Euro Yen – EUR/JPY fell lower into its 131.27 support level after price rejected the 133.25 resistance level as we expected in our 4th November 2015 Market Outlook. Traders who went short as we recommended may consider taking partial profits at the 131.27 support level while leaving the rest to run further. If price is able to breaks the 131.27 support level, we are then likely going to see price continue to move lower in the coming days as there is no immediate support level below after the 131.27 support level.
Silver – Silver continues to fell lower and breaks the 14.40 support level as we expected in our 10th 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 next support level at 13.98. Traders who went short at the break of the 15.27 support level and 14.75 support level as we recommended in our 3rd November 2015 Market Outlook and 5th November 2015 Market Outlook may continue to hold onto the short positions as well with a trailing stop behind to protect the profits.
Euro Pound – EUR/GBP continue to fell lower and is heading towards its 0.6950–0.6934 support area after price breaks the previous swing low at 0.7040 as we expected in our 12th November 2015 Market Outlook. Traders who went short at the 0.7195 resistance level as we recommended in our 6th November 2015 Market Outlook may consider continue holding onto the short position while traders who missed the shorting opportunity at the 0.7195 resistance level may consider short this market if price pullback to the 0.7042–0.7025 resistance area.
Posted on 2015-11-18 06:30:22