Forex Daily Outlook – September 10, 2018

By:

Updated: Sep 10, 2018, 06:57 UTC

EUR/USD The Euro fell apart during the Friday's session slicing through the 1.16 level after the job numbers came out stronger than expected. The market

EUR/USD

The Euro fell apart during the Friday’s session slicing through the 1.16 level after the job numbers came out stronger than expected. The market is likely to trade with a weak momentum in the next few sessions, as dollar gains strength on the back of positive factors. Right now, the 1.15 level underneath is a strong support zone for the pair and given enough time, the market will reverse its direction to move further higher. …Read More

GBP/USD

The British Pound initially spiked higher during the Friday’s session, breaking above the 1.30 level, but due to stronger job numbers from the US, it gave back the gains. With GBP trying to break higher, the market is likely to be volatile in the next few sessions and will try to rally again. The 1.30 level has a psychological impact on the market, and a break above this level will be a buy and hold situation in the market. …Read More

AUD/USD

The crucial 0.7150 level was broken in the Friday’s session as USD continued to gain on the back of strong job growth. With this, the market is likely to grind further lower as it has broken the important support level. In the longer term chart, the 0.70 level is the next major support level, and if it breaks down from there, then it is likely to reach the 0.68 level. Overall, the weak momentum is likely to continue and will be sell on rallies market. …Read More

USD/JPY

The USD rallied higher significantly during the Friday’s session after stronger than anticipated job numbers were reported. The pair in the next few sessions is likely to continue moving higher with strong resistance placed around the 111.50 level and 110.50 level underneath is likely to be a strong support region. …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.