Forex Daily Outlook – June 29, 2018

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Published: Jun 29, 2018, 07:22 UTC

EUR/USD The pair initially dropped towards the 1.15 level which is one of its important support levels in the longer term chart, and from there it got

EUR/USD

The pair initially dropped towards the 1.15 level which is one of its important support levels in the longer term chart, and from there it got enough buying pressure to bounce higher towards the 1.16 level. The market is expected to continue volatile due to the unstable political situation in Europe and trade wars. A break above 1.16 and 1.1650 level will be considered extremely bullish and will take the market towards 1.17 level. …Read More

GBP/USD

The weakness gripped the market in the Wednesday’s session as it broke down towards the 1.32 level, an area which is supportive in the long-term chart. The market in the next few sessions is likely to continue trading weak and may reach towards the 1.30 level underneath. The market is overall impacted by the trade war situation and for the market to turn around, it needs to break above the 1.3250 level. …Read More

AUD/USD

The AUD continued to hang around the 0.7350 level during the Thursday’s session as the area will massively supportive in the long-term chart. If it breaks below this level, then it is likely to unwind rapidly towards the 0.72 level or probably 0.70 level. The market continues to face stiff resistance on the top especially around the 0.7450 level. …Read More

USD/JPY

The market continued to trade volatile in a back and forth movement in the yesterday’s session as the market reacts to the headlines relating to the trade wars and geopolitical situation affecting risk appetite in general. The pair is very sensitive to the global risk and will continue to observe noise. The market is expected to be range-bound between 109.50-110.75 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.