EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 15, 2018

Colin First
Forex News
Forex News

EUR/USD

The Euro started the week with bullish sentiment as it continued to rally reaching towards the 1.20 level. The market will continue to try breaking above the 1.20 level which is a psychologically significant level and is likely to reach towards the 1.21 level. Pullbacks in this condition will continue to offer a good buying opportunity with 1.19 level underneath offering strong support. …Read More

GBP/USD

The British Pound rallied during the yesterday’s session reaching the 1.36 level which is offering a bit of resistance. If it breaks above then the next major resistance will be at 1.3650 level and will need significant momentum to break higher as this area has been important more than once. The 1.35 level underneath will be the strong support line and will continue to attract buyers. …Read More

AUD/USD

The AUD has been choppy throughout the yesterday’s session as the market lacking significant positive momentum. The 0.75 level underneath continues to offer strong support and the market is unlikely to break further and will attract a lot of buyers interest. In the higher side, 0.77 level and 0.7750 level will be the major resistance point for the market. …Read More

USD/JPY

The pair initially rallied towards the 109.50 level in the yesterday’s session but is facing significant resistance around. The market is likely to witness some short-term selling pressure and if this market succeeds to break above the 110 level then it could send much higher perhaps towards the 112.50 level in the short to medium term. …Read More

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