Forex Daily Outlook – December 14, 2018

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Published: Dec 14, 2018, 08:32 UTC

EUR/USD The Euro continued to trade sideways during the Thursday's session, as the market looks confused with the Federal Reserve's stance and some of its

EUR/USD

The Euro continued to trade sideways during the Thursday’s session, as the market looks confused with the Federal Reserve’s stance and some of its comments lately on the interest rate hike. Also, liquidity in the market gets dried up particularly in this time of year which makes the market to trade in a narrow range. The 1.13 level underneath and 1.1450 level above will be the major support and resistance point for the market. …Read More

GBP/USD

The British Pound rallied a bit during yesterday’s session but is likely to experience significant resistance above as both 200 Day EMA line and 1.27 level has turned resistive. Going forward the market will continue to be choppy because despite the confidence victory by Teresa May, the Brexit situation still remains the same. The 1.25 level underneath should offer strong support that extends down to 1.22 level. …Read More

AUD/USD

The AUD tried rallying higher during the yesterday’s session but the 0.7250 level offered a strong resistance. Rallies in the market are getting sold-off immediately which is negative for the pair. The market is largely affected due to the worsening US-China trade relations as a major part of the Australian export goes to China. The market is expected to continue consolidating between the 0.70 and 0.7250 level. …Read More

USD/JPY

The USD rallied slightly higher during the yesterday’s session towards the 114 level, which is a crucial more than once and continues to witness a lot of resistance. Lack of liquidity in the market in this time of the year keeping the pair in a range bound movement. Ultimately, this pair has a strong support at the 112 level underneath and if it breaks below, then it can break down to the 110 level. …Read More

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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.