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Forex Daily Outlook – December 28, 2018

Colin First
Forex Euro

EUR/USD

The pair continued to witness extreme volatility in the Thursday’s session, as it bounced higher from the 1.1370 region to reach towards the 1.1450 level, which is a bit resistive. The resistance in the pair extends up to the 1.15 level and will take a lot of momentum to break above. The pair is expected to trade range  bound and consolidate between the 1.1250 and 1.15 level in the short to medium term. …Read More

GBP/USD

The British Pound continues to face extreme resistance at the 1.27 level and pulled back slightly. The 50 Day EMA continues to offer strong resistance and is likely to trade with a bearish pressure and could break down to the 1.26 and perhaps 1.25 level. Until the Brexit concludes, the pair will continue to trade extremely volatile and negative. …Read More

AUD/USD

The AUD fell through yesterday’s session reaching down to the 0.70 level but has recovered from there. If it breaks below the 0.70 level, then it would be extremely negative for the market and could break down towards the 0.68 level. The 200 Day EMA continues to be massively resistive and rallies could attract sellers back into the market. …Read More

USD/JPY

The USD has broken down significantly against the JPY in yesterday’s session, reaching down to the 110.50 level, after reaching higher during the previous session. With the slow economic recovery in the US and Fed’s dovish stance on rate hikes next year, the USD will continue to remain weak. If it breaks below the 110 handle, then it can break down towards the 108 level. …Read More

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