Forex Daily Outlook – March 15, 2019

Colin First
Paper money euro dollar banknotes

EUR/USD

The Euro rolled over during Thursday’s session, soon after reaching towards the 50 Day EMA slope, as it offered plenty of resistance. Given ECB’s loose attitude towards monetary policy and slow down in growth, the pair is expected to find extreme difficulty breaking above. There is a lot of resistance upside built near the 1.14 and 1.15 level with strong support placed near the 1.12 level. …Read More

GBP/USD

The British Pound slightly pulled back during yesterday’s session, as the 1.3250 level above offered a bit of resistance. There is a lot of noise in the market due to the Brexit headlines, and the market is going to struggle at higher levels. If the market successfully breaks above the 1.33 level, then the market is likely to gain upside momentum to reach towards the 1.35 level. …Read More

AUD/USD

The AUD initially pulled back slightly during yesterday’s session but later on gained enough momentum to reach higher towards the 0.7080 level. The market is likely to continue trading in a very tight range below the 0.71 level and will be very difficult to break above. Short term dips should offer value to the market and a break above 0.7250 level could turn the trend around to the upside. …Read More

USD/JPY

The pair gained a bit of momentum during yesterday’s session as it broke above the 111.50 level, that was offering a bit of resistance. The resistance in the market extends up to the 112 level, and the pair needs to gain significant momentum breaking higher. Underneath, if it breaks below the 200 Day EMA slope and 111 handle, then the market could possibly unwind down to the 110 level and much lower. …Read More

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