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Forex Daily Outlook – December 7, 2018

Colin First
Forex Daily Outlook – December 7, 2018

EUR/USD

The pair failed to rally higher during the Thursday’s session as the 1.1350 level is attracting a lot of attention and also providing support to the market. The market today will remain choppy because of the job figures ahead and if the numbers come out positive, then it could break the market lower towards the 1.13 level and much lower. …Read More

GBP/USD

The pair continued to trade bearish in yesterday’s session as the traders seem clueless about the Brexit deal in which way it is heading. The market is currently getting sold-off on every rally, and if it breaks below the 1.27 level which it is holding for quite some time, then it can further drop towards the 1.25 level and 1.22 level eventually. …Read More

AUD/USD

The pair continued to witness a lot of bearish pressure during yesterday’s session after the arrest of Chinese businesswoman in Canada at the request of US. The market is fearing some kind of reaction from the Chinese which could derail the trade talks. The 0.72 level underneath is massively supportive and if it breaks down below that level, then it can reach towards the 0.70 level or 0.68 level. …Read More

USD/JPY

The USD fell a bit during yesterday’s session as there is a more risk-off attitude in the market after the arrest of prominent Chinese businesswoman in Canada at the request of US. This could negatively affect the US-China trade truce and market seem very concerned about the development. The 200 Day EMA underneath just below should offer support to the market if it moves further lower. …Read More

This article was originally posted on FX Empire

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