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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 16, 2018

The markets have been generally stable to begin the week

EUR/USD

The pair drifted a little lower during the Thursday’s session reaching the 1.23 level which is a strong support level. Yesterday’s move in the market is a sort of a risk-off trade and if it breaks below here, then it should probably go down towards the 1.21 level or towards the general uptrend above it. The pair needs to break above the psychologically important 1.25 level in order to resume rallying. …Read More

GBP/USD

The pair initially dropped lower during the yesterday’s session reaching towards the uptrend line as it continues to offer support, from there it bounced higher towards the 1.39 level. Because of this, the market is likely to build enough momentum to break above the 1.40 level which will send this market towards the 1.43 level but at the same time volatility will continue affecting this market. …Read More

AUD/USD

The AUD dropped significantly lower during the Thursday’s session reaching towards the 0.78 level which is acting as a short-term floor of this market. The noise in the market is caused due to volatility in the global stock prices and gold market. The market is expected to move back and forth in the way forward due to the global volatility in financial market and 0.78 level will continue to offer strong support extending up to 0.77 level. …Read More

USD/JPY

The pair has been very volatile during the yesterday’s session as it drifted a little lower testing the 105.50 level which is its major support level. If the pair breaks below further from here, then it will reach further lower towards the 100 level. The pair need it break out above the 107.50 level, in order to turn out from the bearish hold. …Read More

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This article was originally posted on FX Empire

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