Forex Daily Outlook – March 14, 2019

Colin First

EUR/USD

The pair is witnessing strong buying at the lower levels, which helped it break above the 1.13 level in Wednesday’s session, reversing much of the bearish sentiment. If the pair breaks above the 50 Day EMA, which is currently offering a bit of resistance, then it can reach much higher. However, the market will continue to struggle at the top of the consolidation that extends towards the 1.15 level. …Read More

GBP/USD

The pair shot higher during yesterday’s session, reaching towards the important and psychologically significant 1.3250 level. The market is going to witness extreme volatility in the coming days due to rapid developments around Brexit, which will keep the traders on their toes. If the GBP breaks above the 1.33 level, then it can reach much higher towards 1.35 level and above. …Read More

AUD/USD

The AUD was mostly sideways and it hovered just above the supportive 0.7050 level in yesterday’s session. The pair is highly leveraged to the growth of China’s economy and given the current situation, it is expected to continue to trade in a very narrow range between 0.70 and 0.7250 level. …Read More

USD/JPY

The USD/JPY initially pulled lower during yesterday’s session but turned around to break above the 111.50 level, showing signs of strength. The 112 level above is massively resistive and with Fed’s loose monetary policy, the pair will continue to struggle to break higher. The 200 Day EMA is offering strong support and if it breaks below then it would be extremely negative for the market. …Read More

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