Forex Daily Outlook – February 1, 2019

Colin First
EURUSD

EUR/USD

The Euro is struggling to break above the 1.15 level and also the 200 Day EMA is proving to be extremely resistive. In today’s session, the market will take cues from the US job numbers and is expected to flatten the market a bit. Overall, the market will continue to be choppy with strong support at the 1.13 level. A cross over 200 Day EMA would perhaps send the market towards 1.18 level. …Read More

GBP/USD

The British Pound initially rallied during the yesterday’s session but pulled back as it reached towards the 1.3150 level. Currently, the 200 Day EMA is providing strong support to the pair which is a very positive sign and also both 50 and 200 Day EMA is now moving higher, which will support the market go higher. …Read More

AUD/USD

The AUD tried to break above the 200 Day EMA which also coincides with the important 0.7250 level but failed and is currently hovering just below the 0.7250 level. The gold prices have recently broken above the important $1300 level, which will support the AUD higher and underneath, the 0.7150 is a strong support level. …Read More

USD/JPY

The USD pulled back a bit in Thursday’s session as the softer stance of Federal Reserve continuing to bother the market. If the pair breaks below the 108 level, then it would be negative and could break down further to the 105 level. In the near term, the pair is unlikely to change the momentum and will continue to remain choppy. …Read More

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