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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 28, 2018

By:
Colin First
Published: Mar 28, 2018, 08:58 UTC

EUR/USD The pair dropped significantly during the Tuesday's session reaching down towards the 1.2350 level and is likely to attract buyers as it was a

EUR/USD daily chart, March 16, 2018

EUR/USD

The pair dropped significantly during the Tuesday’s session reaching down towards the 1.2350 level and is likely to attract buyers as it was a significant resistance level in the past. The market is generally on the upside trend and will look to reach towards the 1.25 level next. Given the rate hike situation from both the central banks, the market will be bullish in the long term reaching 1.32 level. …Read More

GBP/USD

The pair dropped significantly during the Tuesday’s session reaching towards the 1.4050 but got enough support there to move back higher. The market is certainly on an upward trend and pullbacks are the best way to enter this market. In next several sessions, the market will attempt to break towards the 1.4250 level and then perhaps towards the 1.43 level. The 1.40 level underneath is a strong support area and is unlikely to be broken. …Read More

AUD/USD

The AUD was choppy during the Tuesday’s session reaching down towards the 0.77 level. This level continues to be significantly important and is likely to attract buyers to take this market higher. The breakout above 0.7750 level will help this pair to go above the 0.78 and 0.79 level subsequently. In an alternate scenario, if it breaks 0.77 level below then 0.76 level will be its next support. …Read More

USD/JPY

The pair rallied a bit during the Tuesday’s session as it got a significant amount of bullish pressure. But the given the market condition, the bear will eventually grip the market and will continue to move lower. Going forward, the market will continue to take a cue from the stock market for its future direction. The 105 level continues to offer strong support and will also attract sellers into the market. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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