Euro Pound – EUR/GBP breakout above its 0.8860 resistance level yesterday as we expected in our 11th July 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 Loonie – AUD/CAD bounce off higher and might pullback into its 0.9980 resistance level in the near term. Given that the recent momentum had been quite bearish, traders may consider shorting this market if price indeed pullback into the resistance level. Ideally we would prefer to see price rejections or any other form of confirmations before shorting this market for safer entry.
Aussie Kiwi – AUD/NZD breakout above its trading range yesterday which could potentially lead price higher in the coming days. Traders may consider buying into this market to ride on the bullish momentum. Conservative traders may also wait for price to pullback into its 1.0535 support level before buying into this market for a more favorable risk:reward trade.