Australia Markets close in 5 hrs 30 mins

Forex Daily Outlook – January 8, 2019

Colin First
Forex Daily Outlook – January 8, 2019

EUR/USD

The pair rallied during the Monday’s session, reaching towards the upper part of the consolidation area. The pair is likely to experience too much volatility around as 200 Day EMA above will be providing too much resistance. The market is likely to continue consolidating 1.13 and 1.15 level, however, if it breaks above the 1.15 level, then it should easily reach towards the 1.16 level and above. …Read More

GBP/USD

The pair experienced a lot of volatility in yesterday’s session, trying to rally above the 1.28 level but the 50 Day EMA is providing strong resistance. The Brexit headlines will continue to weigh upon the pair and until there is any clarity on the matter, selling pressure is likely to continue. Important support at the market is placed at 1.25 level and extends down to the 1.22 level. …Read More

AUD/USD

The AUD rallied slightly during the yesterday’s session reaching towards the 50 Day EMA level, and it looks that the market is now losing the momentum to continue higher. On the upside, 200 Day EMA and 0.7250 level continue to be massively resistive and signs of exhaustion in the market will attract sellers back and will hammer the pair down. …Read More

USD/JPY

The USD initially pulled back slightly during yesterday’s session, reaching down towards the 108 level, which provided enough support to the market. The market is expected to rally towards the 110 level, which is now massively resistive and failing to break above will send the pair lower. Overall, the sentiment of the market is still bearish and 200 Day EMA is turning lower, which of course is a negative sign. …Read More

This article was originally posted on FX Empire

More From FXEMPIRE: