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    16th February 2016 Market Outlook

    Pound Loonie – GBP/CAD fell below its 1.9894 support level earlier today which turned into a resistance level now where traders may hunt for potential shorting opportunity to ride on this bearish trend. Ideally we would prefer to see price rejects the 1.9894 resistance level (Previous support level) before shorting for a safer entry.

     

     

    GBPCADrH1

     

    Gold – Gold pullback into its 1190.00–1182.00 support area and rejected it earlier today. Since the momentum is bullish at the moment, traders may consider buying into this market at this support area especially on the lower time frame to ride on the bullish momentum.

    XAUUSDrDaily

     

    Euro Dollar – EUR/USD is making its way back into the 1.1055 support level which could potentially cause price to bounce. If price rejects the 1.1055 support level, traders may then consider buying into this market as price is likely going to move higher if price rejects the 1.1055 support level.

    EURUSDrDaily

    Posted on 2016-02-16 08:35:39


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