Yahoo Finance Forex Daily Outlook – February 20, 2019
EUR/USD
The Euro initially pulled back during Tuesday’s session but received strong support around the 1.13 area, which helped to rally higher. The pair is likely to continue its long-term consolidation which now ranges between the 1.12 and 1.15 level. If the pair can clear above the 1.1350 level, then it will be a bit positive for the market and could reach another 100 pips higher. …Read More
GBP/USD
The British Pound continued to trade bullish as it has now broken above the psychologically important and resistive 1.30 level. The pair now is likely to reach towards the 1.32 level and going forward, buying short term pullbacks will continue to offer value. Although the market will remain volatile due to the Brexit and if the pair breaks down, then 1.27 level underneath will offer hard support. …Read More
AUD/USD
The pair initially pulled back a bit reaching down to the 0.71 level as it continued to be extremely noisy. But gained enough momentum later in the session to start moving higher again. The 0.7250 level above will continue to be extremely resistive and is also top of recent consolidation. If it can break above, then it can easily reach towards the 0.75 level. …Read More
USD/JPY
The USD continued to show resiliency against the JPY, as it rallied higher towards the 111 level. The 200 Day EMA above is offering strong resistance and once it clears above, then it can easily reach towards the 112.50 level. On the downside, the 108 level will be massively supportive and will attract enough buyers around. …Read More
This article was originally posted on FX Empire
More From FXEMPIRE:
AUD/USD Forex Technical Analysis – February 20, 2019 Forecast
EUR/USD Price Forecast – EURUSD to Trade Flat Ahead of Fed Meeting Minutes
DAX Index Daily Price Forecast – Positive Cues To Induce Bullish Action in DAX
E-mini S&P 500 Index (ES) Futures Technical Analysis – Dovish Minutes Could Spike Index Higher
Japan Trade Woes Continue as Focus Shifts to the USD and the FED
