Forex Daily Outlook – February 14, 2019

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Published: Feb 14, 2019, 08:38 UTC

EUR/USD The pair pulled back significantly during the Wednesday's session, breaching the 1.13 level again to reach down towards the 1.1280 level. The pair

EUR/USD

The pair pulled back significantly during the Wednesday’s session, breaching the 1.13 level again to reach down towards the 1.1280 level. The pair is witnessing a lot of issues above the 1.13 level and until unless it breaks above 1.1350 level, the market will continue to struggle rallying higher. Going ahead, the pair will continue to consolidate, trading between 1.12 and 1.15 level. …Read More

GBP/USD

The pair initially rallied a bit but pulled back as it approached the 1.30 level, reaching down to the previous downtrend line, which offered a bit of support. Volatility in the pair will continue and if it breaks below the 1.27 level, then it will be a bit negative and will reach down to 1.25 level. Alternatively, a break above 1.30 level would send the market towards 1.33 level. …Read More

AUD/USD

The AUD was a bit stable during yesterday’s session, hovering just around the 0.7120 level. The market is in a little consolidation phase and is trying to form a base around, in order to move higher. Looking at the longer term charts, the 0.70 level underneath is massively supportive and is unlikely to be broken. In the long term, a break above 0.7250 level would help the market to move further higher. …Read More

USD/JPY

The USD gained enough momentum against the JPY in yesterday’s session, reaching towards the 200 Day EMA, which also coincides with the 111 level. The pair is expected to experience a bit of resistance here and if it manages to break above the 200 Day EMA, then it would see a rally towards 112.50 level. However, the market will continue to witness a lot of volatility going ahead. …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.