Forex Daily Outlook – June 6, 2018

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Published: Jun 6, 2018, 09:06 UTC

EUR/USD After a positive start of the week, Euro fell lower during the Tuesday's session reaching down towards the $16.50 level as it provided support to

EUR/USD

After a positive start of the week, Euro fell lower during the Tuesday’s session reaching down towards the $16.50 level as it provided support to the falling market. The pair is likely to continue volatile in this zone, and a break above 1.1750 level will help this market to get completely out of the bearish hold. Also, the USD is in bit overbought zone and is likely to witness weakness but the 1.15 level underneath should be watched for. …Read More

GBP/USD

The British Pound rallied significantly during the yesterday’s session reaching towards the 1.34 level but pulled back slightly towards the end of the session. The market is likely to move towards the 1.35 level which is a strong psychological resistance level, like 1.33 level underneath for support. If the market clears above the 1.35 level, then the market is likely to reach towards the 1.3650 level next. …Read More

AUD/USD

The AUD pulled back significantly during the yesterday’s session wiping out the small portion of the Monday’s gain. The market has witnessed strong support around the 0.75 level underneath. The market in next few sessions is likely to trade with positive bias and if it breaks above the 0.76 level, then the next major stop for the market will be 0.77 level. …Read More

USD/JPY

The USD pulled back slightly against the JPY in the Tuesday’s session as the 110 level offered a bit of resistance. The market is likely to be choppy, as USD is in bit overbought situation and will see some correction in next few sessions. The 108.50 level underneath will continue to offer strong support in the market. …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.