Forex Daily Outlook – June 14, 2018

Colin First
FTSE 100 daily chart, June 08, 2018

EUR/USD

The Euro had a very quiet trading session on Wednesday, hanging around the 1.1750 level as the market is looking for some kind of momentum to push the market higher. The market in due course will remain volatile and will be looking towards Federal Reserve on the issue of further interest rate hike. A break above 1.18 level will be extremely positive for the market and will attract more buyers. …Read More

GBP/USD

The British Pound fell significantly during the yesterday’s session reaching towards the 1.33 level, which was earlier a resistance level as the market was looking for FOMC statement on late Wednesday. The next 24 hrs will be volatile and is likely to get some major reaction. If the market stays above the 1.33 level, then it will continue to rally towards the 1.3450 level. …Read More

AUD/USD

The AUD rallied in the Tuesday’s session reaching towards the 0.76 level using the 0.7575 level underneath as support. With FOMC announcing 25bps rate hike and two more hikes this year taking a total of 4 hikes this year, but throwing hints of rate hike cycle to end sooner than expected has not pleased the traders. In the short term, the market is likely to move higher possibly towards the 0.78 level, and a break above that will send the market towards 0.80 level. …Read More

USD/JPY

The USD initially rallied during the Wednesday’s session reaching towards the 110.75 level, but due to resistance above, it pulled back slightly. The market was also looking towards the FOMC outcomes on rate hike decision yesterday. Now, it had raised interest rate by 25 bps and hinted on two more hikes this year, the market is not pleased with the rate hike cycle to end sooner than expected. The market is likely to trade with negative from here with 110 level acting as a major support. …Read More

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