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7th June 2018 Market Outlook


Aussie Loonie – AUD/CAD continue to rally higher after price breakout above its 0.9820 resistance level as we expected in our 6th June 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

AUDCADrDaily

 

Euro Dollar – EUR/USD breakout above its 1.1730 resistance level which now turned into a support level where traders may hunt for potential buy setups if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

EURUSDrH4

 

Euro Kiwi – EUR/NZD rejected its 1.6620–1.6520 support area yesterday. Traders may consider buying into this market to jump on the bullish swing as the market is still moving sideway and price rejected the lower end of the trading range. On the other hand, a breakout below its 1.6620–1.6520 support area could lead to a strong bearish swing.

EURNZDrDaily

Posted on 2018-06-07 06:30:24

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