Forex Daily Outlook – June 11, 2018

EUR/USD

The Euro started off weak against the USD in the Friday’s session, reaching towards the 1.1725 level, perhaps in a bit of risk off move after less than impressive German economic data came out. But, the pair witnessed some bounce from the lower levels and it is likely to move towards the 1.1850 level. Also, the prospects of trade wars with the US and other European nations getting expanded and with that the market will remain volatile and noisy. …Read More

GBP/USD

The market fell lower during the Friday’s session reaching towards the 1.3350 level, which has been important in the past. The market has a plenty of support underneath and is likely to attract enough buying pressure and also the market is likely to recover from the oversold territory. The 1.35 level and 1.3650 level on the top will continue to offer strong resistance. …Read More

AUD/USD

The AUD had a weak session during the Friday’s session slicing through the 0.76 level but got slight buying pressure from the lower levels. The market has a plenty of support underneath around the 0.75 level, and it is likely that buyers will be attracted to the market taking it higher. In the longer-term, the market looks positive with 0.78 level and 0.80 level as the next target. …Read More

USD/JPY

The USD fell initially against the JPY during the Friday’s session only to bounce higher from the 109 level. The 110 level on the top is massively resistive and the market is finding difficulty in staying above the level. Looking forward, the market is likely to be volatile and noisy on the concerns of fear of deepening trade wars with the US. The 108.50 level underneath is the strong support point in the market. …Read More

 

This article was originally posted on FX Empire

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