EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 13, 2018

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Published: Mar 13, 2018, 09:24 UTC

EUR/USD The Euro is struggling against the dollar to break higher since stronger than expected job number data was published. With major US economic data

EUR/USD

The Euro is struggling against the dollar to break higher since stronger than expected job number data was published. With major US economic data coming out in next couple of days the market should trade in a tight range around the 1.23 level. The 1.21 level should continue to be the floor of this market. The longer-term view of this market is very bullish and once it breaks above the 1.25 level, then it should continue towards the 1.32 level. …Read More

GBP/USD

The pair moved slightly higher during the Monday’s session as it broke above the 1.39 level. Now the market is expected to continue towards the 1.40 level which is massively resistive but given the major economic numbers coming out of US in next couple of days, the market will remain choppy. The 1.3650 level is going to be the floor of this market and is unlikely to be broken. …Read More

AUD/USD

The AUD continued its choppy movement against the USD, as it has been facing a lot of issues in the area around the 0.79 and 0.80 level. The 0.78 level should continue to offer strong support and if it breaks below then next support major support will be at 0.77 level and 0.75 level. The key economic data from the US should be looked after as it will chart the next direction of the market. …Read More

USD/JPY

The USD traded on a very choppy note against the JPY in Monday’s session, hanging around the 106.50 level. With key economic data releasing in next couple of sessions, this market should continue to remain noisy. Given enough time, the market should go higher as it has been far too oversold with a target of 107.50 level. …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.