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Colin First
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S & P 500 daily chart, September 24, 2018

EUR/USD

The pair initially fell lower reaching towards the 1.1725 level during the Wednesday’s sessions as the market awaited the outcome of the FOMC meeting. With FOMC now has increased the short-term interest rates by 25 basis points, USD is likely to gain some amount of strength and also FOMC has changed its accommodative stance. Looking ahead to the day, the pair is likely to keep noisy as German inflation data is expected in the European session. …Read More

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GBP/USD

The British Pound initially pulled back lower during the yesterday’s session but got enough support at the 1.3125 level to rally once again. The market continued to be a bit noisy due to the FOMC statement. If the pair breaks below the 1.3125 level, then the next major support level is at 1.30 level. Going ahead, the Brexit headlines will have a significant impact on the pair which will keep the market on its toes. A break above 1.32 level is expected to push the pair further higher towards the 1.35 level. …Read More

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AUD/USD

AUD pulled back significantly during the yesterday’s session ahead of the FOMC meeting. With the Fed increasing the interest rates and deteriorating Sino-US trade relations, AUD is likely to continue under pressure. If the pair breaks below the 0.72 level, then it will easily break down to the 0.70 level or much lower. The long-term outlook of the pair remains negative and is unlikely to get changed anytime soon. …Read More

USD/JPY

The USD rallied against the JPY in the yesterday’s session breaking above the major downtrend line which was offering strong resistance in the past few sessions. With the Fed increasing the short-term interest rates by 25 basis points, the bullish pressure is likely to continue and could target the 114.50 level next. Also, widening interest rate differential between the two economies will be positive for the pair in the long term. …Read More

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