Euro Yen – EUR/JPY rally higher after price pullback into its 131.30–131.05 support area and rejected it as we expected in our 14th September 2017 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher in the coming days.
Aussie Kiwi – AUD/NZD rejected its 1.0960–1.0930 support area yesterday. Given that the long term trend is still bullish, traders may consider buying into this market to ride on the bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market. However traders may still have the first target set near previous swing high at around 1.1140 price level.
Loonie Dollar – USD/CAD is making its way back into its 1.2440 resistance level. Given that the trend is still bearish, traders may consider shorting this market when price pullback into the 1.2440 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market for a safer entry.