FXOptimax Market Analysis

2nd March 2018 Market Outlook


Aussie Yen – AUD/JPY decline significantly lower after price breakout below its 84.00–83.73 support area as we expected in our 23rd 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 into its 81.54 support level in the near term.

AUDJPYrDaily

 

Japanese Yen – USD/JPY continue to decline lower after price rejected its 108.20–107.50 resistance area 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. There’s no immediate support level below which offer traders huge profit margin to trade the short side of the market.

USDJPYrDaily

 

Gold – Gold pullback into its 1321.90 resistance level and rejected it yesterday. Since the short term trend is still bearish, traders may consider shorting this market to jump on the bearish trend. The next support level is located at 1295.00 which offer traders massive profit margin to trade the short side of the market.

XAUUSDrH4

Posted on 2018-03-02 06:30:05

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