FXOptimax Market Analysis

11th January 2018 Market Outlook


NZD/CAD – NZD/CAD rally higher after price rejected its 0.8870 support level as we expected in our 2nd January 2018 Market Outlook. Traders who went long as we recommended may consider scale out the position at current price level to lock in profits and leaving the rest of the position to run further with a trailing stop behind as price could potentially rally higher in the coming weeks.

NZDCADrDaily

 

Norwegian Krone – USD/NOK decline lower after price rejected its 8.1200 resistance level as we expected in our 10th January 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price could potentially decline lower in the coming days.

USDNOKrH4

 

Euro Dollar – EUR/USD is showing some rejections off its 1.1950–1.1930 support area yesterday which could potentially lead price higher in the coming weeks. Since the trend is still bullish, traders may consider buying into this market to jump on the bullish trend.

EURUSDrDaily

Posted on 2018-01-11 06:30:19

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