Forex Daily Outlook – February 27, 2019

Colin First
Paper money euro dollar banknotes

EUR/USD

The pair traded in a very narrow range in Tuesday’s session, as it is trying to gain momentum to break above the massively resistive 1.14 level. With both Fed and ECB going soft on monetary policy, the pair is expected to be a bit choppy and will lack the requisite momentum to break higher. The 1.1350 level underneath is expected to attract a lot of attention with support extends down to the 1.1250 level. …Read More

GBP/USD

The British Pound shot higher during yesterday’s session reaching towards the 1.3250 level, that has been important more than once and has turned down earlier from this level. A break above this level will be extremely bullish and could send the pair much higher towards the 1.35 level. Buying dips would continue to be the right strategy to play this market until it breaches the supportive 1.30 level. …Read More

AUD/USD

The AUD went slightly lower during yesterday’s session as the 50 Day EMA slope is offering a bit of resistance. Given the US decision to delay the tariff on Chinese goods, AUD is expected to continue gaining momentum and will move higher. A break above the 200 Day EMA and 0.7250 level would attract a lot of buyers into the market. …Read More

USD/JPY

The USD traded a bit weak in yesterday’s session as it pulled back a bit towards the 110.50 level. The pair is facing strong resistance at the 200 Day EMA slope and until it clears above, it will continue to witness selling pressure. A breach below 110.50 level would send the pair down towards the 110 level and much below. …Read More

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