Kiwi Dollar – NZD/USD is in a strong bearish momentum and price could potentially decline lower in the coming days. Traders may consider shorting this market at current price level to ride on the bearish momentum or wait for price to pullback to resistance level before shorting this market for a better risk:reward trade.
Loonie Dollar – USD/CAD is currently trading at its 1.2950 resistance level. The Daily time frame trend is still bearish but the long term weekly trend is still bullish thus traders may consider buying into this market as price could potentially surge higher in the coming days. Traders may also consider wait for price to pullback into its 1.2749 support level before buying but price could potentially shot up higher without a pullback.
Pound Kiwi – GBP/NZD continue to prints higher highs and higher lows which shows the bulls are taking control in this market. If price pullback into its 2.1340 or 2.1220 support level, traders may then consider buying into this market. Ideally we would prefer to see price rejects the support level before buying into this market for a safer entry.
Posted on 2016-05-10 06:30:29