Forex Daily Outlook – June 12, 2018

Colin First
FTSE 100 daily chart, June 08, 2018

EUR/USD

The Euro rallied slightly during the Monday’s session due to the positive developments coming out from Italy as it is leaning towards staying in the common currency which is a huge boost to the Euro. The market is also looking towards the historic North Korea-US summit, which will make this market dance. In the long term, the market is expected to continue bullish with a target of 1.1850 and 1.20 on the top. …Read More

GBP/USD

British Pound initially tried to rally but got enough resistance at the 1.3450 level to turn around fall significantly. The market has plenty of support underneath and is likely to attract a lot of buyers as it offers value. A positive outcome from the North Korea-US summit will help this market to rally significantly. If the market breaks down below the 1.33 level, then it will be negative and the market will break further towards the 1.32 level. …Read More

AUD/USD

The AUD was sideways throughout the Monday’s session hanging around the 0.76 level and trading in a relatively tight range. On the weekly chart, it has formed hammer like candle indicating of bullish pressure in the counter in the long term. A positive outcome from North-Korea-US summit will help the market to gain some bullish pressure and will gain some higher levels. …Read More

USD/JPY

The USD rallied sightly during the yesterday’s session reaching towards the 110 level which continued to offer significant resistance. Until the market clears above the 110.25 level, the market is expected to witness some sort of bearish pressure. The 109.25 level underneath continues to offer major support. The outcome of the North-Korea-US summit will also have a major impact on the performance of this pair. …Read More

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