FXOptimax Market Analysis

1st June 2018 Market Outlook


Pound Dollar – GBP/USD decline lower after price pullback into its 1.3350 resistance level and rejected it as we expected in our 31st May 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.

GBPUSDrH4

 

Euro Dollar – EUR/USD pullback into its 1.1730 resistance level yesterday. Given that the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

EURUSDrH4

 

Pound Yen – GBP/JPY rejected its 145.35 resistance level yesterday. Since the long term trend is still bearish, traders may consider shorting this market to jump on the bearish trend and have the first target set near previous swing low at around 143.20 support level.

GBPJPYrH4

Posted on 2018-06-01 06:30:44

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