EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 6, 2018

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Published: Mar 6, 2018, 09:13 GMT+00:00

EUR/USD The pair has been bit volatile during the Monday's session as traders are looking to the political development in Italy and how it is going to

USD/JPY Possibly Up to 107.20 if 106.60 Breaks

EUR/USD

The pair has been bit volatile during the Monday’s session as traders are looking to the political development in Italy and how it is going to affect the market. The break above the Friday’s high level will send the market towards the 1.25 level and above which is a significant barrier. A break above this level frees the market towards the long-term target of 1.32 level and up. …Read More

GBP/USD

The pair rallied a bit during the Monday’s session reaching towards the 1.3825 level and then corrected a bit. If it manages to cross above it yesterday’s high level then it will continue to move higher with a buy on dips situation. The pair is now above the 50 EMA, which offers a strong psychological support and is expected that 1.40 level will be targeted in next few sessions. …Read More

AUD/USD

The pair rolled over a bit after initially trying to rally during the Monday’s session. The market is facing significant resistance at the 0.78 level and failure to cross above in next few session would lead further correction, possibly towards the 0.75 level underneath. The dollar index and gold prices have a huge influence in this market and also determines its future trend. …Read More

USD/JPY

The pair rallied significantly during the Monday’s session, breaking out to higher levels as Americans cam onboard. This up-move signals bullish sign in the market and the market is trying to form a base underneath around the 105 level. From here, the market now could try to reach towards its next major barrier i.e 107.50 level and above. …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.