FXOptimax Market Analysis

1st October 2018 Market Outlook


Euro Dollar – EUR/USD 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 with its decline in the near term.

EURUSDrDaily

 

Loonie Yen – CAD/JPY shot up higher after price breakout above its 87.30–86.80 resistance area as we expected in our 20th September 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position while traders who missed the buying opportunity may hunt for potential buy setups as price may pullback to close the bullish gap before continue its rally.

CADJPYrDaily

 

Kiwi Yen – NZD/JPY is currently consolidating at its 75.00 resistance level. Price could go either way therefore traders may consider short this market if price breakout below its consolidation while a breakout above its consolidation may lead price higher in the coming days as we have double bottom formed in this market which could be an early sign of price reversal.

NZDJPYrDaily

Posted on 2018-10-01 06:30:39

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