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2nd July 2018 Market Outlook


Euro Kiwi – EUR/NZD rally into its 1.7260 resistance level after price rejected its 1.6620–1.6520 support area as we expected in our 7th June 2018 Market Outlook. Traders who went long as we recommended may consider scale out the position at current resistance level and leave the rest to run further with a trailing stop behind. If price is able to breakout above its 1.7260 resistance level, we are then likely going to see price rally further into its next resistance level at 1.7480.

EURNZDrDaily

 

Loonie Dollar – USD/CAD pullback into its 1.3040–1.3100 support level last week. Given that the trend is still bullish, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmation around its 1.3040–1.3100 support level before buying into this market to avoid false signals.

USDCADrDaily

 

Silver – Silver rejected its 16.15 resistance level last Friday which could potentially lead price lower in the coming days. Traders may consider shorting this market to jump on the potential bearish swing. The next key support level is located at 15.20 which offer traders huge profit margin to trade the short side of the market.

XAGUSDrDaily

Posted on 2018-07-02 06:30:26

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