Loonie Yen – CAD/JPY decline lower after price rejected its 87.30–86.80 resistance area. The short term trend is bullish at the moment therefore conservative traders may wait for price breakout to buy into this market to jump on the bullish trend while aggressive traders may consider shorting this market for a quick short term trade.
Euro Dollar – EUR/USD consolidates below its 1.1800 resistance level since last week. Given that the long term trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to breakout below its consolidation before shorting this market for a safer entry.
Aussie Loonie – AUD/CAD is heading back towards its 0.9580 resistance level. If price indeed pullback into it, traders may consider shorting this market to jump on the bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.