Australia Markets open in 3 hrs 18 mins

EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 9, 2018

Colin First
The crypto market has been undergoing a correction but the next bullish leg is expected to begin soon

EUR/USD

The pair experienced a lot of volatility in the Thursday’s session due to a press conference by ECB in which it suggested of stimulus easing was necessary to stoke inflation which led to a lot of noise in the market. In general, the market is still in the uptrend, but short-term pullback will offer value. The 1.23 level offers a strong support where buyers are likely to get involved in. …Read More

GBP/USD

The pair was mostly sideways during the Thursday’s session as it is seen testing the minor uptrend line. This minor uptrend line is unlikely to hold and should look for support at lower levels. Alternatively, if this market bounces higher then it should try to reach the 1.39 level and above. The pair has strong support at the 1.38 level and 1.3750 level underneath and an opportunity to pick up value. …Read More

AUD/USD

The pair initially went lower during the Thursday’s session but rallied a bit from the 0.78 level which is offering support to this market and is also a psychologically significant number. If the pair succeeds to break above the 0.7850 level, then the market is probably looking to reach towards the 0.79 level and above. …Read More

USD/JPY

The pair went back and forth during the Thursday’s session as it is experiencing a lot of noise around the region. This market is going to be very risk sensitive to overall risk appetite around the world. If the global market succeeds to rally, the pair will try to reach towards the 107.50 level which is massively resistive. The pair has a major support at the 105 level and a break could send this market significantly lower towards the 100 level. …Read More

This article was originally posted on FX Empire

More From FXEMPIRE: