Forex Daily Outlook – January 15, 2019

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Published: Jan 15, 2019, 07:27 UTC

EUR/USD The Euro continued to trade sideways in the Monday's session, hovering around the 1.1450 level as the 1.15 level above has turned massively

EUR/USD

The Euro continued to trade sideways in the Monday’s session, hovering around the 1.1450 level as the 1.15 level above has turned massively resistive. Also, the 200 Day EMA is sliding downwards, which is putting further pressure on the market. The market will continue to remain choppy as the market seems to have lost direction. The 1.14 level underneath should offer support and it extends down to the 1.13 level. …Read More

GBP/USD

The British Pound continued to chop around in the Monday’s session, reacting to the ongoing Brexit headlines, which will continue to cause a lot of issues. The pair is currently trading above the 1.29 level and is trying to break above the massively resistive 1.30 level. The market is expected to remain noisy and the downtrend momentum shall continue. …Read More

AUD/USD

The AUD rallied higher a bit during yesterday’s session but is struggling to break above the 0.7250 level and also the 200 Day EMA above is providing significant resistance. The selling pressure is likely to continue in the market and if it breaks below the 0.72 level, then it will reach down to the 0.70 level. Rallies will continue to be a nice selling opportunity in this market. …Read More

USD/JPY

The USD has pulled back slightly during the Monday’s session, but the 108 level underneath is offering a bit of support. Overall, the momentum of the market is still bearish and is likely to witness a lot of selling pressure above the 108 level. The 105 level underneath is a bit supportive and if it breaks below, then it can reach down towards the 100 level. …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.