Forex Daily Outlook – June 27, 2018

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Published: Jun 27, 2018, 08:31 UTC

EUR/USD The pair pulled back during the Tuesday's session reaching towards its important support level at 1.16 level but continued to witness buyer's

EUR/USD

The pair pulled back during the Tuesday’s session reaching towards its important support level at 1.16 level but continued to witness buyer’s interest around the area. The pullback in the market was expected as due to the noise surrounding the trade war tensions. Given enough time, the market will attract enough buyers and pick Euro based upon value and also USD will remain under pressure as a result of trade wars thrown around the world. …Read More

GBP/USD

The pair dropped lower during the yesterday’s session reaching towards the 1.32 level which is one its important support level. The market is likely to remain bullish as long as it stays above the 1.32 level and eventually finds buyers to pick this market higher. Looking ahead, the market will remain noisy and if it breaks below this the 1.32 level, the market could drop down to 1.31 level. On the higher side, the 1.3450 level is expected to be extremely resistive. …Read More

AUD/USD

The AUD drifted slightly lower during the yesterday’s session testing the psychologically important 0.74 level. The market is likely to attract buyers which will eventually help this pair to get above the 0.75 level, acting as a strong resistance level. The hourly chart shows strong bullish reversal signal around the 0.7350 level. A break above 0.75 level will be very bullish and will be an excellent long-term signal. …Read More

USD/JPY

The USD moved back and forth during yesterday’s session against the JPY, as the noise around the trade war intensifies. The 109.33 level underneath looks to be very supportive in the short term and any negative development coming out of trade wars development could break this market significantly. The 110 level on the top continues to offer strong resistance that extends up to 110.50 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.