18th September 2015 Market Outlook

Euro Dollar – EUR/USD continues to surge higher and is making higher high and higher low 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 long as we recommended may consider continue holding onto the long position while trailing the stop behind. Price is likely going to continue to move higher and may retest its next resistance level at 1.1700 in the near term.

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Aussie Dollar – AUD/USD rejected its 0.7240 resistance level yesterday. Given that the overall trend is still bearish, traders may consider shorting this market at this 0.7240 resistance level to jump on this bearish trend. Price is likely going to continue to move lower in the coming days. The next support level is not found until 0.6910 which offer traders decent profit margin to trade the short side.

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Silver – Silver breakout above its 14.94 resistance level which could potentially results in further gains in the coming days. Given that the momentum is bullish, traders may consider buying into this market when price pullback to the 14.94 support level (Previous resistance level). The next resistance level is at 15.62 which offer traders huge profit margin to trade the long side.

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