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Forex Daily Outlook – December 10, 2018

Colin First
Updated
Forex Daily Outlook – January 16, 2019

EUR/USD

The pair initially found resistance at the 1.14 level in the Friday’s session but after the weak US job numbers were posted later in that day, the pair started showing signs of strength and broke above the 1.14 level. By doing so, the market is now likely to reach towards the 1.15 level and move eventually higher. With the latest job figures, the Fed is likely to be more dovish which will support this pair going higher. …Read More

GBP/USD

The pair continued to struggle around the 1.2750 level as the market is now a lot uncertain about the future of Brexit. The British PM is finding it more difficult to close the deal with EU and because of this, the pair will continue to go soft. The 1.27 level underneath continues to be a major important support level and if it breaks below, then it can reach towards the 1.22 level. …Read More

AUD/USD

The AUD initially fell down to the 0.72 level in the Friday’s session but turned around after the job numbers showing signs of strength. The 0.72 level underneath continues to offer a strong support to the pair and is likely to attract buyers to take the market higher towards the 0.73 level. The market still not settled with the US-China trade truce talks and is likely to continue choppy. …Read More

USD/JPY

The USD dipped lower against the JPY in the Friday’s session as the US job numbers came in very disappointing. The uptrend line underneath and 200 Day EMA slope, both offering a bit of support to market and also attracting buyers. The market is expected to find plenty of buyers underneath and will continue to reach towards the 114.50 level. If it breaks below that line, then this pair can reach down to the 111 level. …Read More

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This article was originally posted on FX Empire

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