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Forex Daily Outlook – January 24, 2019
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EUR/USD The Euro continues to hang around the 1.1350 level as it is witnessing a strong resistance starting from the 1.1380 to 1.14 level. The market will
EUR/USD
The Euro continues to hang around the 1.1350 level as it is witnessing a strong resistance starting from the 1.1380 to 1.14 level. The market will eventually break above but it will take a longer time to gain necessary momentum. The 50 Day EMA should offer a bit of resistance and a break above would send the market higher. …Read More
GBP/USD
The British Pound has broken above the psychological 1.30 level in the Wednesday’s session as news reports Labour Party in the UK is willing to get accept a delay in the Brexit. This could provide a much-needed boost to the market and will continue to enjoy bullish momentum. If the pair stays above the 200 Day EMA, then it can easily reach towards the 1.33 level. …Read More
AUD/USD
The AUD initially tried to rally during the yesterday’s session but due to lack of momentum, the pair pulled back and has broken below the 50 Day EMA. The 0.70 level underneath continues to offer strong support to the pair and break below would be extremely negative. Until the pair breaks above the 200 Day EMA and 0.7250 level above, selling pressure would continue. …Read More
USD/JPY
The USD is continuing to hold above the 109 level, and is witnessing a bit of buying around the level. The 110 level above continues to extremely resistive and once it breaks above, then it can easily reach towards the 112 level. If the market breaks below the 109 level, then it could easily reach 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.
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