25th September 2015 Market Outlook

Gold – Gold breakout above the 1140.00 resistance level which opened up the door for potential further upside movement in the coming days. Given that the short term momentum had turned bullish after the breakout of the 1140.00 resistance level, traders may now consider buying into this market when price pullback to the 1140.00 support level (Previous resistance level) to ride on the bullish momentum. The next resistance level is not found until 1169.00 which offer traders huge profit margin to trade the upside.

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Euro Pound – EUR/GBP shot up into our target at the 0.7386 resistance level after price performed a false break at the 0.7223 support level as we expected in our 23rd September 2015 Market Outlook. Traders who went long as we recommended may consider taking profits at the 0.7386 resistance level as price rejected this resistance level yesterday which could potentially cause price to pullback before rally higher. Traders may also consider shorting this market as the market is still trading within the range of 0.7223 support level and 0.7386 resistance level.

EURGBPrDaily

 

Aussie Loonie – AUD/CAD fell lower after price breaks below the 0.9410 price level as we expected in our 22nd September 2015 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as the overall trend is still bearish. However we have a rejection yesterday which may cause price to rally thus traders are recommended to trail the stop as price move lower to lock in the profits.

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