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Forex Daily Outlook – September 11, 2018

By:
Colin First
Published: Sep 11, 2018, 17:04 UTC

EUR/USD The Euro gained a bullish momentum during the Monday's session breaking above the 1.16 level, which again is a positive sign for the market. The

Forex Markets

EUR/USD

The Euro gained a bullish momentum during the Monday’s session breaking above the 1.16 level, which again is a positive sign for the market. The pair is likely to continue going higher from here with significant resistance placed at 1.1650 level and then at 1.17 level. Overall the market will continue to be volatile with 1.1550 level underneath continues to be a strong support point, and will probably hold for the time being. …Read More

GBP/USD

The British Pound shot straight up during the Monday session breaking above the 1.30 level as EU official suggested of a Brexit deal is realistic in next 6-8 weeks timeframe. This is a very positive development for GBP and will attract buyers into the market. If the pair breaks above the 1.31 level, then it will be a buy and hold scenario in the market. …Read More

AUD/USD

The AUD had a very flat start to the week, hovering just above the 0.7050 level. The market turned extremely bearish as soon as it broke the 0.7150 support level and is likely to trade in a very narrow range in next few session. The 0.70 level underneath is a strong support point and beyond that, there is support at 0.68 level. The market is closely following the developments of US-China trade relations, which is keeping the market under pressure. …Read More

USD/JPY

The USD initially rallied slightly against the JPY during the yesterday’s session but was mostly quiet as the market looks concerned about the directions of the US-China trade relation. The 111 level continues to be very important and if it breaks above and stays above this zone in the next few sessions, then it can reach towards the 111.50 and 112 level. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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