15th September 2015 Market Outlook

Euro Dollar – EUR/USD surge higher after price fails to break its 1.1215–1.1130 support area as we expected in our 8th September 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the long position while trailing the stop behind. Price is currently trading at a minor resistance level but if price is able to break through it, we will then see price rally higher into its next resistance level at 1.1700.

EURUSDrDaily

 

Gold – Gold fell through its 1124.60 minor support level after price rejected the 1163.00 resistance level as we expected in our 20th August 2015 Market Outlook and 26th August 2015 Market Outlook. Traders who went short at the 1163.00 resistance level may consider continue holding onto the short position as the overall trend is still bearish at the moment. We have a new resistance level at 1118.00 which may offer traders to short this market. If price pullback to this level and rejects it, we are then likely going to see price continue to move lower into its 1071.16 support level.

XAUUSDrH4

 

Euro Yen – EUR/JPY pullback to its 137.08 resistance level as we expected in our 1st September 2015 Market Outlook. Traders who went short at the 137.08 resistance level as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower. However due to the uncertainty in the market, traders are recommended to have tighter stop. There is no immediate support level below until 133.73–133.04 support area which offer traders huge profit margin to trade the short side.

EURJPYrDaily