Forex Daily Outlook – September 18, 2018

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Published: Sep 18, 2018, 08:52 UTC

EUR/USD The Euro rallied hard during the Monday's session reaching towards the 1.17 level, an area which has been extremely resistive from the past few

EUR/USD

The Euro rallied hard during the Monday’s session reaching towards the 1.17 level, an area which has been extremely resistive from the past few sessions. The market is expected to continue extremely volatile, due to the deteriorating US-China trade relations. It is expected that the pair would continue to move in its long-term consolidation range of 1.15 and 1.18 level. And, a break above the 1.18 level will send the market towards the 1.20 level. …Read More

GBP/USD

The British Pound rallied higher during the yesterday’s session breaking above the 1.3125 level, from the market has pulled back in the earlier session. The pair is expected to continue moving higher given the prevailing bullish sentiment in the pair. Currently, the 1.3150 level is offering a bit of resistance and a break above this level will send the pair towards the 1.32 level. Any sign of Brexit deal will send this pair much higher. …Read More

AUD/USD

The AUD rallied during the yesterday’s session reaching towards the 0.72 level using the support at 0.7150 level. The marker highly influenced by the US-China trade relations, and deterioration can lead to a steep correction. If in the next few sessions, it breaks above the 0.72 level, then the next target will be 0.7250 level and in event of a breakdown below 0.7150 level, then next major support will be at 0.70 level. …Read More

USD/JPY

The USD had gone sideways against the JPY in the Monday’s session as it successfully held around the 112 level, which is key to next phase of the rally. This pair is very sensitive to the global macro developments and given the current situations relating to the US-China trade relations and Brexit issues, it would be difficult for the market to navigate higher. The 112.50 level above will offer strong resistance and 111 level underneath is the floor of this market. Buying on dips will be a right way to handle this market. …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.