Forex Daily Outlook – August 28, 2018
EUR/USD
The Euro continued its bullish momentum during the Monday’s session reaching towards the 1.1650 level. It seems the market is going to make higher highs which is a very bullish indication for the market and will take it towards the top of previous consolidation around the 1.18 level. In the short term, pullbacks in the market will continue to offer value with a major support at 1.15 level. …Read More
GBP/USD
The pair shot higher during the yesterday’s session breaking above the 1.2850 level, reaching towards the 1.29 level. This level is offering a bit of resistance and if the market breaks above, then it can go as high as 1.30 level. With Brexit headlines are relatively quieter and there is a general “risk on” attitude around the world, which will continue to help the pair moving higher. Short term dips in the market will continue to offer value. …Read More
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AUD/USD
The AUD initially pulled back slightly during the yesterday’s session but then turned around to show signs of strength to reach towards the vital 0.7350 level. If the market breaks above that level, then it will be a very bullish sign and will open the doors towards the 0.75 level. But then this market will be a bit difficult to trade due to the volatility around. …Read More
USD/JPY
With USD losing strength against most of the currencies, the USD/JPY pair yesterday witnessed a general weakness breaking through the 111 level. This level is going to attract a lot of attention in the market due to major support level in the past. As the market losing its bullish momentum, the pair is likely to turn volatile and if it fails to hold above the 110.75 level, then it will go further down to the 110 level. …Read More