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10th January 2018 Market Outlook


Loonie Yen – CAD/JPY is making its way back into its 89.60–89.20 support area. Since the overall trend is still bullish, traders may consider buying into this market if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

CADJPYrDaily

 

Pound Kiwi – We have a resistance area at 1.8990–1.8970 in GBP/NZD which traders may consider shorting if price pullback into it as the overall trend is still bearish. Traders who intend to short this market may also have the first target set near 1.8800 support level to lock in profits if price moves in our favour.

GBPNZDrH4

 

 

Norwegian Krone – USD/NOK rejected its 8.1200 earlier this week which could potentially lead price lower in the coming days. Since the long term trend is still bearish, traders may consider shorting this market to jump on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

USDNOKrH4

Posted on 2018-01-10 06:30:40

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