Forex Daily Outlook – March 28, 2019

Colin First

EUR/USD

The Euro continued to get dragged during Wednesday’s session, reaching down to the 1.1250 level where it is getting a bit of support. The market is currently near the bottom of overall consolidation and is likely to attract buyers around. At the current level, the market is likely to offer a nice short term buying opportunity, but if it breaks below the 1.12 level, it would be extremely negative and could reach down to the 1.10 level. …Read More

GBP/USD

The pair initially pulled back during yesterday’s session but found strong support at the 1.3150 level to turn around higher. Its a very bullish development for the market and will continue to attract buyers around. Given the negative headlines around the Brexit, the pair will remain volatile and if it breaks above the 1.3350 level, then its going to reach higher towards the 1.35 level. …Read More

AUD/USD

 

The AUD rolled over during yesterday’s session, breaking below the 0.71 level and also the 50 Day EMA slope. The pair is struggling to gain momentum to break higher and with no definite signs of resolution of US-China trade war, the pair will continue to get sold off on every rally until it breaks above the 0.7250 level. …Read More

USD/JPY

The USD pulled back slightly during yesterday sessions as the 50 Day EMA above offering a bit of resistance to the pair. The market is currently in the middle of the long term consolidation range and the 110 level underneath is likely to attract strong interest in the market. The 111 level above is a strong resistance zone, that extends up to the 112 level and in case of a breakdown below 110 level, then it could reach down to the 108 level. …Read More

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