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13th November 2018 Market Outlook


Euro Dollar – EUR/USD continue to decline lower and making new lows. Given that the overall trend is still bearish, traders may consider shorting this market if price pullback into its 1.1350–1.1320 resistance area. Ideally we would prefer to see some price rejections or any other form of confirmation before shorting this market for a safer entry.

EURUSDrH4

 

Aussie Loonie – AUD/CAD is approaching its 0.9600 resistance level. Since the overall trend is still bearish, traders may consider shorting this market if price pullback into its 0.9600 resistance level. Traders may also go down to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade or hunt for potential short term trades.

AUDCADrWeekly

 

Norwegian Krone – USD/NOK is still in a strong bullish trend. If price pullback into its 8.4400 support level, traders may consider buying into this market to jump on the bullish trend. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side of the market.

USDNOKrH4

Posted on 2018-11-13 14:47:00

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