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    29th July 2015 Market Outlook

    Euro Aussie – EUR/AUD pullback into its 1.5060 support level smoothly and rejected the 1.5060 support level. It’s a nice looking setup with the bullish trend. Traders may consider buying into this market in order to ride on the bullish trend. The bullish trend is still very strong at the moment thus we are likely going to see price continue to move higher in the coming days.

     

     

    EURAUDrH4

     

    Kiwi Yen – NZD/JPY is making its way back into its 84.05–83.31 resistance area. This is the nearest key resistance area in NZD/JPY and coupled with the strong bearish trend we have in all NZD pairs, we could potentially have high probability trade setup at this 84.05–83.31 resistance area thus if price pullback into the 84.05–83.31 resistance area, traders may then consider looking for shorting opportunities in this market to jump on this bearish trend.

    NZDJPYrDaily

     

    Aussie Dollar – AUD/USD rejected its 0.7334 resistance level earlier this morning. Traders may consider shorting this market as the overall trend is still bearish. The immediate support level is at the 0.7263 which offer traders decent profit margin to trade the short side. If price breaks the 0.7263 support level, we are then likely going to see price move even lower in the coming days.

    AUDUSDrH4

    Posted on 2015-07-29 06:30:22


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