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    4th February 2016 Market Outlook

    Gold – Gold rally higher after price rejected its 1111.70 support level as we expected in our 27th January 2016 Market Outlook. Traders who went long as we recommended may consider may consider holding onto the long position as price is likely going to continue to move higher in the coming days while traders who missed the long opportunity may consider wait for price to pullback into the 1127.90 before buying into this market.

     

     

    XAUUSDrH4

     

    Euro Dollar – EUR/USD rally higher into its 1.1114 resistance level after price breakout above the triangle chart pattern as we expected in our 28th January 2016 Market Outlook. Price is currently trading at its 1.1114 resistance level which if price breakout above this resistance level, we could potentially see price rally higher in the coming days.

    EURUSDrDaily

     

    Aussie Yen – AUD/JPY fell lower into its 83.37 support level and rejected it after price rejected the 86.18 resistance as we expected in our 29th January 2016 Market Outlook. Traders may consider buying into this market as price could potentially rally back into its 86.18 resistance level in the coming days.

    AUDJPYrDaily

    Posted on 2016-02-04 06:30:59


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