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6th February 2018 Market Outlook


NZD/CAD – NZD/CAD rally higher after price rejected its 0.9000 key support level as we expected in our 30th January 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.

NZDCADrDaily

 

Euro Dollar – EUR/USD has been bearish over the last few days. Price could potentially pullback into its 1.2270 support level before continue to rally higher. Given that the trend is still bullish, traders may consider buying into this market if price indeed pullback into its 1.2270 support level. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

EURUSDrDaily

 

Euro Kiwi – EUR/NZD is approaching its 1.6980–1.6950 support area. Since the trend is still bullish at the moment, traders may consider buying into this market to jump on the bullish trend. The next resistance level is located at 1.7130 which offer traders huge profit margin to trade the long side of the market.

EURNZDrH4

Posted on 2018-02-06 06:30:46

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