FXOptimax Market Analysis

1st March 2018 Market Outlook


Pound Yen – GBP/JPY decline significantly lower after price rejected its 150.50 resistance level as we expected in our 22nd February 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.

GBPJPYrDaily

 

Euro Swedish Krona – EUR/SEK continue to rally higher after price breakout above its 10.0150–9.9900 resistance area as we expected in our 26th February 2018 Market Outlook. Traders who bought at the breakout of 10.0150–9.9900 resistance area and at the pullback of 9.8650 support level as we recommended in our 19th February 2018 Market Outlook may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side of the market.

EURSEKrDaily

 

Euro Yen – EUR/JPY decline lower after price breakout below its 131.20 support level as we expected in our 28th February 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind and have the first target set near 128.00 support level to lock in profits if price continue to moves in our favour.

EURJPYrDaily

Posted on 2018-03-01 06:30:23

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