EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 23, 2018

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Published: Mar 23, 2018, 08:31 UTC

EUR/USD The pair dropped slightly lower during the Thursday's session testing 1.23 level for support and its look likely that the market will move higher

EUR/USD

The pair dropped slightly lower during the Thursday’s session testing 1.23 level for support and its look likely that the market will move higher from here. The pair has a strong support at the 1.2275 level extending up to 1.21 level. If the pair succeeds in breaking above the 1.24 level, it will continue to go much higher. …Read More

GBP/USD

The British Pound initially went higher reaching the 1.42 level after the MPC announcement but rolled over significantly to test the 1.41 region for support. The market is likely to continue its bullish momentum reaching the 1.43 level and above. In case it breaks below the 1.40 level, which is the floor of this market then it will be negative for the market. …Read More

AUD/USD

The AUD had a choppy session during the yesterday’s session, initially moving higher but rolled over to reach towards the 0.77 level. If the pair breaks below the 0.7675 level, it should then reach towards the 0.76 level and then towards the 0.75 level. The latest development which is fueling the prospect of a trade war will keep the market under pressure. …Read More

USD/JPY

The pair sliced through the 10.5.50 level during the yesterday’s session as Fed failed to surprise the market with its rate hike outlook and was in the expected lines. If it breaks below the 105 level, then the next support is around 100 level. In the alternate case, the pair needs to break above the 106 level in order to continue moving higher. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.