Forex Daily Outlook – March 27, 2019

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Published: Mar 27, 2019, 07:53 UTC

EUR/USD The pair is now trading below the 1.1260 level, showing extreme signs of weakness and likely to test the support at the 1.12 level. Right now, the

EUR/USD

The pair is now trading below the 1.1260 level, showing extreme signs of weakness and likely to test the support at the 1.12 level. Right now, the only concern for the market is how the new ECB chief will sound on monetary policies, which will help the market to chart future movement. Also, the US 10-yr T-bill yields edged up from its low on Monday, which helped the USD to move higher. Given the momentum, the pair is likely to trade within its long term consolidation range of 1.12 and 1.15 level. …Read More

GBP/USD

The British Pound continues to be extremely noisy as the market is getting a lot of Brexit headlines. The pair will continue to gain value as there is strong support underneath, running down to the 1.30 level. The 1.333 level above is extremely resistive and break above could clear the door towards the 1.35 level and above. …Read More

AUD/USD

The AUD rose slightly higher during yesterday’s session, breaking above the 50 Day EMA, which is a bit positive development. The pair is expected to continue gaining value and could reach higher, but the 0.7250 level above should offer significant resistance. The 0.70 level underneath should offer strong support and will continue to attract buyers. …Read More

USD/JPY

The USD rallied higher during yesterday’s session against JPY, breaking above the 110 level. The market continues to see a lot of volatility, especially due to the decline in yields of 10-yr US bonds. The 111 level above should offer maximum resistance as its a large, round, psychologically significant figure. The 110 level underneath should offer support to the market, but breakdown could result in market reaching towards 108 level. …Read More

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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.