Forex Daily Outlook – November 19, 2018

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Published: Nov 19, 2018, 08:54 UTC

EUR/USD The Euro continued to struggle around the 1.14 region on the Friday's session, with a back and forth momentum. The region above the 1.14 level has

EUR/USD

The Euro continued to struggle around the 1.14 region on the Friday’s session, with a back and forth momentum. The region above the 1.14 level has become significantly resistive and all the negative headlines related to Brexit and Fed raising interest rates will keep the market under pressure. There is still a significant amount of bearish sentiment present around the market and if it breaks through the 1.13 level, then it is likely to reach down to the 1.11 level. …Read More

GBP/USD

The market is witnessing severe bearish pressure after the negative Brekit headlines hit the market. The pair is currently trading around the 1.28 level, and 1.27 level underneath is extremely supportive. If it breaks below this level, then it can reach down to the 1.25 level. In the higher side, the 1.30 level is very resistive and will be difficult for the market to break above. …Read More

AUD/USD

The AUD initially fell lower but got enough support to bounce back trying to reach higher towards the 0.75 level. An area, which is very difficult to break above given the current weak fundamentals. The market is expected to get a pullback, probably retest the 0.70 level underneath, before bouncing higher again. …Read More

USD/JPY

The USD fell initially during the Friday’s session, breaking below the lows of Thursday’s session, but there are multiple supports present underneath and is likely to get a bounce. The 112 level underneath and 200 EMA is providing important support to the market. With Fed continuing to be more hawkish than before the pair is likely to reach towards the 114.50 level, given enough time. …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.