EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 27, 2018

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Published: Feb 27, 2018, 07:22 UTC

EUR/USD The pair initially rallied reaching towards the 1.2350 level in the Monday's session but got significant resistance and rolled over towards 1.23

Forex Trading Signals - February 19, 2018

EUR/USD

The pair initially rallied reaching towards the 1.2350 level in the Monday’s session but got significant resistance and rolled over towards 1.23 level. The market is trying to build up enough buying momentum and is also trying to form a base which will attract a lot of buyers in the market. The 1.2275 level underneath is massively supportive and 50 EMA which is just below current price is starting to move higher indicating a bullish move. The market should possibly move towards the 1.25 level from here. …Read More

GBP/USD

The British Pound rallied significantly at the start of the week but got into troubles near the 1.4075 level from where it pulled back a little. The market is looking to test the 1.40 level underneath again and if it holds then it will continue to move higher perhaps towards the 1.43 level. The 1.45 level is going to be difficult for the market to crack and the market could turn sluggish. The 1.40 level offers a significant amount of support from both psychological and structural standpoint. …Read More

AUD/USD

The AUD dropped significantly during the Monday’s session reaching towards the 0.78 level as the day was bit pro-US dollar. The market is experiencing a bit of support around the 0.78 level and a break above 0.7850 level will help the market to bounce towards the 0.79 level and above. The 0.80 level will be a bit difficult to cross as it has been very important level for a long time. Going forward, the market will remain choppy and movement of gold prices and US Dollar will continue to influence this market. …Read More

USD/JPY

The pair has formed a negative outlook during the Monday’s session as it initially gapped higher but turned around to break significantly reaching the 106.35 level. The pair managed to bounce a bit from the lower levels but the 50- hour exponential moving average is going to be a bit resistive. In general, the US Dollar will continue to be soft which keep selling pressure on the counter and also a break below 105 level will be a very negative development. …Read More

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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.