Forex Daily Outlook – December 18, 2018
EUR/USD
The EUR/USD pair rallied a bit to kick off the week but struggled to move higher as the 50 Day EMA crossover offered significant resistance. With Federal Reserve moving to raise the interest rate this Wednesday, the pair is expected to trade under pressure with a back and forth momentum. The 1.14 level above will be a strong resistance and 1.13 level will act as a hard support. …Read More
GBP/USD
The British Pound was extremely volatile in yesterday’s session due to the trouble around the Brexit and headlines coming around through the British Parliament and Teresa May. The pair is likely to continue to see sellers on rallies and if it breaks below the 1.25 level, then it could possibly reach down to the 1.22 level. With Fed likely to raise interest rates in next meet, the overall momentum of this pair will be largely negative. …Read More
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AUD/USD
The AUD was a bit stable during yesterday’s session as it found support near the 0.7175 level, as it has been both support and resistance in the past. With Feds likely to raise interest rates, the market will experience a bit of bearish pressure and will continue to be erratic. The 0.70 level underneath will offer strong support to the pair and will be difficult for the market to break below. …Read More
USD/JPY
The pair rolled over a bit during the yesterday’s session testing the 50 Day EMA as support on the daily chart. The market is currently in the consolidation phase for some time and now with Fed more likely to hike the interest rates, the pair is likely to witness some bullish spurt, likely to break above the 113 level. …Read More