EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 15, 2018
EUR/USD
The pair was bit choppy during the Wednesday’s session as the 1.24 level continues to be resistive. But in the longer term, the market is likely to rally higher once it breaks above its psychological level of 1.25 level and is also a structural standpoint. The market is very well supported at the 1.23 level and 1.21 level underneath on the short-term and because of that buyers will keep getting attracted towards this market. …Read More
GBP/USD
The pair pulled back slightly during the Wednesday’s session testing the 1.3950 level for support and by doing so, the market is showing a significant amount of resiliency just below and any dips will be a good buying opportunity. Given enough time, this market is likely to break above the 1.40 level in next few session sending this market higher towards the 1.43 level. …Read More
AUD/USD
The AUD has cleared the 0.79 level during the Wednesday’s session which was a significant barrier to this market. Now the pair is likely to move towards its next important level at the 0.80 level which is massively resistive and going forward, buy on dips will be the right strategy to play this market. The gold prices and movement in the dollar index will chart the direction of this market in the long term. …Read More
USD/JPY
The pair traded with a negative proclivity during the Wednesday’s session reaching towards the 106.50 level as the 107.50 level was massively resistive and failed to cross above. Because of this, the pair is likely to trade range bound between 105-107.50 level. The movement of the global stock market will dictate the movement of this pair as it goes along. …Read More
This article was originally posted on FX Empire
