Euro Dollar – EUR/USD is having a rejection at the 1.1382 support level which could potentially push price higher in the coming days as the trend is still bullish at the moment. Traders may consider buying into this market to ride on the bullish trend. The next resistance level is not found until 1.1610 which offer traders good profit margin to trade the long side.
Japanese Yen – USD/JPY is making its way back into the 107.85 resistance level. Given that the overall trend is still bearish, traders may consider looking for shorting opportunity around this resistance level. Ideally we would prefer to see price rejects the 107.85 resistance level before shorting for a safer entry.
Aussie Kiwi – We have a nice little resistance level above in AUD/NZD at 1.0800 which traders may look for potential shorting opportunity to short this market as the momentum is still bearish at the moment. There is no immediate support level below which offer traders massive profit margin to trade the short side.
Posted on 2016-05-09 06:30:53