Forex Daily Outlook – October 2, 2018

Colin First
S & P 500 daily chart, September 24, 2018


The pair traded less volatile during the Monday’s session after several days of weakness in which it broke multiple support levels. The region around the 1.1550 level is offering a bit of support to the market and is likely to attract a lot of buyers to pick the market higher. Still, the market has not fully recovered from the bearish sentiment and is likely to test the 1.15 level, which has been massive support in this consolidation area for months now before bouncing higher. …Read More


The British Pound traded volatile during the yesterday’s session as news crossed the wire that British are willing to compromise on an issue related to Irish border. This led to some volatile trading but also experienced support around the 1.30 level. It’s a region where buyers are more likely to take a grip of the market due to attractive levels, but if it breaks from here, then it will be a very negative development for the market. …Read More


The AUD continued its sideways momentum during the Monday’s session as it is getting enough support around the 0.72 level. The market is likely to continue sideways due to the lack of bullish sentiment. If the pair breaks further from here, then the next major support is at 0.7150 level and then at 0.70 level. …Read More


The USD continued its bullish streak as it reached towards the 114 level in the yesterday’s session, but also showing signs of exhaustion as the market has been extremely bullish as of late. The dips in the market will offer a nice buying opportunity and there is a strong support at the 113.50 level which extends down to the 113 level. If the pair get successful in breaking above the psychologically important ¥114.50 level, then it will open the doors to more higher levels. …Read More

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