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Forex Daily Outlook – September 14, 2018

Colin First
Forex Daily Outlook – November 1, 2018

EUR/USD

The pair exploded higher during the Thursday’s session sending the pair above the 1.1650 level after it was reported that CPI numbers missed the estimate in America. There was also a statement from ECB chair, Mario Draghi that stimulus is still needed in EU which is a dovish statement but the market is focusing on CPI numbers which had led to strong selling in the USD. The 1.17 level above is likely to be a strong resistance point and if it breaks above then it will be extremely positive for the market. …Read More

GBP/USD

The British Pound rallied significantly breaking above the 1.31 level after the release of CPI data in the US. The pair in the last few session has been continuing to gain strength and is likely to move further higher. The 1.3125 level is expected to offer a bit of resistance based on the down trendline and 1.30 level underneath will offer the required support to the market. …Read More

AUD/USD

The AUD finally broke above the 0.7150 level in the yesterday’s session but run into a quite of bit of resistance around the 0.72 level as expected. The push in the market was due to lower CPI numbers in the US and because of this, it is expected that there will be a short-term rally in the market. A break above 0.72 level will send the pair higher towards the 0.7250 level. …Read More

USD/JPY

The USD rallied during the yesterday’s session against the JPY despite CPI numbers missing the estimate. The 111.50 level is going to offer a significant resistance to the pair and will also be a difficult one to break above. Going ahead, the market is expected to remain volatile with 111.10 level underneath will provide the required support that extends up to 111 level. …Read More

This article was originally posted on FX Empire

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