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    1st September 2015 Market Outlook

    Loonie Dollar – USD/CAD performed a false break at the 1.3206 resistance level which may pull price lower in the coming days. Given that the overall trend is still bullish, conservative traders are recommended to wait for price to pullback to its 1.2830–1.2780 support area before going long while aggressive traders may consider shorting this false break and may have the 1.2830–1.2780 support area as the first target to lock in some profits.





    Loonie Yen – CAD/JPY is making some rejections at its 92.00 resistance level. Given that the overall trend is still bearish, traders may consider shorting this market at this resistance level. However, if price rally through the 92.00 resistance level, traders may still look for shorting opportunities at the 94.10 resistance level to jump on this overall bearish trend.



    Euro Yen – EUR/JPY is consolidating over the shorter term time frame. We have a resistance level at 137.08 which offer traders a good spot to hunt for shorting opportunities. If price pullback into the 137.08 resistance level and rejects it, we are then likely going to see price decline lower in the coming days. There’s a few minor support level below but the key support level is located at the 133.73 thus traders may set the target at the 133.73 key support level while trailing the stop along the way to lock in the profits.


    Posted on 2015-09-01 06:30:46

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