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    1st July 2015 Market Outlook

    Japanese Yen – Yesterday USD/JPY pullback to its key support area at 122.01–121.79. Given that we are still in a bullish trend over the long term horizon, traders may consider buying into this market at the 122.01–121.79 key support area as price is likely going to make new high if price bounce off away from this key support area at 122.01–121.79. Waiting for a confirmation at this support area especially on the weekly chart may help traders to avoid any fake bounce.

     

     

    USDJPYrDaily

     

    Aussie Loonie – Yesterday AUD/CAD broke its 0.9594 resistance level and pullback to its 0.9594 support level (Previous resistance level) after the breakout. If price pullback to its 0.9594 support level again, traders may consider buying into this market as the trend is still bullish at the moment. The next resistance level is not found until 0.9716 which offer traders massive profit margin to trade the long side.

    AUDCADrH1

     

    Aussie Kiwi – AUD/NZD is showing some weakness over the last few trading session. The momentum is still up at the moment thus if price pullback to the 1.1293 support level, traders may then consider buying into this market. Ideally, we would prefer to see price rejects this support level or any other confirmation before buying into this market for safer entry.

    AUDNZDrH4

    Posted on 2015-07-01 06:30:39


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