Aussie Loonie – AUD/CAD rejected its 0.9790–0.9770 resistance area last Friday which could potentially lead price lower in the coming days. Given that the trend is still 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.
Loonie Dollar – USD/CAD pullback into its 1.3040–1.3100 support level last Friday. 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 for a safer entry.
Pound Yen – GBP/JPY breakout above its bearish trend line last week which opened up the door for potential further rally. We could also have a reversal taking place here therefore traders may hunt for potential buy setups to jump on the bullish move.