Forex Daily Outlook – December 12, 2018

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Published: Dec 12, 2018, 08:55 UTC

EUR/USD The Euro tried rallying higher during the Tuesday's session but failed to break above. The weakness in the market is due to the issues surrounding

S & P 500 daily chart, September 24, 2018

EUR/USD

The Euro tried rallying higher during the Tuesday’s session but failed to break above. The weakness in the market is due to the issues surrounding the European Union which will continue to attract sellers. In the hourly chart, the market has formed a symmetrical triangle, and if it breaks below the bottom of the uptrend line, then it can move much lower probably towards the 1.11 level. …Read More

GBP/USD

The British Pound continues to face major issue after British PM, Teresa May stepped away from having a vote on the Brexit deal and now it is likely to be hard Brexit. The current momentum suggests that the market will probably drop down to the 1.22 level and 1.27 level above will offer significant resistance. …Read More

AUD/USD

The AUD managed to hold above the 0.72 level in yesterday’s session reaching towards the top of candlestick from the Monday session. The sellers in the market are very much active and any rallies will be immediately sold-off. The 0.7250 level above will be offering maximum resistance, and if it breaks below the 0.72 level, then it can reach down to 0.70 level or much lower. …Read More

USD/JPY

The USD initially fell during yesterday’s session but turned around later in the day showing signs of strength. It looks likely that the market is trying to reach towards the 114 level which is highly resistive. However, the 200 Day EMA line underneath is offering significant support to the market which is placed around 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.