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    22nd March 2016 Market Outlook

    Euro Dollar – EUR/USD is making its way back into its 1.1215 support level. If price rejects this support level, traders may then consider buying into this market as the short term trend is bullish at the moment. The next resistance level is at 1.1370 which may serve as the first target for traders to lock in profits.

     

     

    EURUSDrH4

     

    Japanese Yen – USD/JPY rejects its 110.95–110.00 support area and rally into its 112.20 resistance level which traders may consider shorting as the trend is bearish at the moment. However traders may need to be cautious with the 110.95–110.00 support area as the decline could be limited by the 110.95–110.00 support area.

    USDJPYrH4

     

    Norwegian Krone – We have a nice little resistance level in USD/NOK at 8.4600 which traders may consider shorting as the short term trend is clearly bearish at the moment. Threre is no immediate support level below which offer traders massive profit margin to trade the short side.

    USDNOKrDaily

    Posted on 2016-03-22 06:30:09


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