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    12th May 2016 Market Outlook

    Euro Aussie – EUR/AUD surged higher after price rejected its 1.5415 support level as we expected in our 11th May 2016 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position as price is likely going to continue to rally higher in the coming days. Traders may apply trailing stop to lock in profits and protect the profits in case price reverse back down.

     

    EURAUDrH4

     

    Euro Dollar – EUR/USD starts to move higher in a slower fashion after price rejected its 1.1382 support level as we expected in our 9th May 2016 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position as price is likely going to rally higher into its next resistance level at 1.1615 in the coming days.

    EURUSDrH4

     

    Euro Kiwi – EUR/NZD rejected its 1.6830 resistance level earlier this week which could potentially push price lower in the coming days. The market is trading in a range at the moment and price rejected its upper trading range which could then decline lower to retest its 1.6120 support level. The trading range is quite wide which allows traders room to trade the range.

    EURNZDrDaily

    Posted on 2016-05-12 06:30:13


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