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15th June 2015 Market Outlook

 

 

Loonie Dollar – USD/CAD rally higher after price rejected the 1.2204 support level as we expected in our 10th June 2015 Market Outlook. Price is moving towards its 1.2367 resistance level. If price hit this resistance level and rejects it, traders may then consider shorting this resistance level while traders who went long at the 1.2204 support level as we recommended may consider taking profits at this resistance level.

 

 

USDCADrH4

 

Pound Dollar – GBP/USD printed higher high and higher low on the chart showing that the momentum had turned into bullish after price breaks the 1.5443 resistance level. If price pullback to the 1.5443 support level (Previous resistance level), traders may then consider buying into this market as price is likely going to continue rally higher into its 1.5790 resistance level in the coming days.

GBPUSDrDaily

 

Euro Pound – Unfortunately EUR/GBP did not bounce off away from its 0.7266 support level but breaks lower. The momentum had turned bearish after price breakdown from its trading range. Traders may consider shorting this market when price pullback to resistance level to ride on this fresh bearish momentum. The next key support level is not found until 0.7055 which offer traders massive profit margin to trade the short side.

EURGBPrH4

Posted on 2015-06-15 06:30:17



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