Yahoo Finance Forex Daily Outlook – July 16, 2018
EUR/USD
The market continued to move lower during the Wednesday’s session reaching down towards the 1.16 level but managed to bounce a little as it witnessed some buying interest around the area. If the market further breaks from here, the next major support will be at 1.15 level. There are a lot of political developments coming out of Europe and also the trade wars are building pressure on the market and hammering the Euro. A break above 1.17 level could bring some amount of stability to the market. …Read More
GBP/USD
The British Pound fell hard during the Friday’s session reaching down to 1.31 level but also managed to bounce higher from here showing signs of resiliency. The market is expected to remain volatile as the Brexit noise grows in the market and now probably going to trade in a range bound manner between 1.31 and 1.32 level. If it succeeds to break above the 1.32 handle, then it can move further higher with 1.3250 level as an immediate resistance. …Read More
AUD/USD
The bearish sentiment in the AUD continued through the Friday’s session reaching down to the 0.7350 level, where it stabilized a bit. The weakness in the market is likely to continue and if it breaks from here, then the next major support is at 0.73 level. The AUD is highly sensitive to the global macro headlines and trade tariffs and until these things stabilise, AUD will lack upside momentum. …Read More
USD/JPY
The pair hovered just above the vital 112.50 level in the Friday’s session as the market was looking for some kind of momentum. The market has rallied significantly in a very short period of time and if it pulls back then it will not be a major issue. Such pullback will offer a nice buying opportunity. Also, there is a plenty amount of support near the 112 level. …Read More
This article was originally posted on FX Empire
