Forex Daily Outlook – June 13, 2018

Colin First
EUR/USD daily chart, June 07, 2018
Money

EUR/USD

The pair rallied a bit during the yesterday’s session but traded in a range bound manner. The market is struggling to go past the 1.18 level which is acting as a strong resistance. Also, the market is looking forward to the outcome of ECB meeting on Thursday, that could determine the future of QE. EU walking away from the QE will definitely push this market higher towards the 1.20 level. …Read More

GBP/USD

The British Pound rallied a bit during the Tuesday’s session but got enough resistance around the 1.3425 level and fall significantly wiping out the entire up-move. The market has plenty of support underneath and will continue to attract buyers as in the weekly chart it has formed a hammer like a candle. A break below 1.33 level will be negative and could reach towards the 1.32 level. …Read More

AUD/USD

The AUD initially dropped lower during the yesterday’s session slicing through the 0.76 level but bounced back later during the session. The market will continue to remain volatile and trade with a positive proclivity, eventually breaking above the 0.77 level in the short term. The 0.75 level underneath will continue to offer strong support to the market and is acting as a floor of this market. …Read More

USD/JPY

The USD continued to remain volatile against the JPY in yesterday’s session as the market witnessesa lot of issue around the 110 level. A break above 110.50 level will eventually help the market to break higher and reverse some of the bearish sentiment. The market is well supported at the 109 level and is not likely to break very easily. …Read More

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