Forex Daily Outlook – February 12, 2019

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Published: Feb 12, 2019, 09:06 UTC

EUR/USD The Euro had a bearish start of the week, as the pair had broken below the much supportive 1.13 level and has reached towards the 1.1280 level. By

EUR/USD

The Euro had a bearish start of the week, as the pair had broken below the much supportive 1.13 level and has reached towards the 1.1280 level. By doing this, it has broken below one of the major uptrend lines and has also slipped into the negative side of the territory. With a lot of negativity around the European Union and loose monetary policy by ECB, the pair will continue to struggle and remain volatile. …Read More

GBP/USD

The British Pound has pulled back significantly during yesterday’s session reaching down towards the 1.2850 level, slicing through the supportive 50 Day EMA slope. This is a bit negative for the pair as it has been trying to gain enough momentum to break higher. If the pair breaks below the 1.28 level, then the market is likely to roll over further and also the Brexit issues continue to cause a lot of uncertainty around the market. …Read More

AUD/USD

The bearish grip around the AUD continued through the Monday’s session as the pair hovered around the 0.7050 level. With a weakness around major currencies, the AUD is also likely to witness the negative pressure and could reach down to the 0.70 level, which is even more supportive and extends down to the 0.68 level. The pair is expected to bottom out here and will attract buyers. …Read More

USD/JPY

The USD gained enough momentum during yesterday’s session and has managed to break above the much resistive 110 level. The market has been holding on to the gains, and other major currencies are also underperforming against USD, which is supporting the pair higher. If the pair breaks above 200 Day EMA, then it would be extremely positive and would bring back the buyers into the market. …Read More

About the Author

Colin Firstauthor

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