Euro Dollar – EUR/USD pullback into its 1.2270 support level as we expected in our 6th February 2018 Market Outlook. Since the overall trend is still bullish, traders may consider buying into this market to jump on the bullish trend. On the other hand, if price breakout below its 1.2270 support level, we are then likely going to see further decline into its 1.2070 support level in the near term.
Euro Pound – EUR/GBP is making its way back into its 0.8820–0.8810 support area. The short term trend is bullish at the moment therefore traders may consider buying into this market to ride on the short term bullish trend. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market to avoid false signals.
Euro Swedish Krona – Over the exotic currency pair, EUR/SEK breakout above its 9.8650 resistance level which now turned into a support level where traders may consider buying into if price pullback into it as the trend is still bullish at the moment. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.