Forex Daily Outlook – April 1, 2019

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Published: Apr 1, 2019, 09:38 UTC

EUR/USD The pair initially fell during Friday's session reaching down towards the 1.12 level but found plenty of buyers underneath to turnaround and show

EUR/USD

The pair initially fell during Friday’s session reaching down towards the 1.12 level but found plenty of buyers underneath to turnaround and show signs of strength. On the longer-term charts, 1.12 level underneath continues to offer strong support. The 50 & 200 Day EMA above is currently offering strong resistance and until it breaks above decisively, the pair would continue to witness selling pressure around that zone. …Read More

GBP/USD

The British Pound reached down towards the 1.30 level on Friday’s session, reacting to the negative Brexit narrative. There are a lot of headlines crossing this market which will essentially keep this market noisy and volatile. The 1.30 level underneath is a strong support point and will continue to attract plenty of buyers. And, if it breaks below the 1.30 level, then it should reach down to the 1.28 level, which is the next major support level. …Read More

AUD/USD

The AUD continues to attract plenty of buyers underneath around the 0.7050 level helping it to turnaround to upside overall. In the longer-term chart, the market has strong support at the 0.70 level and will continue to attract a lot of attention. The 50 Day EMA is offering strong resistance and if it breaks out, then it can easily reach towards the 0.7250 level. …Read More

USD/JPY

The USD rallied a bit during Friday’s session, reaching towards the structurally important 111 level. The pair is currently running along the 50 Day EMA slope which is offering a bit of resistance to the pair. Overall, this market will continue to remain choppy and a clear breakout above 200 Day EMA and 111.50 level, would be considered extremely bullish. Underneath, the 110 level is an important support level and will continue to attract a lot of interest. …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.