EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 19, 2018

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Published: Feb 19, 2018, 08:28 UTC

EUR/USD The pair pulled down significantly during the Friday's session reaching towards the 1.24 level which offered a bit of support. Overall, the market

EUR/USD

The pair pulled down significantly during the Friday’s session reaching towards the 1.24 level which offered a bit of support. Overall, the market is in general uptrend and pullback like this offers a good buying opportunity. If the market further breaks down, the 1.23 level and 1.21 level is going to offer maximum support. All the pullbacks are a technical move based on the recent highs and buyers will get attracted to take this market forward. …Read More

GBP/USD

The British Pound dropped significantly during the Friday’s session reaching towards the 1.40 level which should offer support based on its large, round, psychologically significant nature. The pair is expected to attract a large number of buyers from the lower level and given the weakness in the US Dollar, it will find enough buying pressure. In the higher side, 1.43 level is going to be a bit resistive based upon longer-term charts. …Read More

AUD/USD

The AUD initially tried to break out above the 0.80 level at the Friday’s session but rolled over significantly reaching towards the 0.79 level underneath which continues to offer strong support. Buyers are likely to get involved to take this market higher as the anti-USD sentiments continue in the market. The pair is also likely to get support from the gold prices which is in general uptrend move. A break above 0.80 level and then 0.81 level will take this market higher in the long term. …Read More

USD/JPY

The USD initially tried to rally during the Friday’s session against JPY but turned around 106 level. The market is trying to build some amount of buying pressure but given the weakness in the USD, sellers get involved in the market in any short-term rally. Until this market breaks above the 107.50 level, buyers will avoid getting involved. The 105 level is a strong support for the market and if it goes below this level then it will be a very negative move which could further push this market lower and also be a long term bear market. …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.