Euro Dollar – EUR/USD is making its way back into its 1.1950–1.1930 support area. Since the trend is still bullish, traders may consider buying into this market if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.
Euro Loonie – EUR/CAD breakout below its 1.5020–1.5000 key support area last Friday which opened up the door for potential further decline. The short term momentum is bearish therefore traders may consider shorting this market to jump on the bearish momentum. Traders may also wait for price to pullback into its 1.5020–1.5000 key resistance area (Previous support area) before shorting this market for a more favorable risk:reward trade.
Euro Yen – EUR/JPY is showing bearish sign today which could potentially cause price to pullback into its 134.30 support level before continue to rally higher. Since the long term trend is still bullish, traders may hunt for potential buying opportunity if price pullback into its 134.30 support level to jump on the bullish trend. Traders may also wait for confirmations before buying into this market to avoid false signals.