected in our 15th May 2015 Market Outlook. Traders who went long at the 1.3963 support level as we recommended may consider taking profits at the 1.4428–1.4351 resistance area. If price rejects this 1.4428–1.4351 resistance area, traders may also consider shorting this market as the market is moving sideway at the moment. While if price breakout away from the trading range, we are then likely going to see some explosive move followed by the breakout.
Silver – Silver is currently sitting at its 16.73 decision level. If price break above yesterday’s high, traders may consider buying into this market while if price breaks below yesterday’s low, traders may then consider shorting this market. Traders are recommended to stay at the sideline until there’s a clear decision where the market wanted to move towards before jumping in.
Posted on 2015-05-29 06:31:45