Weekly Forex Market Update & Key Levels June 1 – 5th

WEEKLY FOREX UPDATE

EURUSD – Continues to sell off and broke through an important support zone at 1.1045 earlier last week. A pullback into this zone is likely before possibly continuing its downward trend. Look for possible shorting opportunities at this level.

EURUSDDaily-053015

USDJPY- Finally broke through a sideways consolidation market that started last year.

USDJPYDaily-053015

USDCAD – We mentioned in a previous weekly update that the USDCAD was facing a strong support level at the 1.1978 level. It is now over 400+ pips above that level!

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Chris Ferreira

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