FXOptimax Market Analysis

8th March 2018 Market Outlook


Euro Swedish Krona – EUR/SEK continue to rally higher after price breakout above its 10.0150–9.9900 resistance area as we expected in our 26th February 2018 Market Outlook. Traders who went long at the breakout of 10.0150–9.9900 resistance area and at the pullback of 9.8650 support level as we recommended in our 19th February 2018 Market Outlook may consider continue holding onto the long position with a trailing stop behind as price is likely going to continue to rally higher. There’s no immediate resistance level above which offer traders massive profit margin to trade the long side of the market.

EURSEKrDaily

 

Aussie Yen – AUD/JPY continue its rally and is heading back into its 84.00–83.73 resistance area. If price indeed pullback into it, traders may then consider shorting this market to jump on the bearish trend. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market to avoid false signals.

AUDJPYrDaily

 

Pound Loonie – GBP/CAD rally higher after price breakout above its 1.7640 resistance level as we expected in our 20th 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 weeks. The next resistance level is located at 1.8200 which offer traders massive profit margin to trade the long side of the market.

GBPCADrDaily

Posted on 2018-03-08 08:14:53

Comment

comments powered by Disqus
Contact Us