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7th November 2018 Market Outlook


Japanese Yen – USD/JPY rally higher after price rejected its 111.73 support level as we expected in our 30th October 2018 Market Outlook. Given that the trend is still bullish, traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind and have the first target set around 114.70 resistance level to lock in profits if price indeed moves in our favor.

USDJPYrDaily

 

 

Aussie Kiwi – AUD/NZD continue to decline lower after price rejected its 1.0860 resistance level as we expected in our 26th October 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue with its decline into the next support level located at 1.0670.

AUDNZDrDaily

 

 

Kiwi Yen – NZD/JPY shot up significantly higher after price breakout above its 75.00 resistance level. Since the momentum is currently bullish, 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.

NZDJPYrDaily

Posted on 2018-11-07 06:30:27

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