Yahoo Finance Forex Daily Outlook – December 12, 2018
EUR/USD
The Euro tried rallying higher during the Tuesday’s session but failed to break above. The weakness in the market is due to the issues surrounding the European Union which will continue to attract sellers. In the hourly chart, the market has formed a symmetrical triangle, and if it breaks below the bottom of the uptrend line, then it can move much lower probably towards the 1.11 level. …Read More
GBP/USD
The British Pound continues to face major issue after British PM, Teresa May stepped away from having a vote on the Brexit deal and now it is likely to be hard Brexit. The current momentum suggests that the market will probably drop down to the 1.22 level and 1.27 level above will offer significant resistance. …Read More
AUD/USD
The AUD managed to hold above the 0.72 level in yesterday’s session reaching towards the top of candlestick from the Monday session. The sellers in the market are very much active and any rallies will be immediately sold-off. The 0.7250 level above will be offering maximum resistance, and if it breaks below the 0.72 level, then it can reach down to 0.70 level or much lower. …Read More
USD/JPY
The USD initially fell during yesterday’s session but turned around later in the day showing signs of strength. It looks likely that the market is trying to reach towards the 114 level which is highly resistive. However, the 200 Day EMA line underneath is offering significant support to the market which is placed around the 112 level. …Read More
This article was originally posted on FX Empire
