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12th February 2018 Market Outlook


Kiwi Dollar – NZD/USD rally higher after price rejected its 0.7190 support level as we expected in our 9th February 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher in the coming days.

NZDUSDrDaily

 

Loonie Dollar – USD/CAD rejected its 1.2660 resistance level last Friday which could potentially lead price higher in the coming days. Since the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price to breakout below its Friday low before shorting as it may serve as a confirmation for traders. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

USDCADrDaily

 

 

Aussie Kiwi – AUD/NZD is currently consolidating below its 1.0880–1.0850 resistance area. If price is able to breakout below its consolidation, we are then likely going to see further decline coming into this market in the coming days. The next support level is located at 1.0600 which may serves as the first target for traders who intend to short this market.

AUDNZDrDaily

Posted on 2018-02-12 06:30:13

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