Kiwi Dollar – NZD/USD continue to move sideway. Price decline back into its lower range of the consolidation on last Friday which traders may anticipate for a long setup to trade the range. However if price breakout below the consolidation, we could potentially see price decline even lower in the coming days.
Euro Yen – EUR/JPY pullback into its 126.28–125.00 key resistance area and decline lower as we expected in our 25th February 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as we are likely going to see price continue to move lower in the coming days.
Silver – Silver is making its way back into the 14.55–14.37 support area. Traders may consider buying into this support area if price rejects the support area. However due to the overall trend is still bearish, traders will need to be more conservative on stop placements and profit targets.
Posted on 2016-02-29 06:57:35