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8th June 2018 Market Outlook


Aussie Dollar – AUD/USD once again rejected its 0.7660 resistance level yesterday which could potentially cause price to decline lower in the coming days. Since the long term trend is still bearish, traders may consider shorting this market to jump on the bearish trend and have the stop loss set 1 ATR above the resistance level to limit the losses in case price moves against us.

AUDUSDrDaily

 

Pound Kiwi – We have a resistance level above at 1.9270 in GBP/NZD where traders may consider shorting if price pullback into it as the short term trend is still bearish. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market for a safer entry.

GBPNZDrDaily

 

Silver – Silver once again rejected its 16.83 resistance level. Given that the market is still trading within the range of 16.83 resistance level and 16.15 support level, traders may consider shorting this market to jump on the potential bearish swing and have the first target set near 16.15 support level.

XAGUSDrDaily

Posted on 2018-06-08 06:30:12

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