Forex Daily Outlook – February 13, 2019

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Published: Feb 13, 2019, 10:08 UTC

EUR/USD The Euro fell initially during Thursday's session but found enough support underneath, to bounce higher and break above the 1.13 level. The market

EUR/USD

The Euro fell initially during Thursday’s session but found enough support underneath, to bounce higher and break above the 1.13 level. The market is witnessing a lot of attention around the 1.13 level and at this point, it is likely that the pair will continue trying to reach towards the top of the overall consolidation area which is as high as 1.15 level. If the pair turns around, then it could unwind towards the 1.12 level. …Read More

GBP/USD

The pair was initially weak during yesterday’s session but gained enough momentum to move significantly higher breaking above 1.29 level. The market is expected to trade in a back and forth momentum and the 1.30 level above is extremely resistive. However, if the pair breaks below the 1.28 level, then it would be negative and it would cause the market to unwind to 1.25 level. …Read More

AUD/USD

The AUD rallied a bit during yesterday’s session, reaching above the 0.71 level. By doing this, the pair is trying to reach towards the top of the consolidation area which is at 0.7250 level. Selling will likely to continue in this pair and if it breaks below the 0.70 level, then it could go well down to the 0.68 level. …Read More

USD/JPY

The USD continued to hold on to the gains and is witnessing enough bullish pressure to continue moving higher. However, this market is entirely data-driven and sensitive to the global macros, which would keep this pair volatile and noisy. The resistance in the pair extends up to the 111.50 level and could witness a lot of selling pressure around. If the pair breaks below the 110 level, then it could again touch the 108 level. …Read More

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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.