Forex Daily Outlook – September 12, 2018

Colin First
S & P 500 daily chart, August 15, 2018


The Euro continued to remain volatile as in the Tuesday’s trade session, it sliced through the 1.16 level to reach towards the 1.1580 level. There is a lack of clarity on Brexit issues, whether it will be a deal or no deal scenario. The pair will be extremely volatile during this time period and risky too for traders. The 1.15 level underneath will continue to offer strong support and dips will provide a nice opportunity to enter the market. …Read More


The British Pound had been noisy through the Tuesday’s session due to the Brexit developments but it was successful in holding above the 1.30 level. The 1.31 level above will continue to be massively resistive will see some amount of selling in that area. Once it crosses above that level, then it will be a buy and hold scenario in the market. Going forward, short-term pullbacks will continue to offer a nice buying opportunity. …Read More


The AUD was negative all through the Tuesday’s session, as it broke below the 0.71 level in reaction to the Brexit developments. The pair is lacking significant bullish momentum with gold markets also sold off, and it is likely that it will test the 0.70 level in the next few sessions. Right now it is best to avoid this market, as it is heavily influenced by the uncertain global macro developments. …Read More


The USD continues to hold the support of 111 level, as it witnessed a lot of back and forth movement in the yesterday’s trade session. With headlines relating to the US-China trade relations, Brexit issues crossing the wires, the market will continue to be extremely volatile. If it breaks above the 111.60 level in the next few sessions, then it will easily reach towards the 112 level. …Read More

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