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Forex Daily Outlook – February 22, 2019

Colin First
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EUR/USD

The pair witnessed a bit of selling from the 1.1350 level in Thursday’s session, as it reached down towards the 1.1320 level. The area above is expected to remain noisy and volatile as the resistance extends up to the 1.14 level. Short term pullbacks in the market will continue to attract a lot of attention and also the Federal Reserve’s soft attitude towards rate hike will support the pair going higher. …Read More

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GBP/USD

The British Pound initially rallied a bit during yesterday’s session trying to reach towards the 1.31 level, but later pulled back slightly lower. Overall, the pair will continue to attract buyers and is probably looking towards 1.32 level, an area which is extremely resistive. Buying dips will continue to offer great value and also the market has multiple support underneath, based on the Fibonacci retracement level and the downtrend line. …Read More

AUD/USD

The AUD fell hard during yesterday’s session, reaching down to the 0.7080 level giving away most of the gains it had in the last few sessions. Weak technicals, as well as fundamentals, is likely to keep the pair extremely volatile and will be difficult to break above the crucial 0.7250 level. Going forward, AUD is likely to continue consolidating between the 0.70 and 0.7250 level. …Read More

USD/JPY

The USD was mostly sideways against the JPY in yesterday’s session, as it continued to hang just above the 110.50 level. The pair has been resilient for some time now and a break above 200 Day EMA and 111 level would allow it to move much higher towards the 112.50 level or above. On the other hand, 50 Day EMA is turning higher, which is a bullish sign for the pair. …Read More

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