FXOptimax Market Analysis

11th October 2018 Market Outlook


Norwegian Krone – USD/NOK decline lower after price pullback into its 8.3250–8.2900 resistance area and rejected it as we expected in our 10th 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 its decline in the coming days.

USDNOKrDaily

 

Pound Aussie – GBP/AUD continue to rally higher after price pullback into its 1.7950 support level and rejected it as we expected in our 25th September 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the position with a trailing stop behind as price is likely going to continue its bullish move in the coming weeks.

GBPAUDrDaily

 

Pound Yen – GBP/JPY consolidated below its 149.50 resistance level for quite a few weeks now. Given that the short term trend is bullish at the moment, traders may consider buying into this market at the breakout of 149.50 resistance level to jump on the bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.

GBPJPYrDaily

Posted on 2018-10-11 06:30:25

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