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9th November 2018 Market Outlook


Kiwi Dollar – NZD/USD pullback into its 0.6800 resistance level yesterday and rejected it as we expected in our 25th September 2018 Market Outlook. Traders who went short at the rejection of 0.6800 resistance level may consider continue holding onto the short position as the long term trend is still bearish at the moment.

NZDUSDrWeekly

 

Japanese Yen – USD/JPY continue to rally higher after price rejected its 111.73 support level as we expected in our 30th October 2018 Market Outlook. Traders who went long as we recommended may consider have the first target set around 114.70 resistance level to lock in profits if price indeed moves in our favor.

USDJPYrDaily

 

Aussie Loonie – AUD/CAD is making its way back into its 0.9600 resistance level. Since the overall trend is still bearish, traders may consider shorting this market if price pullback into its 0.9600 resistance level. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.

AUDCADrWeekly

Posted on 2018-11-09 06:24:20

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