Forex Daily Outlook – March 22, 2019

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Published: Mar 22, 2019, 09:19 UTC

EUR/USD After the show of strength in the Wednesday's session, the pair gave back the gains in Thursday's session, breaking below the 1.14 level once

EUR/USD

After the show of strength in the Wednesday’s session, the pair gave back the gains in Thursday’s session, breaking below the 1.14 level once again. The region above the 1.14 level has been extremely resistive for the pair and given the ECB’s softer stance on interest rate hike as well, the pair will continue to struggle and remain volatile. The 1.1350 level underneath is strong support and likely to attract value. …Read More

GBP/USD

The British Pound pulled down during yesterday’s session as it reached down towards the 1.3150 level again. The pair is experiencing stiff resistance above but continuing to find buyers on dips. The delay in Brexit is a bit positive for the market which will continue to drive value. The 1.30 level underneath is massively supportive and at this point, the market will remain volatile. …Read More

AUD/USD

The AUD pulled lower during yesterday’s session, showing signs of exhaustion after reaching towards the 0.7150 level. With no sight of resolution of US-China trade situations, the pair is likely to remain choppy and will continue to witness selling pressure. Underneath, the 0.7050 level is massively supportive and could attract value into the market. …Read More

USD/JPY

After witnessing strong selling a day ahead, the USD rallied a bit during yesterday’s session but failed to cross above the 111 level. With the Fed holding the rate hike for the rest of the year, the USD is likely to remain weak and the pair will continue to lose value. A break below 110 level would eventually send the market towards 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.