Daily Forex Outlook – March 22, 2017

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Updated: Mar 22, 2017, 08:48 UTC

EUR/USD The pair looks set to break through higher as it did make an attempt to clear the region around 1.0830 yesterday but failed. The pair is decidedly

EUR/USD

The pair looks set to break through higher as it did make an attempt to clear the region around 1.0830 yesterday but failed. The pair is decidedly bullish and it only seems to be a matter of time before the pair moves higher and reaches as far high as 1.10 which will be a crucial figure technically, and is likely to provide some massive resistance if and when it gets there. …Read More

GBP/USD

The pair weakened during the early part of the day yesterday but shot right up towards the second half of the day and it looks good to test 1.25 where there are likely to be a lot of sellers lurking and it could be a good level to sell against. But if the pair does manage to get above 1.26, then we should be looking to buy. Read More

AUD/USD

The pair is trading weakly as the general risk-off mood in the market seems to be affecting it and making it to back off. The reversal pattern seen in the charts over the last 24 hours shows a shift in momentum and buyers should now be careful at these levels and have a rethink. In such a situation, the region around 0.7670 becomes crucial and it would require a break above that for the momentum to continue to be on the side of the buyers. …Read More

USD/JPY

The pair initially rallied yesterday but then as the day wore on, the risk off sentiment took over the markets and the pair fell. It is still in a ranging more and it isnt in a ripe selling mode as yet and hence traders would be well advised to see for a break on either side of the range before jumping in. …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.