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    14th July 2015 Market Outlook

    Euro Aussie – EUR/AUD pullback to its 1.4769–1.4720 support area earlier today. Given that the trend is bullish at the moment, traders may consider buying into this market at the 1.4769–1.4720 support area. Ideally we would like to see price rejects this support area or any other confirmation before buying into this market for a safer entry. If price bounce off away from the 1.4769–1.4720 support area, we are then likely going to see price rally higher in the coming days.

     

     

    EURAUDrDaily

     

    Euro Pound – Unfortunately EUR/GBP did not rally higher after price pullback to its 0.7155 short term support level but breaks lower. If price pullback to its 0.7162–0.7155 resistance area, traders may then consider shorting this market as the momentum had turned bearish after price broke the 0.7155 support level. The next support level is not found until 0.7014 which offer traders huge profit margin to trade the short side.

    EURGBPrH4

     

    Silver – Silver pullback to its 15.62 resistance level and rejected it. Given that the long term trend is still bearish, traders may consider selling short at the 15.62 resistance level. Price is likely going to continue to move lower in the coming days and may retest its 14.70 support level in the near term.

    XAGUSDrDaily

    Posted on 2015-07-14 06:30:22


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