Aussie Kiwi – AUD/NZD starts to decline after price rejected its 1.0932–1.0890 key resistance area as we expected in our 4th November 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower into its 1.0578–1.0516 support area in the coming days.
Gold – Gold broke its 1105.00–1100.00 support area last week which now turned into a good resistance level where traders may look for shorting opportunities when price pullback to the resistance area. Price is likely going to continue to move into its 1071.00 support level in the near term as the overall trend is very bearish at the moment.
Kiwi Dollar – We have a nice little resistance area at 0.6641–0.6619 resistance area in NZD/USD which traders may consider shorting it when price pullback to it. The long term trend is still bearish as well which increase the odds of this short setup. Ideally, we would prefer to see price rejects the resistance area before shorting for a safer entry.
Posted on 2015-11-11 06:30:13