Gold – Gold rally into its 1111.70 resistance level as we expected in our 14th January 2016 Market Outlook after price pullback into its 1082.00–1079.00 support area and rejected it as we expected in our 13th January 2016 Market Outlook. Traders who went long as we recommended may consider taking partial profits at the 1111.70 resistance level while leaving the rest to run further with a trailing stop behind. If price is able to breaks the 1111.70 resistance level, we are then likely going to see price rally higher in the coming days.
Loonie Dollar – USD/CAD pullback into its 1.4137 support level and rejected it yesterday which could potentially push price higher in the coming days. Given that the overall trend is still bullish at the moment, traders may consider buying into this market to ride on this bullish trend.
Aussie Yen – AUD/JPY once again pullback into its 82.97 key resistance level and rejected it yesterday. Since the overall trend is still bearish, traders may consider shorting this market. The AUD/USD is weak at the moment which increase the odds of this shorting opportunity.
Posted on 2016-01-26 06:30:05