24th June 2015 Intraday Market Analysis

Posted On 24 Jun 2015

EURUSD

We saw price dropped heavily yesterday. Looking ahead, should price retrace back to the 1.1275 region, we will be shorting with stops above 1.1305, targeting the 1.1165 region.

AUDUSD

A potential Gartley pattern is setting up with PRZ around the 0.7770 region. Stops for this trade will have to be above the 0.7795 level. Targets can be set at the 0.7720 level.

USDCAD

Price is currently forming higher highs and higher lows. As long as price remains above the 1.2215 level, our sentiment remains bullish. We will be looking for a long setup around the 1.2280 region with stops below 1.2250 and targets around the 1.2340.

About the Author

A self-taught trader, Kar Yong was interviewed in Channel News Asia’s Money Mind Young Investor and featured as Social Guru on eToro social trading platform in 2013. He founded FX Pipsology in 2014, a platform dedicated to people with similar interest in forex trading. At present, Kar Yong is also a teacher and mentor to many. [space height="20"] [social type="facebook"]https://www.facebook.com/fxpipsology[/social] [social type="youtube"]https://www.youtube.com/channel/UCjsEg0JoKjwQF7X7dN8MHkQ[/social]