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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 14, 2018

Colin First
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 15, 2018

EUR/USD

The pair broke higher above the 1.23 level during the yesterday’s but experienced resistance above and pulled back lower. The pair is now expected to go higher towards the 1.24 level and then towards 1.25 level eventually from here which is a large, round, psychologically significant level.The pair has massive support around the 1.21 level underneath which is unlikely to be broken. …Read More

GBP/USD

The British Pound initially rallied higher during the Tuesday’s session but got enough resistance higher and pulled back. The pair is experiencing support at the 50 Day EMA from where it is expected to get a bounce. The 1.40 level above is going to be important and also a resistance barrier. The 1.3850 level underneath is going to be an important support in the short-term extending up to 1.3650 level as it was the scene of a major breakout. …Read More

AUD/USD

The AUD initially went sideways during the yesterday’s session but started to get some pressure on the top after the Americans came onboard. The small uptrend line is offering support and also keeping the market in flow as well as the 0.78 level has been very noisy. The market is massively supportive underneath and should continue to rise higher. The 0.79 level is going to be initially resistive and a crossover 0.80 level will attract a lot of buyers. …Read More

USD/JPY

The USD has reached the bottom of a larger consolidation area at 107.50 level against the JOY during the Tuesday’s session. If the pair reaches consolidates around this level during the day, buyers are most likely to pick up value. The S&P500 tends to have a direct correlation with the market, so its movement should be watched. If the pair breaks below the 107 level, then it will be negative and could dive much lower towards the 105 level. …Read More

This article was originally posted on FX Empire

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