EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 20, 2018

By:

Published: Mar 20, 2018, 08:39 UTC

EUR/USD The pair shot higher slamming the 1.2325 level during the Monday's session, the area which has been a bit noisy and supportive in the past.

USD/JPY Possibly Up to 107.20 if 106.60 Breaks

EUR/USD

The pair shot higher slamming the 1.2325 level during the Monday’s session, the area which has been a bit noisy and supportive in the past. Because of this, it will experience difficulty in crossing above and once it clears above then it should move higher reaching the 1.24 and 1.25 level eventually. The market has also some downside risk if the Fed sounds out to be more hawkish in respect to the rate hike in its next meet. …Read More

GBP/USD

The pair exploded higher during the Monday’s trading session reaching well above the 1.40 level and also breaking the resistive downtrend line with maximum momentum. The pair is likely to attract buyers and move higher from here using the 1.40 level as support. The 1.43 level will offer some resistance, but given the current bullish momentum, it will continue to simply grind its way higher. …Read More

AUD/USD

The pair has been sideways through most part of the session hovering just above the 0.77 level. Given the concerns related to trade wars, strong economic figures from the United States and Fed’s meeting this week on 4th interest rate hike this year will keep the market very noisy. The 0.78 level will offer significant resistance and if the pair breaks below the 0.7675 level, then it should go further lower towards the 0.76 and 0.75 level. …Read More

USD/JPY

The USD initially went higher against the JPY during the Monday’s session but got significant resistance at the 106.50 level only to turn around and fall below. The pair is likely to move in a narrow range of 105.50 and 106.50 level and big trigger which will make this market move will come in form Fed’s outlook on the rate hike this year. …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.