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    20th October 2015 Market Outlook

    Silver – Silver is making its way back into the 15.62–15.40 support area. Given that the momentum is still bullish, traders may consider buying into this market if price rejects the 15.62–15.40 support area. If price bounce off away from this support area, we are then likely going to see price continue to rally higher and makes new high in the coming days.

     

     

    XAGUSDrH4

     

    Aussie Yen – AUD/JPY is consolidating and formed a triangle chart pattern just below the 87.33 resistance level. Price could move either way but if price breaks the lower end of the triangle, price is then likely going to continue to move lower into its next support level at 84.98 while if price is able to breakout above the 87.33 resistance level, we are then likely going to see price test its 89.33 resistance level in the near term.

    AUDJPYrH4

     

    Pound Kiwi – GBP/NZD is currently trading at the 2.2452 support level. Since the overall long term trend is still bullish, traders may consider buying into this market as price may retest its 2.3400 resistance level in the near term. On the other hand, if price breaks the 2.2452 support level we are then likely going to see price decline lower into its next support level at 2.0931.

    GBPNZDrDaily

    Posted on 2015-10-20 06:30:20


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