25th July 2014 Market Outlook

Euro Dollar – EUR/USD continue to stalls after the significant move lower. Price shows some rejection yesterday and we might see price rally from here to its 1.3512 key resistance level. Traders may then consider sell short at this 1.3512 key resistance level if price approach it.

EURUSDrH4

 

Aussie Dollar – AUD/USD rejected its 0.9436 resistance level yesterday. Aussie dollar is currently trading in a trading range and price is likely to falls back to its 0.9326 support level in the near term. However if price breaks its 0.9510 resistance level (1st July 2014 high), we might see price continue to trade higher from here.

AUDUSDrDaily

 

Japanese Yen – In USD/JPY, 101.20 key support level continue to hold firmly and price has bounce higher from this support level. We are likely going to see price continue to move higher from here to its next resistance level at 102.25. Price will need to breaks through the 101.20 key support level decisively to invalid this key support level. Until then, traders are recommended to stay long/buy when price approach this 101.20 key support level.

USDJPYrDailyonsider buying on dips to join this strong bullish move.