Forex Daily Outlook – July 26, 2018

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Published: Jul 26, 2018, 08:02 UTC

EUR/USD The pair remained choppy throughout the Wednesday's trade session, hovering around the 1.17 level as it was looking for directions. The pair in

EUR/USD

The pair remained choppy throughout the Wednesday’s trade session, hovering around the 1.17 level as it was looking for directions. The pair in the short term is likely to move higher and with US President Trump and EU officials agreeing to work toward a zero tariff deal will also support the market to go higher. A break above the 1.1750 level will eventually help the market to go towards the 1.1850 level. …Read More

GBP/USD

The British Pound moved higher during the yesterday’s trading session as it looks forward to the 1.32 level which is offering a bit of resistance. The short-term pullback will continue to offer a nice buying opportunity and a break above 1.32 level will be extremely positive for the market. The 1.31 and 1.30 level underneath will continue to act as a floor of this market. …Read More

AUD/USD

The AUD continued to struggle around the 0.7450 level above in the yesterday’s session as it is facing strong resistance to breaking above. The market continues to attract buyers at the lower levels and eventually will breakout and once it clears above the 0.75 level, it will open the doors towards the 0.78 level. On the lower side, the 0.7350 level will continue to offer strong support to the market. …Read More

USD/JPY

The USD drifted a bit lower during the yesterday’s session but the uptrend line just below offering a bit of support to the market. Given enough time, the market will continue to go higher towards the 112 level and 113 level eventually. A break below this uptrend line will probably send the market towards the 110 level underneath. …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.