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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 12, 2018

Colin First
The markets have been able to climb higher in a slow and steady manner

EUR/USD

The pair initially went slightly higher during the Friday’s session but market collapsed as the US reported better than expected non-farm payroll data. The market is likely to grind lower towards the 1.23 and 1.21 level in the next few sessions but given enough time, it will start to move higher and a break above 1.25 level will be significant in the long run to go further higher. …Read More

GBP/USD

The market looked bit shaky in the Friday’s session as the strong non-farm payroll data affected the dollar to gain some strength. Because of this, the market is witnessing some amount of risk on move and given enough time, the market is expected to reach towards the 1.39 level, clearance of which will send this market towards the 1.40 level. The 1.38 level underneath will offer support in the short term and buyers will also likely to get involved. …Read More

AUD/USD

The AUD rallied during the Friday’s session as stronger US job data numbers helped the market to rally. If the pair breaks above the 0.7850 level then it should reach towards the 0.79 level and 0.80 level eventually. Gold will continue to have a major influence in this market as both are positively correlated. The market has strong support at the 0.77 level underneath and should not break below. …Read More

USD/JPY

The pair rallied during the Friday’s session reaching towards the 107 level on the back of buoyant job data from the US. If the market succeeds to break above the 107.50 level. then it could move higher towards the 110 level. The 105 level underneath is both psychological and strong structural support level, which will help this market to rally. …Read More

This article was originally posted on FX Empire

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