Forex Daily Outlook – September 4, 2018
EUR/USD
The pair had a slight upside momentum in the Monday’s session, bouncing higher from the supportive 1.16 level. With the US market was closed yesterday on account of Labor Day which resulted in lesser volatility. The market from here is expected to reach towards the 1.17 level and a break above could lead to the pair reaching towards the 1.18 level, which is the top of long-term consolidation. …Read More
GBP/USD
The British Pound had a negative start of the week, as it gapped lower and significantly reaching down to the 1.2850 level. This area is a massive support region for the pair and may attract buyers which will send it higher. The market currently is hooked up to the Brexit issue and headlines will continue to move this market drastically. A break below this level will be negative and will go down to the 1.28 and 1.2750 level eventually. …Read More
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AUD/USD
The AUD resumed its upside movement in the yesterday’s session after falling significantly in its previous sessions. Right now, the pair is trying to break above the 0.7230 level which is a positive sign for the market and successful clearance will result in pair moving further higher towards the 0.7350 level and 0.74 level. The AUD is very sensitive to the Chinese economy and any further deterioration in the US-China trade links will affect this pair adversely. …Read More
USD/JPY
The pair continued to remain volatile in the Monday’s session without any signs of definitive movement. The pair is likely to be forming a rising wedge pattern, which is a negative sign and a break below the uptrend line could cause the pair to reach towards the 110.50 level again or much below. And if it bounces from here, then there is a maximum probability that the pair will reach towards the 112 level. …Read More