Yahoo Finance Forex Daily Outlook – January 17, 2019
EUR/USD
The Euro continues to drift lower in the Wednesday’s session, breaking below the 1.14 level, as the pair is trying to form some type of bottom around. There are a lot of concerns surrounding the market which is keeping it choppy and volatile. Overall, the general sentiment is that USD will continue to lose against the EUR, however, the 200 Day EMA will push the market down. …Read More
GBP/USD
The market continues to be a lot more volatile amid all the Brexit developments and Theresa May’s confidence vote yesterday. The 1.30 level above is massively resistive and at present, there is a lot of downward risk in the market. Going forward, the GBP will be very difficult to trade and could reach down to the 1.25 level or much below. …Read More
AUD/USD
The AUD pulled back during the yesterday’s session after it had rallied significantly in the previous session breaking above the 0.72 level. The market will continue to remain on the negative side of the territory as the economic numbers from the Chinese economy is not so promising and further trade tensions between US-China is adversely affecting the pair. If 50 Day EMA is broken, then it could reach down to the 0.70 level. …Read More
USD/JPY
The USD managed to break above the 109 level in the yesterday’s session but there is a lot of resistance above up to the 110 level. If the market breaks down below the 108 level, then it will be extremely negative and could reach down to the 105 level. Going forward in the short term, rallies will be a nice selling opportunity as the USD remains in the back foot due to the Federal Reserve outlook. …Read More
This article was originally posted on FX Empire
