Silver – Silver is making its way back into its 16.30–16.20 resistance area. Given that the trend is bearish, traders may consider shorting this market if price pullback into its 16.30–16.20 resistance area. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market to avoid false signals.
Euro Aussie – EUR/AUD once again rejected its 1.5850–1.5800 resistance area yesterday which could potentially lead price lower in the coming days. The short term trend is bullish at the moment, therefore conservative traders may want to wait for potential bullish setup while aggressive traders may consider shorting this market for a quick short term trade.
Pound Aussie – GBP/AUD continue to consolidates below its 1.7950–1.7910 resistance area. If price breakout above its 1.7950–1.7910 resistance area, we are then likely going to see price rally further into its 1.8180 resistance level. Traders may consider buying into this market at the breakout of 1.7950–1.7910 resistance area to jump on the potential bullish move.