Forex Daily Outlook – February 11, 2019

Colin First
EURUSD

EUR/USD

The Euro has fallen initially during Friday’s session but found strong at the 1.1320 level to turn around and show signs of strength. If the pair breaks above the 1.1350 level again, then it will be slightly positive for the market and will attract buyers. Overall in the short to medium term, the market will continue to remain choppy and will trade between the 1.13 and 1.15 level. …Read More

GBP/USD

The British Pound on Friday bounced a little after testing the major downtrend line, which is offering support. Also, the pair is currently consolidating between the 50 Day & 200 Day EMA lines, and break on either side will bring in major moves. The market is expected to continue choppy, and a break above 200 Day EMA would possibly send the pair towards 1.35 level. …Read More

AUD/USD

The AUD finding it difficult to gain momentum and in Friday’s session, the selloff in the pair continued. Both the 50 & 200 Day EMA above are offering strong resistance and also the fundamentals continue to be weak. The 0.70 level underneath should offer strong support to the market and buyers will continue to be attracted around this area. …Read More

USD/JPY

The USD was sideways against the JPY during Friday’s session as the 50 Day EMA slope is offering stiff resistance. Also, the 110 level above will continue to be extremely difficult for the market to break above due to the current weakness in the USD because of the Fed’s recent move. The 108 level underneath is supportive and if it breaks, then it would reach down towards the 105 level. …Read More

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