Aussie Loonie – AUD/CAD rallied significantly higher after price breakout above the 0.9578 resistance level as we expected in our 20th November 2015 Market Outlook. Traders who went long at the breakout of the 0.9578 resistance level or at the rejection of 0.9442 support level as we expected in our 13th November 2015 Market Outlook may consider continue holding onto the long position while taking advantage of the bullish trend when price pullback to the 0.9578 support level (Previous resistance level) to maximize the potential profits of this bullish trend, traders who missed the buying opportunities may as well buy into this market when price pullback to the 0.9578 support level.
Aussie Yen – AUD/JPY rallied higher after it breakout away from its consolidation as we expected in our 12th November 2015 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to rally into its 89.33 resistance level in the near term.
Euro Pound – EUR/GBP is currently trading at its 0.7042–0.7025 resistance area which traders may consider shorting as the trend is still bearish at the moment. Ideally, we would like to see price rejects this resistance area before shorting for a safer entry. Traders may also consider look into smaller time frame charts for shorting confirmation to get a more precise entry point.
Posted on 2015-11-24 06:30:38