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    20th January 2016 Market Outlook

    Aussie Yen – AUD/JPY pullback into its 82.97–82.15 resistance area yesterday and fell lower as we expected in our 19th January 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position while having the first target set at the 79.60 support level to lock in profits.

     

     

    AUDJPYrDaily

     

    Euro Pound – EUR/GBP continue to makes higher high and breakout above its 0.7690 resistance level recently which had now turned into a support level where traders may look for potential buying opportunity when price pullback to the 0.7690 support level (Previous resistance level) to ride on the bullish trend.

    EURGBPrH4

     

    Kiwi Dollar – NZD/USD is trying to break its 0.6447–0.6401 support area. If price is able to cut through this support area, we are then likely going to see price continue to move lower into its next support level at 0.6244. Traders may consider looking for shorting opportunity to ride on this bearish trend.

    NZDUSDrDaily

    Posted on 2016-01-20 06:30:24


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