Forex Daily Outlook – August 20, 2018

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Published: Aug 20, 2018, 10:44 UTC

EUR/USD The Euro was very noisy during the Friday's session as the pair tried breaking above the 1.14 level but experienced some amount of resistance. The

EUR/USD

The Euro was very noisy during the Friday’s session as the pair tried breaking above the 1.14 level but experienced some amount of resistance. The pair is witnessing strength in momentum as the weakness and fear in the market due to Turkey’s situation subside. In the short term, the market will continue to trade volatile and if it breaks above 1.1425 level, then more buyers will enter the market. …Read More

GBP/USD

The British Pound was slightly positive and had a quiet trading during the Friday’s session. The 1.2750 level is offering strong resistance to the pair and also the Brexit issue is keeping the market under pressure. The 1.25 level underneath is a strong support and in case of any negative development, the pair will directly reach towards the 1.25 level. …Read More

AUD/USD

The AUD was positive through the Friday’s session trying to break above the 0.73 level but is facing resistance. If it breaks above this key level, then it will be a positive development for the market and will again start to rally towards the 0.75 level. If it breaks further below from here, then it will be negative and will further slide towards the 0.70 level. …Read More

USD/JPY

The pair continues to trade weak and in the Friday’s session, it broke below an important uptrend line to reach towards the 110 level. This pair is an exception in the forex world, as USD is gaining strength against most of the currencies but here against JPY, it is underperforming. The support for the market goes down below to the 109 level but given enough time, this pair will resume its upside momentum towards the 112 level. …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.