Forex Daily Outlook – September 19, 2018

Colin First
EUR/USD daily chart, September 10, 2018

EUR/USD

The Euro rallied initially during the Tuesday’s session but as soon as China announced retaliatory tariffs, the market turned extremely volatile. The market will continue to struggle around this area and could witness some amount of selling pressure. In order to continue with the bullish sentiment, it needs to break above the 1.1725 level, which will send this pair to the 1.1750 level and then to the 1.18 level. …Read More

GBP/USD

The British Pound initially rallied higher during the yesterday’s session, pushing the price towards the 1.32 level, but due to increasing US-China trade dispute, the market turned choppy and pulled down a bit. The pair is successfully holding above the 1.3125 level and given enough time, it likely that buyers send this market much higher. …Read More

AUD/USD

The AUD continued to trade volatile as due to the increasing trade dispute between the US-China which is having a negative effect on the pair. The pair is likely to continue extremely noisy and erratic. The 0.72 level above will continue to be extremely resistive and short-term rallies in the market will be sold-off. The market lacks a clear long-term picture which makes it a difficult for the traders. …Read More

USD/JPY

The pair initially rallied higher during the yesterday’s session, but then pulled back a bit a lower only to move higher again. This is a positive formation and is going to break out of the massive symmetrical triangle formation which has been there for quite some time now. Because of this, the pair is likely to go much higher level but at the same time, it will continue to be noisy. The 111 level underneath will continue to offer strong support. …Read More

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