Pound Dollar – GBP/USD continue to rally higher and is approaching its 1.3620 resistance level after price rejected its 1.3300–1.3270 support area as we expected in our 13th December 2017 Market Outlook. Traders who went long as we recommended may consider scale out the position at the 1.3620 resistance level while leaving the rest to run further with a trailing stop behind.
Euro Dollar – EUR/USD continue to rally higher after price rejected its 1.1845–1.1830 support area as we expected in our 22nd December 2017 Market Outlook. Traders who went long as we recommended may consider scale out the position at current price level and have a trailing stop behind as price is likely going to continue to rally higher in the coming days. Traders who missed the buying opportunity may still hunt for potential buy setups if price pullback into its 1.2030 support level.
NZD/CAD – NZD/CAD rejected its 0.8870 support level last Friday which could potentially lead price higher in the coming days. Since the short term trend is bullish at the moment, traders may consider buying into this market to jump on the bullish momentum. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.