FXOptimax Market Analysis

2nd October 2018 Market Outlook


Euro Kiwi – EUR/NZD pullback into its 1.7480–1.7380 support area earlier this week. Given that the trend is bullish, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price rejections or any other form of price confirmation before buying into this market to avoid false signals.

EURNZDrDaily

 

Loonie Dollar – USD/CAD had a strong breakout below its 1.2900 support level earlier this week which has now turned into a resistance level. Price is likely going to continue to decline lower in the coming weeks therefore traders may hunt for potential short setups to jump on the bearish trend especially if price pullback into its resistance level.

USDCADrDaily

 

Euro Yen – EUR/JPY is making its way back into its 130.80 support level. Given that the trend is bullish, traders may consider buying into this market if price indeed pullback into its 130.80 support level. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market for a safer entry.

EURJPYrDaily

Posted on 2018-10-02 06:30:36

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