FXOptimax Market Analysis

10th October 2018 Market Outlook


Euro Dollar – EUR/USD continue to decline lower after price breakout below its consolidation as we expected in our 27th September 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 to decline lower in the coming days. Traders who missed the shorting opportunity may still hunt for potential short setups if price pullback into the 1.1545 resistance level especially on the lower time frame charts.

EURUSDrDaily

 

 

NZD/CAD – NZD/CAD continue to decline lower after price rejected its 0.8720–0.8680 resistance area as we expected in our 20th August 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as there’s no immediate support level below current price level.

NZDCADrDaily

 

Norwegian Krone – USD/NOK pullback into its 8.3250–8.2900 resistance area and rejected it yesterday which may potentially lead price lower in the coming days. Since the short term trend is bearish, traders may consider shorting this market especially if price breakout below yesterday low to jump on the bearish trend. Traders may also wait for any other form of confirmations before shorting this market for a safer entry.

USDNOKrDaily

Posted on 2018-10-10 06:30:51

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