Forex Daily Outlook – January 21, 2019

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Published: Jan 21, 2019, 08:00 UTC

EUR/USD The Euro witnessed a lot of volatility around the 1.14 level in the Friday's session, hovering around the level. The 1.14 level is attracting a

EUR/USD

The Euro witnessed a lot of volatility around the 1.14 level in the Friday’s session, hovering around the level. The 1.14 level is attracting a lot of interest and until the pair breaks above the 1.15 level and also the 200 Day EMA, it will continue to trade range bound and will witness selling pressure. If the market breaks below the 1.1350 level, then it could break down towards the 1.12 level. …Read More

GBP/USD

The British Pound rallied during the Friday’s session, reaching the 200 Day EMA level which offered a maximum resistance. It has pulled back since then breaking below the 1.29 level and will continue to drop down due to noise around the market. The 1.2850 level is offering a bit of support and if it breaks down, then it can reach down to the 1.27 level and then to the 1.25 level. …Read More

AUD/USD

The AUD witnessed a massive resistance as it tried to break higher but has pulled back from there. The market will continue to witness a significant selling pressure on every rally and until unless it breaks above the 200 Day EMA. Underneath, the 50 Day EMA is offering a bit of support and going forward, the pair is likely to trade between the two EMAs. …Read More

USD/JPY

The pair rallied during the trading session on Friday, breaking above the top of the neutral candlestick for Thursday. It has been a bit bullish in the market and if the market breaks above the 110 level, then the market could witness a lot of upside pressure. If it fails to break above, then the market will probably break down towards the 108 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.