Forex Daily Outlook – March 20, 2019

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Published: Mar 20, 2019, 08:21 GMT+00:00

EUR/USD The pair continued to attract enough buyers underneath, as it reached towards the 1.1350 level in Tuesday's session. The market is just in the

EUR/USD

The pair continued to attract enough buyers underneath, as it reached towards the 1.1350 level in Tuesday’s session. The market is just in the middle of long term consolidation area which ranges between 1.12 and 1.15 level and is expected to witness a lot of volatility. The 1.1450 level above is the beginning of significant resistance and if the pair struggles to break above there, then the market could experience sell-off. …Read More

GBP/USD

The British Pound rallied during yesterday’s session as it is trying to break above the resistive 1.33 level, which is a psychologically important level. With Brexit getting delayed, it could offer strength to the market and could favour the upside. A break above 1.3333 and 1.3350 level would be extremely bullish and will send the market towards 1.35 level. Underneath, the 1.32 level will offer strong support to the market. …Read More

AUD/USD

The AUD went back and forth during yesterday’s trading session, hovering around the psychologically important 0.71 level. The 0.7050 level underneath is offering strong support to the market and continues to drive buyers into the market. If the pair breaks the support at 0.7050 level, then it can reach down to the 0.70 level, which is acting as a floor of the market. …Read More

USD/JPY

The USD pulled back a bit during Tuesday’s session but continues to find strong support underneath at the 200 Day EMA. Its likely that the region above the 200 Day EMA will continue to attract buyers and trying breaking above the major resistance level which extends up to the 112 level. In the reverse side, if the market breaks below the 200 Day EMA, then it could reach down towards the 110 level or much lower towards the 108 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.