Forex Daily Outlook – September 3, 2018

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Published: Sep 3, 2018, 10:40 UTC

EUR/USD The Euro continued to be volatile during the Friday's session drifting slightly lower towards the 1.16 level as the news on "no deal Brexit"

EUR/USD

The Euro continued to be volatile during the Friday’s session drifting slightly lower towards the 1.16 level as the news on “no deal Brexit” affecting the market. In the long-term, this news will hardly affect the pair and will find enough reasons to move higher towards the 1.18 level. However, if the market breaks down below the 1.16 level then it will be negative and will be looking towards the 1.15 level after that. …Read More

GBP/USD

The British Pound slumped during the Friday’s session as the fear of no deal Brexit crept back into the market. It will probably a short-term reaction and the pair will find enough support underneath around the 1.2850 level and then probably at 1.2750 level. If it again starts to move higher, then it will be looking towards the 1.3040 level. …Read More

AUD/USD

The AUD continued to trade with the bearish momentum in the Friday’s session, reaching down towards the 0.72 level. This region is the strong support region in the market and may attract a lot of buying interests. If it breaks below this level, then it will open the doors towards the 0.70 level and coming out of this zone will be very difficult for the market. Strong resistance for the pair is placed at the 0.7250 and 0.7260 level. …Read More

USD/JPY

The USD pulled back during the Friday’s session as it sliced through the 111 level, reaching down towards the 110.50 level. The pair had plenty of support around the 110.50 level and 110 level and is likely to hold above. In the short-term, the market is expected to remain volatile and will trade in the range bound fashion between the 111 level and 110 level. …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.