Pound Yen – GBP/JPY fell significantly lower after price rejected its 175.76–174.84 resistance area as we expected in our 3rd February 2016 Market Outlook. Traders who went short as we recommended may consider taking partial profits at the previous swing low while leaving the rest for potential further decline.
Euro Aussie – EUR/AUD rally higher after price pullback into its 1.5330 support level as we expected in our 27th January 2016 Market Outlook. Traders who went long as we recommended may consider taking profits at the 1.6250–1.6074 resistance area as it’s quite a heavy resistance area for price to breakthrough but if price breakout above this resistance area, we are then likely going to rally higher into its next resistance level at 1.6575.
Euro Dollar – EUR/USD breakout above its 1.1114 resistance level and rally higher as we expected in our 4th February 2016 Market Outlook. Price did pullback into its 1.1114 support level (Previous resistance level) before continue to rally higher which offer traders second chance to catch on this breakout. There’s no immediate resistance level until 1.1458 which offer traders massive profit margin to trade the long side.
Posted on 2016-02-10 09:42:53