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Forex Daily Outlook – December 26, 2018

By:
Colin First
Published: Dec 26, 2018, 07:49 UTC

EUR/USD The Euro was bit volatile during the Monday's session, breaking down towards the 1.14 level, but also getting support around the region. The

EUR/USD daily chart, December 10, 2018

EUR/USD

The Euro was bit volatile during the Monday’s session, breaking down towards the 1.14 level, but also getting support around the region. The market is still consolidating between the range of 1.13 and 1.15 level, and the market is struggling to break above there. With Federal Reserve softening its stance on rate hikes next year, the pair will perhaps overcome the bearish trend and will continue to move higher in the long term. …Read More

GBP/USD

The British Pound rallied a bit during the Monday’s session, reaching towards the 1.27 level but the 50 Day EMA line is offering a strong resistance. If the pair breaks above the 50 Day EMA line, then it will be a bullish factor for the market to rally further higher towards the 1.30 level, but due to thin liquidity, the market will chop around. Underneath, the 1.25 level will offer strong support to the market. …Read More

AUD/USD

The pair initially rallied during yesterday’s session but got enough resistance above to break lower towards the 0.70 level, which is massively supportive. With soft Chinese economy and Sino-US trade tensions, the pair is likely to continue under pressure, and if it breaks below the 0.70 level, then it can reach down towards the 0.68 and 0.65 level. …Read More

USD/JPY

The USD continued to break lower and has reached down towards the 110 handle in the Monday’s session. The weakness in the market is due to the Fed’s dovish stance on future rate hikes. If the pair breaks below the 110 level, then the next major support will be at 108 level. The 112 level above will continue to be massive resistive and will be difficult for the market to break above. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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