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Forex Daily Outlook – March 19, 2019

Colin First
Updated
Forex Daily Outlook – March 19, 2019

EUR/USD

The market turned bullish during Monday’s session, as it went past the highs of the previous session and has also broken above the 50 Day EMA slope. The market is witnessing strong buying pressure underneath indicating the reversal of bearish trend after the ECB press conference. The break above the 1.14 structurally important level would send the pair higher towards the 1.1450 level. Underneath, the 1.13 level would offer strong support. …Read More

GBP/USD

The British Pound fell a bit during yesterday’s session, reaching down towards the 1.32 level. Overall, the market is likely to continue to drive value and a breakout above 1.33 level would be an extremely positive development, helping the pair to reach 1.35 level. If the pair breaks below the 1.32 level, then it could drop to the 1.30 level, where it could experience strong support. …Read More

AUD/USD

The AUD  turned around during yesterday’s session, as it wiped out all the gains it had on Friday’s session. By doing this, the market has once again lost the bullish momentum and now likely to reach down towards the supportive 0.70 level, which extends down to the 0.68 level. Rallies will continue to offer nice selling opportunity until it breaks above the 0.7250 level. …Read More

USD/JPY

The USD has broken below 111.50 level against JPY in yesterday’s session as the market is experiencing a lot of resistance above. This market will continue to be a lot noisier given its direct correlation to the global macros and geopolitical tensions. A break above 112 level would help the market to reach towards the 113.50 level and above but will require stronger momentum. …Read More

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This article was originally posted on FX Empire

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