Forex Daily Outlook – March 4, 2019

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Published: Mar 4, 2019, 08:16 UTC

EUR/USD The Euro went back and forth during Friday's session, as the pair continues to experience a lot of headwinds above. Looking at the chart, it seems

EUR/USD

The Euro went back and forth during Friday’s session, as the pair continues to experience a lot of headwinds above. Looking at the chart, it seems the pair has formed strong resistance at the 1.14 level and above with market failing to cross above the 200 Day EMA. Going ahead in the short term, the market is likely to continue to consolidate in this narrow range until unless it breaks above the 1.14 level. …Read More

GBP/USD

The Friday’s session in GBP/USD pair witnessed a slight pullback, which was as per expectations as the market has rallied significantly in the past few session. Overall, the bullish sentiment in the market prevails and buying dips will continue to offer value in the market. Given the trend, the next target for the market is 1.35 level with 1.30 level underneath offering strong support. …Read More

AUD/USD

The AUD stabilized in Friday’s session as it hovered just above the 0.7050 level after showing days of weakness. The pair has strong support around this region and all which extends down to the 0.68 level. The weakness in gold prices is also hammering the pair lower and going ahead, it will continue to consolidate between the 0.70 and 0.7250 level. …Read More

USD/JPY

The USD rallied once again against the JPY in Friday’s session, reaching towards the 112 level, showing extreme bullish sentiment. Here, the pair is likely to face few issues as it is in the top of the selloff that it had seen before the crash earlier. Buying dips will continue to be the right strategy to play this market and if it breaks above the 112 level, then more buyers will enter the market. …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.