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4th January 2018 Market Outlook


Euro Yen – EUR/JPY rally higher after price breakout above its consolidation. Since the trend is still bullish, traders may consider buying into this market if price pullback into its 134.30 support level to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

EURJPYrDaily

 

Gold – Gold is showing bearish sign yesterday which could potentially cause price to pullback before continue to rally higher. We have a nice support area below at 1299.00–1295.00 which traders may hunt for potential buy setups if price pullback into it. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

XAUUSDrDaily

 

 

Aussie Yen – AUD/JPY consolidates below its 88.10 resistance level which if price breakout above it, we could potentially see price rally higher into its next resistance level at 89.10. Given that the trend is still bullish, traders may consider buying into this market at the breakout of 88.10 resistance level.

AUDJPYrDaily

Posted on 2018-01-04 06:30:35

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