Forex Daily Outlook – August 14, 2018

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Published: Aug 14, 2018, 09:33 UTC

EUR/USD The pair continued to suffer in the Monday's session initially lower at the open but reversed some of its momenta during the American session. The

EUR/USD

The pair continued to suffer in the Monday’s session initially lower at the open but reversed some of its momenta during the American session. The Euro had lost a significant part of its value in the last two trading sessions due to fears of contagion on European Banks from the economic crisis in Turkey. The 1.14 level will be a strong resistance point and at this point, it will be difficult for the market to cross above. …Read More

GBP/USD

The negative sentiment prevailed in the market throughout the Monday’s session as the market is very concerned about the entire Turkey situation. Also, traders are a lot worried about the Brexit thing which is keeping this pair under pressure. The market is holding the 1.2750 level as support and could bounce from here. Eventually, the pair needs to clear above the 1.2850 level in order to loosen the seller’s grip. …Read More

AUD/USD

The AUD was extremely noisy during the yesterday’s session as the market looks very concerned about the Turkish economic crisis. The 0.73 level is providing enough support to the market and until it clears above the 0.7325 level, the market will continue to remain sluggish and trade with negative proclivity. If it breaks below the 0.7250 level, then the market will roll over towards the 0.70 level. …Read More

USD/JPY

The USD initially gapped lower during the yesterday’s session reaching down to the 110 level, but the situation calmed down a bit which allowed the pair to bounce higher towards the 111 level. The market is going to be extremely volatile and will be difficult to continue moving higher. Once, the market breaks above the 112 level, it will allow the market to grind higher in the long term. …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.