The US Dollar
The U.S. dollar index has broken the weekly flat, got back to the broken upper boundary and pulled back away from it. Thus, it is quite likely that the U.S. Dollar will balance again especially when it comes to single currency:
The Australian index AUS200 has touched the resistance level of 5832 in the daily chart to pull back from it thereafter forming dojis. We should take short positions at the market opening to ensure a good profit/stop ratio. Let us remind you that this process will imply a countertrend trading:
Sell 5815.00, Stop Loss 5865.00, Take Profit 5615.00.
The USD/JPY is approaching a broken descending channel and strong resistance level of 112.50, which is also serving as a 50% Fibonacci level extended along the points of 98.998 and 125.854.
Stay tuned for more and trade with Tickmill!