Forex Daily Outlook – December 19, 2018

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Published: Dec 19, 2018, 08:20 UTC

EUR/USD The pair rallied during the Tuesday's session as it reached towards the 1.14 level, which is a massively resistive level. The pair will continue

EUR/USD

The pair rallied during the Tuesday’s session as it reached towards the 1.14 level, which is a massively resistive level. The pair will continue to trade volatile ahead of the outcome of the Fed meeting regarding the rate hike decision. The market is expected to trade range bound between 1.13 and 1.1450 level in the short term. …Read More

GBP/USD

The British Pound rallied a bit during yesterday’s session slamming the 1.27 level, which is a psychologically and structurally important handle. Ultimately this pair will be a lot more volatile and will experience selling on every rally due to the Brexit headlines. If the pair breaks below the 1.25 handle, then it could easily break down to the 1.22 level. …Read More

AUD/USD

The AUD initially rallied during the yesterday’s session but turned around to give back all the gains. The market at this point is likely to remain volatile because of the US-China trade war and the Fed’s expected rate hike this week. If it breaks below the 0.7150 handle, then it would easily break down to the 0.70 level or much lower. …Read More

USD/JPY

The USD has fallen significantly during the yesterday’s session testing the major trendline which is acting as a support line for past few time. Underneath 200 Day EMA and 112 level will also provide important support to the market. Ahead of the Fed meeting outcome, this market is likely to remain volatile and if the rate hike is not done, then the pair could reach down to the 110 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.