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Forex Daily Outlook – July 11, 2018

Colin First
S & P 500 daily chart, July 10, 2018

EUR/USD

The Euro fell hard during the Tuesday’s session as less than anticipated economic numbers came out from the European region. The pair got a bit of support around the 1.17 level and bounced a little higher from there. This pullback is likely to offer a nice buying opportunity in the market and once it reclaims the 1.1750 level, then eventually the market will move towards the 1.18 level. …Read More

GBP/USD

The British Pound has been choppy through the yesterday’s session initially falling hard, but then bounced a couple of times from there. The 1.32 level underneath is providing strong support to the market and if it manages to break above the 1.33 level on the top, then the market could go even higher but at this point, it will be difficult for the market to cross above. In the short term, pullbacks will offer value in the market. …Read More

AUD/USD

The AUD initially fell hard during the yesterday’s session but found support around the 0.7430 level to bounce back again. The market is likely to continue to overall upside trend as on the hourly chart, and if breaks above the 0.7450 level and 0.75 level in the short term, it will attract strong buying interest in the market. If in case the market breaks further, then 0.74 level underneath will offer strong support. …Read More

USD/JPY

The pair broke above the important 111 level in the yesterday’s session, moving further higher but pulled back at a point to test the 111 level as support. The break above has been positive for the market and if it manages to stay above this level and has also formed a golden cross on the daily chart, which is a bullish signal for the long-term traders. The market has a significant amount of resistance above and next major target will be at 112.50 level. …Read More

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