Gold – Gold rejected its 1216.00 resistance level yesterday which could potentially lead price lower in the coming days. Given that the trend is bearish, traders may consider shorting this market to jump on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.
Silver – Silver continue to decline lower after price pullback into its 15.78–15.67 resistance area and rejected it as we expected in our 26th July 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position while traders who missed the shorting opportunity may still hunt for short setups if price pullback into its 14.28–14.23 resistance area.
Euro Swedish Krona – EUR/SEK once again pullback into its 10.3000 key resistance level and rejected it yesterday which could potentially cause price to move lower in the coming days. There’s no immediate support level below as well but traders may still have the first target set near previous swing low at 10.2100 price level.