Pound Dollar – GBP/USD hit our first target at the 1.5020 support level after price rejected the 1.5246 resistance level as we expected in our 23rd November 2015 Market Outlook. Traders who went short as we recommended may consider taking partial profits off the table at the 1.5020 support level while leaving the rest to run further with a trailing stop behind.
Euro Swiss Franc – EUR/CHF rally into its minor resistance level at 1.0915 after price rejected the 1.0790 support level. Traders may consider buying into this market if price breakout above the 1.0915 resistance level as if price breakout above the resistance level, we are then likely going to see price continue to rally higher into its next resistance level at 1.1050.
Euro Yen – The bearish trend in EUR/JPY continue to move lower after price fell through its support levels. Given that the trend is still bearish, traders may look for shorting opportunities to jump on this bearish trend. 131.11–130.75 resistance area may offer traders some short term shorting opportunities which traders may look to short the market when price pullback to the resistance area.
Posted on 2015-11-30 06:30:06