Euro Kiwi – EUR/NZD shot up significantly higher after price pullback into its 1.7480–1.7380 support area and rejected it as we expected in our 2nd October 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 its bullish moves in the coming days.
Loonie Yen – CAD/JPY is making its way back into its 86.70–86.20 support area. Given that the overall trend is still bullish, traders may consider buying into this market if price indeed pullback into its 86.70–86.20 support area. Ideally we would prefer to see some price rejections or any other form of confirmations before shorting this market to avoid false signals.
Norwegian Krone – USD/NOK is currently trading below its 8.3250–8.2900 resistance area. Since the short term trend is bearish, traders may consider shorting this market to jump on the bearish trend. Traders may also wait for price confirmations before shorting this market for a safer entry.