Forex Daily Outlook – January 25, 2019

By:

Published: Jan 25, 2019, 10:35 UTC

EUR/USD The Euro slipped during the Thursday's session, reaching down to the 1.13 level after ECB President Mario Draghi's press brief suggesting of a

EUR/USD

The Euro slipped during the Thursday’s session, reaching down to the 1.13 level after ECB President Mario Draghi’s press brief suggesting of a weaker economic output ahead. The 1.13 level is strong support and will continue to attract buyers but if it breaks below, then it will be extremely negative and could reach down to 1.12 level. …Read More

GBP/USD

The British Pound continued its bullish momentum as it has broken above the 1.31 level in the yesterday’s session and the 200 Day EMA which was earlier offering a stiff resistance is now providing strong support. The 1.3250 above is a strong resistance and break above could send the pair towards the 1.35 level. …Read More

AUD/USD

The AUD continues to witness extreme difficulty in moving higher and is getting sold off in every rally. The 0.71 level underneath is offering a bit of support but if it breaks below, then it will reach down to the 0.70 level. As the currency is highly leveraged to the Chinese economy and the trade tensions between the US/China will continue to keep the market lower. …Read More

USD/JPY

The USD initially rallied during the yesterday’s session trying to break above the much resistive 110 level, but failed and has pulled back a little. The market will continue to witness a lot of selling pressure on the top due to the changed fundamentals around the USD and if it breaks below the 108 level, then the market will witness selling and could reach down to the 105 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.