30th October 2018 Market Outlook

Aussie Kiwi – AUD/NZD started to decline lower after price rejected its 1.0860 resistance level as we expected in our 26th October 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 is likely going to continue with its decline in the coming days.

AUDNZDrDaily

 

Japanese Yen – USD/JPY once again rally higher after price rejected its 111.73 support level as we expected in our 17th 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 with its bullish moves in the coming days.

USDJPYrDaily

 

Aussie Dollar – AUD/USD is currently consolidating and if price breakout below its consolidation, we are then likely going to see further decline coming into this market in the coming days. Given that the long term trend is still bearish, traders may consider shorting this market at the breakout of its consolidation to jump on the bearish trend.

AUDUSDrDaily