Forex Daily Outlook – October 25, 2018

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Published: Oct 25, 2018, 09:13 UTC

EUR/USD The sell-off in the EUR/USD pair continued through the Wednesday's session, breaking down to the 1.1350 level, as bears have further strengthened

EUR/USD

The sell-off in the EUR/USD pair continued through the Wednesday’s session, breaking down to the 1.1350 level, as bears have further strengthened their grip. Currently, there is a lot of negativity around the market and short-term rallies will attract sellers back into the market. The 1.1450 level above will be very resistive and needs a significant change in momentum to break above. …Read More

GBP/USD

The British Pound broke down during the yesterday’s session reaching down to the 1.2850 level. The market continues to be extremely volatile in both the directions and until and unless there is some kind of agreement around the Brexit deal, the market will continue to trade in this fashion. The 1.30 level should be very resistive and if the pair breaks below the 1.2850 level, then it could reach the 1.25 level. …Read More

AUD/USD

The AUD initially rallied during the yesterday’s session towards the 0.71 level but rolled back to give out all the gains. The momentum of the pair is extremely bearish and unlikely to change in the short to medium term. The 0.70 level underneath is a strong support zone and if it breaks down, then the next target will be 0.68 level or even lower. …Read More

USD/JPY

The USD has rallied during the yesterday’s session but continues to find strong resistance around the 1.13 level. The pair is highly correlated to the global stock market, so paying attention to the S&P 500 and 10 yrs yield will help to figure out the future price action of the pair. If it breaks down below the 111.50 level, then the whole bullish momentum will wipe out. …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.