Euro Yen – EUR/JPY pullback into its 131.30–131.05 support area earlier today which traders may hunt for potential buying opportunities. Traders may also wait for price to rejects the 131.30–131.05 support area before buying into this market for a safer entry. Traders may zoom in to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.
Gold – Gold is showing some declines over the last few days. If price pullback into its 1295.00 support level, traders may then hunt for potential buying opportunities to ride on this bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.
Aussie Kiwi – AUD/NZD is making its way back into its 1.0960–1.0930 support area. Given that the longer term trend is still bullish, traders may consider buying into this market to ride on this bullish trend. Ideally we would prefer to see price rejections or any other form of confirmation before buying into this market to avoid false signals.