FXOptimax Market Analysis

9th January 2018 Market Outlook

Euro Dollar – EUR/USD pullback into its 1.1950–1.1930 support area earlier today as we expected in our 8th January 2018 Market Outlook. Since the trend is still bullish, traders may consider buying into this market to ride on the bullish trend. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.



Pound Dollar – GBP/USD consolidates below its 1.3620 resistance level over the last few trading days. If price is able to breakout above its 1.3620 resistance level, we are then likely going to see further rally coming into this market in the coming days. Traders who went long at the rejection of 1.3300–1.3270 support area as we recommended in our 13th December 2017 Market Outlook may also scale in the long position at the breakout of the 1.3620 resistance level to maximize the profit potential of this bullish run.



Aussie Loonie – We have a resistance level at 0.9780 in AUD/CAD which traders may hunt for potential shorting opportunities as the short term trend is still bearish at the moment. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market for a safer entry.


Posted on 2018-01-09 07:50:58


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