Forex Daily Outlook – December 3, 2018

Colin First

EUR/USD

The pair was bit sluggish during the Friday’s session after it failed to break above the 1.14 level and has broken down to the 1.1350 level. The market is highly volatile and is consolidating between the 1.13 and 1.14 level. The market could experience a lot of noise as Fed Reserve now sounding less hawkish which could have a negative impact on the USD, but the Italian debt crisis will also weigh down the strength of Euro. …Read More

GBP/USD

GBP drifted slightly lower during the Friday’s session as the market continues to extremely noisy amid the growing concerns around the Brexit deal with EU. The 200 Day EMA slope has become massively resistive and if the market breaks below the major support at the 1.27 level, then it could easily reach down to the 1.25 level and 1.22 level eventually. …Read More

AUD/USD

The AUD hold on to the gains in the Friday’s session as it was expecting some positive news from the US-China meeting on Saturday in Argentina. Now, as the meeting had some positive outcome related to the US-China trade dispute it will bring some short-term relief to the pair and could break towards the 0.75 level. If the pair again breaks below the 0.7250 level, then it can reach down to the 0.70 level. …Read More

USD/JPY

The USD rallied a bit during the Friday’s session but is struggling to break above the 114 level for the past few sessions. With some positive outcome from the recently concluded G20 summit in which US-China agreeing to stop trade tariff hike for the next 90 days which will have a positive effect on the dollar. The 200 EMA underneath is providing important support and if it breaks below this line, then it will be extremely negative. …Read More

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