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    16th June 2016 Market Outlook

    NZD/CAD – NZD/CAD shot up significantly higher after price rejected its 0.8975 support level as we expected in our 15th June 2016 Market Outlook. Price even breakout above the 0.9095 resistance level which opened up the door for potential further rally in the coming days. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind to lock in profits as price is likely going to continue to rally higher in the coming days. Traders who missed the buying opportunity may still look for potential buy setups when price pullback to support level to jump on this bullish trend.

     

    NZDCADrH4

     

    Japanese Yen – USD/JPY decline significantly lower after price rejected its 106.38 resistance level as we recommended in our 14th June 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue to decline lower into its next support level at 104.10.

    USDJPYrH4

     

    Aussie Kiwi – AUD/NZD decline lower after price rejected its 1.0540 key resistance level as we expected in our 15th June 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower in the coming days. Traders may also have the first target set near previous swing low at 1.0410 to lock in profits.

     

    Posted on 2016-06-16 06:30:26


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