forex outlook for 9 june 2015

forex intraday outlook and trading strategy for 9th june 2015

Euro is trading at 1.1236 with 1% plus gains against us dollar. Euro had taken support at 1.1070 and moving towards resistance of 1.1325. Which will be target level for tomorrow. On downside 1.1150 and 1.1080 are strong support zones. If euro crosses 1.1325 on daily closing basis then expect another short covering bout for target 1.1725.

Pound is trading at 1.5275 with flat gains for the day. On chart 1.54 is strong resistance and below it keep bearish view here. Pound tried to cross this strong resistance but failed and now in consolidation phase. On downside 1.4980 is positional target in current scenario.

Yen is trading at 125.06 with loss for the day. In intraday we seen high around 126 but now as market see profit booking pressure, yen also sliding down with them. On downside 124.6 is strong support and above it keep buy on dips view.

Swiss franc is trading at 0.9330 with almost 1% drop. For tomorrow below 0.9350 keep bearish view and expect downside targets of 0.9250 and below. On daily closing basis above 0.9350 keep long open and follow buy and accumulate view here.

Loonie is trading at 1.2425 with loss for the day. Cad is heading towards support of 1.23. Short to medium term outlook still bullish for pair but rally might resume after testing supports. For intraday 1.24 and 1.2350 are supports and 1.2490 and 1.2550 are strong resistances.

Aussie is trading at 0.7650 with half percentage gains for the day. A double bottom is created at 0.76 and take support at it. On upside 0.7680 and 0.7730 are strong resistances as well as target zones. If slips below 0.76 then that will be best shorting opportunity in AUD USD.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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