Forex Daily Outlook – August 22, 2018
EUR/USD
The Euro rallied significantly during the Tuesday’s session breaking above the crucial 1.15 level, which is a very positive sign for the market. But, it is to be kept on minds that the Turkish crisis is not completely wanned out and will have an effect on Euro in the medium term. The pair is now trying to rally towards the 1.16 level and will be difficult for the market to break above there. The 1.550 and 1.15 level underneath will offer a bit of support to the market. …Read More
GBP/USD
The British Pound had a very bullish session on Tuesday, breaking above multiple strong resistance levels which is a very positive sign. The pair is now looking to break above the 1.30 level which will be a bit difficult as Brexit issues are still a concern for traders and the pair is likely to test the grounds after the huge rally. The 1.2850 and 1.28 level underneath will offer a strong support to the market. …Read More
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AUD/USD
The AUD has broken above the crucial 0.7350 level in the yesterday’s session and moving further higher. This area has been very resistive for the market in the past and also due to tensions in the global trade scenarios. If the pair successfully breaks above the 0.74 level, then it can go up to 0.75 level without much resistance. …Read More
USD/JPY
The USD bounced significantly from the 110 level during the Tuesday’s session reaching the 110.50 level. This level has been important more than once as it was a strong support level and if it breaks above this level, then it can reach towards 111 level easily. A break down from here will eventually send the pair towards the 109 level. Short term trades will be highly influenced by global macro trends and trade talks. …Read More