Forex Daily Outlook – February 18, 2019

EUR/USD

The Euro struggled a bit during Friday’s session in breaking above the 1.13 level but this level is also attracting a lot of attention. The pair is getting hammered due to ECB’s dovish attitude and weak economic numbers from the European Union. The pair is likely to continue consolidating between the 1.12 and 1.15 level and will also remain volatile. …Read More

GBP/USD

The British Pound initially fell during the Friday’s session reaching towards the 1.28 level, but later on, gained enough strength to pull back higher towards the 1.29 level. The pair is facing a lot of concerns due to the Brexit and the overall geopolitical action which seems a bit shaky. The 1.27 level underneath should offer strong support and if it breaks above the 1.30 level, it would bring back buyers into the market. …Read More

AUD/USD

The AUD is witnessed a bit of strength in Friday’s session as it continued to hold above the 0.7150 level. The market has likely formed a bottom around the 0.7050 level, that would help the market to rally towards the 0.7250 level. The geopolitical and global economic concerns are continuing to weigh upon the market and a breakout above the 0.7250 level would send the pair towards the 0.75 level. …Read More

USD/JPY

The pair was bit choppy during Friday’s session, as it experienced a pullback towards the 110.50 level. The buyers would like to take the market above 111 level, in order to attract more buying into the pair which would take it higher. At the moment, the 200 Day EMA is offering a strong resistance and there is plenty of support at the 110 level. A break below this level would cause the market to break down towards the 108 level. …Read More

This article was originally posted on FX Empire

More From FXEMPIRE:

• Natural Gas Price Prediction – Prices Recapture Resistance, with Small Rebound

• Gold Price Futures (GC) Technical Analysis – Opens Week on Bullish Side of Major Retracement Zone

• Gold Price Prediction – Gold is Breaking Out and Headed for 2018 Highs

• Crude Oil Price Update – Weekly Direction Controlled by $56.01 Gann Angle

• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Key Level on Weekly Chart is 7022.25

• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Needs to Hold 25548 to Sustain Eight-Week Rally