Daily Forex Outlook – March 23, 2017

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Updated: Mar 23, 2017, 13:01 UTC

EUR/USD The pair is still consolidating the gains that it has made over the last couple of weeks and now trades just short of the 1.0800-0830 region where

EUR/USD

The pair is still consolidating the gains that it has made over the last couple of weeks and now trades just short of the 1.0800-0830 region where a lot of selling is expected. The bulls would be looking for progress beyond this region and would be helped immensely if the voting on the repeal of Obamacare does not go according to the plan. This could lead to dollar selling across the board and this could then push the pair beyond 1.0850 which will then open up 1.10. …Read More

GBP/USD

There has not been much progress in the pair as it loitered around the 1.24-1.25 region. It was affected briefly by the attack in London but it managed to recover during the course of the late evening trading and looks to break through 1.25 level which will be crucial for further progress through to 1.27. …Read More

AUD/USD

The pair fell for a brief while yesterday but it did manage to recover during the course of the day which shows that there are many buyers lurking underneath who are expected to keep the pair supported on every correction. A move above 0.7750 level is expected to push the pair further towards 0.8000 but it remains to be seen whether the bulls can push through. …Read More

USD/JPY

The pair fell yesterday on the back of some risk-of mode trading in the global markets but a recovery from here would show that there is a strong support in that region and would give more confidence for the buyers. The level between 110 and 112 is going to be the key to trading this pair going forward and a break in either direction could lead to a much larger move. …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.