22nd November 2018 Market Outlook

Euro Aussie – EUR/AUD rejected its 1.5670 support level earlier today. The long term trend is still bearish therefore conservative traders may wait for potential short setups while aggressive traders may consider buying into this market to jump on the potential bullish swing. The next resistance level is located at 1.5850 which offer traders good profit margin to trade the long side of the market.

Norwegian Krone – USD/NOK pullback into its 8.5150 support level earlier this week. Given that the trend is still bullish, traders may consider buying into this market to jump on the bullish trend. Ideally we would prefer to see some price confirmation before buying into this market to avoid false signals.

Euro Swedish Krona – EUR/SEK pullback into the 10.2850 support level which traders may hunt for potential buy setups. Ideally we would prefer to see some price rejections or any other form of confirmation before buying into this market to avoid false signals. There’s no immediate resistance level above which offer traders huge profit margin to trade the long side of the market.