FXOptimax Market Analysis

31st May 2018 Market Outlook


Norwegian Krone – USD/NOK formed an inside bar setup yesterday at the 8.1600–8.1400 support area. Since the longer term trend is bullish, traders may consider buying into this market to jump on the bullish trend. Traders may also wait for price to breakout above previous day high before buying into this market to avoid false signal.

USDNOKrH4

 

Pound Dollar – GBP/USD pullback into its 1.3350 resistance level. Given that the trend is still bearish, traders may consider shorting this market to jump on the bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmations for a safer entry.

GBPUSDrH4

 

 

Aussie Kiwi – AUD/NZD is making its way back into its 1.0780–1.0750 support area. If price indeed pullback into its 1.0780–1.0750 support area, traders may then consider buying into this market. Ideally we would prefer to see some price rejections or any other form of confirmations before buying into this market for a safer entry.

AUDNZDrDaily

Posted on 2018-05-31 13:10:43

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