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Forex Daily Outlook – October 8, 2018

Colin First
Forex Daily Outlook – October 16, 2018

EUR/USD

The pair consolidated during the Friday’s session as the 1.15 level offered a quite a bit of support to the market. With US job numbers were below than the estimated in September month and now it is expected that the pair will rise from here towards the 1.18 level, but the initially it need to cross above the 1.17 level. Dips in the market should continue to offer a nice buying opportunity. …Read More

GBP/USD

The British Pound rallied significantly on Friday after the release of September month’s US job data. The 1.30 level underneath is a strong support point for the market and is unlikely to break soon. The pair will continue to be noisy given the Brexit negotiations are in the final phase which will affect the momentum of the GBP. The 1.3125 level above will continue to be resistive and short-term pullbacks will offer a nice buying opportunity. …Read More

AUD/USD

The AUD bounced higher after testing for support at the 0.70 level and was also supported by the weak set of job numbers in the September month. The 0.71 level will continue to offer a bit of resistance and will also difficult for the market to tread higher given the weak fundamentals around the market. If the pair breaks below the 0.70 level, then the market will probably go down towards the 0.68 level. …Read More

USD/JPY

The USD drifted a bit lower during the Friday’s session after a weak set of job numbers pronounced. The pair is likely to be a bit negative in the short term, but the longer term outlook remains unchanged. The favourable interest rate differential will continue to send this pair higher. Overall, the pair will continue to be volatile with strong support at 113 level and 114.50 level above should continue to be a bit resistive. …Read More

This article was originally posted on FX Empire

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