Daily Forex Outlook – March 21, 2017

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Published: Mar 21, 2017, 08:24 UTC

EUR/USD The pair tried to make a move towards 1.0800 on Monday in an effort to break through but it failed and was quickly beaten back. We believe that

EUR/USD

The pair tried to make a move towards 1.0800 on Monday in an effort to break through but it failed and was quickly beaten back. We believe that there will be few more attempts at this price and then it is likely to fall down towards 1.07 and maybe even lower. 1.06 is likely to be high supportive in the short term but the market is expected to trade choppily in the meantime. …Read More

GBP/USD

The pair seems to be making a zig zag pattern, technically, and a continuation of this pattern is expected to target 1.2400 and then 1.2480. But for such a scenario to come true, it is important that the support at 1.2300 remains unbroken and the price continues to stay above it. …Read More

AUD/USD

The pair made an attempt to move higher as it challenged the 0.7750 level which has been a very strong hurdle for the prices over the last few weeks. If it does manage to break through, then it could move much higher and targer 0.8000 and any pullback should be viewed as a buying opportunity. If gold supports this move and moves higher, then AUDUSD should feel supported. …Read More

USD/JPY

The pair did not move much for most of the day yesterday and seems to be caught within the 112 and 113 levels. A move below 112 level would open up 111 while a move above 113 would open up 114 and it remains to be seen how the dollar would shape up in the coming days. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.