EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 21, 2018

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Published: Mar 21, 2018, 10:09 UTC

EUR/USD The pair reversed its direction and broke down significantly during the Tuesday's session reaching the 1.2275 level, an area which is a

USD/JPY Possibly Up to 107.20 if 106.60 Breaks

EUR/USD

The pair reversed its direction and broke down significantly during the Tuesday’s session reaching the 1.2275 level, an area which is a significant support level. The pair is likely to bounce from here and might be looking towards to reach the 1.2350 level. But the news from Fed on monetary policy outlook will keep the market choppy. The 1.21 level underneath and the general uptrend line below is massively supportive and is unlikely to be broken. …Read More

GBP/USD

The market was volatile during the Tuesday’s session as it reached the 1.40 level underneath. The market is waiting for the Fed’s outlook on interest rate hike this year, as it will provide direction to the market. A hawkish outlook will see this market to roll over significantly. If Fed moves forward with 3 rate hikes this year, then the market will resume its upward movement towards the 1.43 and 1.45 level. …Read More

AUD/USD

The AUD traded on a choppy note throughout the Tuesday’s session dancing just above its major support level at 0.77 level. If Federal Reserve moves forward with 4 rate hikes this year, then the market will roll over rather significantly towards the 0.75 level. If Fed in any part sounds dovish, then it will continue to move higher towards the 0.78 and 0.79 level. …Read More

USD/JPY

The USD rallied a bit during the yesterday’s session reaching towards the 106.50 level, the area which has been noisy in the past as well. The hawkish outlook from fed will send this market much higher towards the 108 and 110 level. If Fed moves forward with the 3 rate hikes this year, then the pair will probably roll over 105.50 level which is a massive support, extending up to 105 level. …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.