Forex Daily Outlook – January 11, 2019

Colin First
EUR/USD daily chart, January 07, 2019

EUR/USD

The EUR/USD pair has pulled back after testing the resistance at the 200 Day EMA during the Thursday’s session, reaching down to 1.15 level. Because of this, the market is expected to continue choppy and could roll down a bit towards the 1.1450 level. With all the Brexit headlines and the Fed’s policy stance, the market will remain volatile and if the market breaks below 1.1450 level, then it would be negative. …Read More

GBP/USD

The British Pound continued to witness extreme volatility around the 50 Day EMA level and the market has also turned very uncertain with all the Brexit headlines. Also, the USD dollar has turned weaker after Jerome Powell’s stance on future rate hikes. If the pair manages to break above the 1.28 level, then it can go up to the 200 Day EMA, but it needs strong momentum to continue higher or else selling will continue in the market. …Read More

AUD/USD

The AUD continued to trade in a sideways momentum, further narrowing its range. The US-China trade talks failed to excite the market and until there is any definitive agreement coming through, the pair will continue to trade with bearish attitude. The 0.7250 level above is massively resistive with strong support at 0.70 level and at 0.68 level. …Read More

USD/JPY

The USD pulled back slightly during the yesterday’s session against JPY, slicing through the 108 level but has also recovered. The pair continues to trade in a back and forth momentum and if it breaks below the lows of the Thursday’s trade, then it can reach down to the 106 level and 100 level eventually. Rallies will continue to be nice selling opportunity in the market. …Read More

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