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Forex Daily Outlook – June 22, 2018

Colin First
Forex Daily Outlook – June 29, 2018

EUR/USD

The pair shot higher during the yesterday’s session after reaching its major support level at 1.15 level. As the market has bounced from this structurally important level, buyers are likely to accumulate Euro from this region. A break above 1.1650 level in the short term will be very bullish for the market and if it breaks below 1.15 level, then the market can break towards the 1.1250 level. …Read More

GBP/USD

The British Pound shot higher during the yesterday’s session breaking above the 1.32 level and then continued towards the 1.3250 level. If it breaks above the 1.33 level, then it will be a very big development and could send the British Pound much higher. The 1.32 level is likely to offer strong support, as the market pulls back and a break could lead to the market going further lower. …Read More

AUD/USD

The AUD had a choppy session breaking as it bounced from the 0.7350 level and in the course, it has formed a double bottom in the hourly chart. The 0.7350 level continues to be structurally important level and if the pair breaks above the 0.7450 level, then the market could reverse some of the bearish sentiment. The pair is highly correlated to gold prices which will also give a hint of the future momentum. …Read More

USD/JPY

The USD pulled back significantly against the JPY in the yesterday’s session but managed to hold above the 110 level which is slightly positive. The pair is very sensitive to the global risk which is now at peak and will keep the market volatile. The 109.50 level underneath will continue to offer strong support and if it breaks above the 111 level then it could reach towards the 112.50 level. …Read More

 

This article was originally posted on FX Empire

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