Forex Daily Outlook – July 25, 2018

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Published: Jul 25, 2018, 09:54 UTC

EUR/USD The pair initially drifted lower during the Tuesday's session dipping as low as 1.1650 level but then shot higher reaching towards the 1.1725

EUR/USD

The pair initially drifted lower during the Tuesday’s session dipping as low as 1.1650 level but then shot higher reaching towards the 1.1725 level. The rally was impressive but it is likely to be short-lived and the market will start falling again. Going ahead, the market continues to be extremely noisy as the market deals with too many headlines and will trade in a range between 1.16 and 1.1750 level. …Read More

GBP/USD

The pair rallied significantly in the yesterday’s session after initially dipping lower below the 1.31 level. This indicates the presence of demand underneath and will continue to move higher. The pair is currently testing the resistance at 1.3150 level and a break above will help in market reaching towards the 1.32 level. The 1.31 and 1.30 level underneath continue to be the floor of this market. …Read More

AUD/USD

The AUD shot higher during the yesterday’s session breaking above the 0.74 level as it targets the 0.7450 level. If the market break above this level, then it will be a positive development and will help the market to break much higher towards the 0.75 level. Going ahead, the market is expected to be noisy and trade in a range bound manner. The 0.7325 level underneath will be acting as a floor of this market. …Read More

USD/JPY

The USD was comparatively soft against the JPY in yesterday’s session as it reached towards the 111 level. The market has a significant uptrend line just below which will be providing important support to the market. Given enough time, it is expected that the market will enough buyers to start rallying again towards the 112.50 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.