FXOptimax Market Analysis

6th June 2018 Market Outlook


Aussie Kiwi – AUD/NZD rally higher after price rejected its 1.0780–1.0750 support area as we expected in our 31st May 2018 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.

AUDNZDrDaily

 

Euro Yen – EUR/JPY is getting near to its 130.00–129.20 resistance area. Since the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to pullback deeper before shorting this market for a more favorable risk:reward trade.

EURJPYrDaily

 

Aussie Loonie – AUD/CAD rally higher after price breakout above its 0.9820 resistance level. The momentum is bullish at the moment therefore traders may consider buying into this market to ride on the bullish momentum. Traders may also wait for price to pullback into its 0.9820 support level (Previous resistance level) before buying into this market as it may offer more room for price to move.

AUDCADrDaily

Posted on 2018-06-06 06:30:51

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