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Forex Daily Outlook – January 16, 2019

Forex Daily Outlook – January 16, 2019

EUR/USD

The Euro was a bit negative during the Tuesday’s session, breaking below the 1.1450 level to reach the supportive 1.14 level. The 200 Day EMA is offering a significant resistance and until it breaks above that, the pair will continue to witness selling pressure on each and every rally. There are a lot of developments going around especially with the Fed on future rate hikes, ECB’s decision to step away from asset purchase and Brexit which will keep the market extremely noisy. …Read More

GBP/USD

The British Pound rolled over ahead of the Brexit vote reaching down to the 1.27 but soon bounced back as soon as Theresa May’s deal voted down in the parliament. The pair is expected to continue face negative selling pressure and will probably go down to the 1.25 level in the next few session. Also, the market will continue to be extremely volatile in the days ahead until there is any clarity of the Brexit deal. …Read More

AUD/USD

The AUD rallied higher during the yesterday’s session breaking above the 0.72 level and is trying to reach towards the massively resistive 200 Day EMA slope. It is likely that the pair will face extreme selling pressure on the top and if it breaks below the 50 Day EMA, then it would be extremely negative and could break down to the 0.70 level. …Read More

USD/JPY

The USD initially rallied during the yesterday’s session but gave back gains as the session progressed. The pair is encountering multitudes of concerns which will continue to weigh upon the currency pair. The 109 level above is extremely resistive that extends up to the 110 level. If the pair breaks below the 108 level, then it could possibly reach down to the 105 level or below. …Read More

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This article was originally posted on FX Empire

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