Forex Daily Outlook – June 15, 2018

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Published: Jun 15, 2018, 08:13 UTC

EUR/USD The Euro fell hard during the yesterday's session wiping out the entire up move after ECB announced that it is not going to change the interest

EUR/USD

The Euro fell hard during the yesterday’s session wiping out the entire up move after ECB announced that it is not going to change the interest rate and cutting the QE by only half, which was the big dampener for the market. It is expected that the pair will break further towards the 1.15 level as the overall sentiment has turned negative. …Read More

GBP/USD

The British Pound initially rallied a bit but fell hard afterwards in the yesterday’s session after the ECB announcement came. The 1.33 level underneath will continue to be supportive but if it breaks that, then the market could break down towards the 1.30 level. The overall sentiment of the market is weak and will continue to trade weak. …Read More

AUD/USD

The AUD fell hard during the yesterday’s session reaching towards its major trend line as the market turned negative due to the knock-on effect of ECB announcement. The 0.75 level underneath will continues to be a strong support level and is unlikely to break further. Given enough time, the market will attract a lot of buyers interest which will help this market to send higher. …Read More

USD/JPY

The USD initially pulled back a bit in the Thursday’s session reaching towards the 110 level, which is a strong and psychologically significant level. The market bounced from there due to the knock-on effect after the ECB announcement. Pullbacks like this will continue to attract buyers and once it crosses above the 111 handle, the market could reach further higher. …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.