Forex Daily Outlook – July 4, 2018

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Published: Jul 4, 2018, 10:10 UTC

EUR/USD The market has been choppy throughout the Tuesday's session but also has broken above the 1.1650 level and is able to maintain the gain. In

EUR/USD

The market has been choppy throughout the Tuesday’s session but also has broken above the 1.1650 level and is able to maintain the gain. In today’s session, the liquidity in the market will be an issue as US market will be closed on account of Independence Day there. The market is likely to less volatile today with 1.1650 level providing important support. …Read More

GBP/USD

The British Pound rallied significantly during the yesterday’s session reaching towards the main level at 1.32 level. which is a strong resistance level. The market will continue to experience selling on rallies unless it manages to breaks above multiple resistance levels showing signs of strength or at least 1.33 level. In general, the USD will continue to remain strong in the short term and will keep the market under pressure. …Read More

AUD/USD

The AUD rallied significantly during the yesterday’s session slamming into the 0.74 level which was a massive resistance level. The market continues to be a lot sensitive to the global geopolitical developments and will continue to experience headline risk. Breaking above 0.7425 level enable the market to break above the 0.75 level. The market will continue to be noisy and extremely volatile in the short to medium term. …Read More

USD/JPY

The USD has broken a bit during the Tuesday’s session reaching its previous downtrend line. The market is trying to pull back and 110 level is going to be an important level. The market today will be affected by lack of liquidity as American market will be closed on account of Independence Day. In the short term, if the market breaks above the 111 level, then it will be bullish and can reach 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.