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9th February 2018 Market Outlook


Kiwi Dollar – NZD/USD pullback into its 0.7190 support level and rejected it yesterday which could potentially lead price higher in the coming days. Since the trend is still bullish, traders may consider buying into this market to jump on the bullish trend. Conservative traders may wait for price to breakout yesterday high before buying into this market as it may serve as a confirmation for traders.

NZDUSDrDaily

 

Gold – Gold is making its way back into its 1329.00–1325.00 resistance area which traders may hunt for potential shorting opportunities if price pullback into it. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.

XAUUSDrH4

 

Loonie Yen – CAD/JPY breakout below its 87.30–86.80 support area yesterday which now turned into a resistance area where traders may consider shorting if price pullback into it. The next support level is located at 85.50 which offer traders good profit margin to trade the short side of the market.

CADJPYrDaily

Posted on 2018-02-09 06:30:31

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