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14th November 2018 Market Outlook


Aussie Kiwi – AUD/NZD continue to decline lower and breakout below its 1.0670 support level after price rejected its 1.0860 resistance level as we expected in our 26th October 2018 Market Outlook. Given that the trend is still bearish, traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind and have the next target set around 1.0500 key support level.

AUDNZDrDaily

 

Kiwi Yen – NZD/JPY continue to rally higher after price breakout above its 75.00 resistance level. Traders who went long as we recommended in our 7th November 2018 Market Outlook may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue with its bullish move in the coming days.

NZDJPYrDaily

 

Loonie Dollar – USD/CAD has a good support area located at 1.3160–1.3140 which traders may consider buying into if price pullback into it as the trend is still bullish at the moment. If price indeed pullback into it, traders may wait for price rejections or any other form of confirmation before buying into this market to avoid false signals.

USDCADrH4

Posted on 2018-11-14 13:54:55

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