Forex Daily Outlook – September 28, 2018

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Published: Sep 28, 2018, 08:06 UTC

EUR/USD The pair fell through the Thursday's session breaking multiple minor support levels. The pair has now breached the crucial support level of 1.1650

EUR/USD

The pair fell through the Thursday’s session breaking multiple minor support levels. The pair has now breached the crucial support level of 1.1650 level and continuing to move lower as the Italian debt crisis started to creep back into the market. Also, it is facing trouble from strength in USD after the Fed’s rate hike. The 1.16 level is likely to offer a strong support and if the bearish momentum continues, it will drive the pair towards the 1.15 level. …Read More

GBP/USD

The British Pound drifted lower during the yesterday’s session reaching down to the 1.31 level, which offered a bit of support. The lack of clarity on the issue of Brexit is hurting the market and also strong USD is keeping the market under pressure. The pair has now breached the support at 1.31 level but given enough time, it is likely to bounce higher to reach towards the 1.3150 level. …Read More

AUD/USD

The AUD continued to trade under the negative influence as it broke down towards the 0.72 level again. The bearish pressure is likely to continue in the market for some amount of time as strength in USD and Sino-US trade relation takes a beating. The 0.7150 level underneath is the next important support level and if it breaks further, then it will probably reach down towards the 0.70 level. …Read More

USD/JPY

The USD bounced higher during the Thursday’s session using the support at 112.50 level to break above the 113 level. By doing this, the pair is likely to continue moving higher perhaps towards the 114.50 level. The USD will continue to stay strong after the favourable outcome from FOMC meeting. This pair will get benefitted from the widening interest rate differential between the two economies and short-term pullbacks will offer a nice buying opportunity. …Read More

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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.