Forex Daily Outlook – June 8, 2018

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Published: Jun 8, 2018, 10:14 UTC

EUR/USD The Euro rallied higher in the Thursday's session reaching towards the 1.1850 level, which is a significant resistance level in the short term.

EUR/USD

The Euro rallied higher in the Thursday’s session reaching towards the 1.1850 level, which is a significant resistance level in the short term. The pair has pulled back from there towards the 1.18 level later in the day but is also an opportunity to enter this market at the lower level. Overall the market will continue to attract buyers to take it further higher with major support at 1.1750 and 1.15 level underneath. …Read More

GBP/USD

The market fell lower during the yesterday’s session after initially trying to move higher, mainly to the reaction of developments related to Brexit. In the long-run, the pair is expected to not get affected much by the Brexit news. Pullbacks like will continue to offer value in the current market and will continue to rally using the 1.33 level underneath as strong support level. …Read More

AUD/USD

The AUD was mostly sideways in the yesterday’s session hovering around the 0.7650 level. The market is likely to be waiting for the clarity on the current momentum, before moving further higher and also gold has been in a more sideways movement struggling around the $1300 level in the past few session. If the pair breaks above the 0.77 level then next major level for the market will be 0.78 level. …Read More

USD/JPY

The USD had a noisy session against the USD in the yesterday’s session dancing around the 110 level. The market in the medium to long term is expected to be positive and will move higher. Once, it clears above the 111 level which is crucial in the short-term period, more buyers are likely to get 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.