FXOptimax Market Analysis

28th February 2018 Market Outlook


Swedish Krona – USD/SEK rally higher after price breakout above its 8.1600 resistance level as we expected in our 27th February 2018 Market Outlook. Traders who went long as we recommended may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher in the coming days.

USDSEKrDaily

 

Euro Yen – EUR/JPY is trying to breakout below its 131.20 support level over the last few days. Since the trend is bearish at the moment, traders may consider shorting this market at the breakout of 131.20 support level to jump on the bearish trend. The next support level is located at 128.00 which offer traders huge profit margin to trade the short side of the market.

EURJPYrDaily

 

Loonie Dollar – USD/CAD rally higher after price pullback into its 1.2590 support level, we are likely going to see price continue to rally higher into its next resistance level located at 1.2910 in the coming days therefore traders may consider buying into this market to jump on this bullish swing. Traders may also zoom in to the lower time frame charts to fine tune the entry for a more favorable risk:reward trade.

USDCADrDaily

Posted on 2018-02-28 06:30:56

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