FXOptimax Market Analysis

11th July 2018 Market Outlook


Loonie Dollar – USD/CAD rejected its 1.3040–1.3100 support area yesterday. Given that the trend is still bullish, traders may consider buying into this market to jump on the bullish trend and have the first target set near previous swing high to lock in profits if price moves in our favour.

USDCADrDaily

 

Euro Yen – EUR/JPY pullback into its 130.00 support level yesterday. Since the trend is still bullish, traders may consider buying into this market to ride on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.

EURJPYrH4

 

Aussie Loonie – AUD/CAD had a strong rejections off its 0.9790–0.9770 resistance area yesterday. Traders may consider shorting this market as price could decline lower in the coming days. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

AUDCADrDaily

Posted on 2018-07-11 06:30:32

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