Forex Daily Outlook – September 13, 2018

EUR/USD

The Euro continued to remain choppy over the last 24 hours as it bounced around the 1.16 level. Yesterday’s movement was more or less affected by the strength in the USD and also 1.16 level has been a strong attraction point for the buyers. Going forward, the Brexit issue is going to the major headline which is going to affect the pair. In the long term, the pair is expected to trade in a range bound fashion between 1.15 and 1.18 level. …Read More

GBP/USD

The 1.30 level continues to offer strong support to the market as the pair continues to dance around this level. The market sits just below one of the major down trendline, and a break above this point will send this pair further higher, but currently, the market is highly influenced by the Brexit headline. So, it is expected that the market will continue to remain volatile and buy on dips will be the right strategy to play this market in the short term. …Read More

AUD/USD

The AUD rallied higher during the Wednesday’s session but the 0.7150 level is offering a massive resistance to the pair. The market is vastly affected by the US-China trade relations and will continue to be under pressure until the situation stabilizes. Going ahead, the market will continue to be volatile and the 0.70 level underneath is expected to offer strong support to the market. …Read More

USD/JPY

The USD fell against the JPY in the yesterday’s session as the market continues to battle a lot of global macroeconomic concerns. The 111 level should offer a nice support to the market, which extends down to the 110 level. In the short to medium term, the market seems to be trading in a range bound manner between the 110 and 112.50 level but there will be a lot of erratic moves due to noise around the market. …Read More