Money EURUSD

Forex Daily Outlook – April 2, 2019

EUR/USD

The pair retraced back to the 1.12 level in Monday’s session, as the market continues to struggle with a lot of problems in the European Union. The German manufacturing activity came down to the lowest in seven years, attracting a lot of selling pressure in the market. Signs of an economic slowdown in both economies are becoming strong which will keep the market volatile. A break below 1.12 level, would eventually send the market down towards the 1.10 level. …Read More

GBP/USD

The British Pound went back and forth during yesterday’s session as the market continues to consolidate. The 1.30 level underneath is offering massive support to the market and also it coincides with the 61.8% Fibonacci retracement level from where it has witnessed a couple of bounces. The market will continue to be extremely noisy and in the upside, there is a lot of resistance at the 1.3350 level. …Read More

AUD/USD

The AUD gapped higher at the open on Monday, breaking above the 50 Day EMA slope, but due to the presence of significant resistance above, it pulled back and wiped out all the gains. The 0.7050 level is the strong support for the pair, that extends down to the 0.70 level and will continue to attract a lot of attention. Going by the trends, the idea of short term pullbacks will continue to offer value. …Read More

USD/JPY

The USD rallied higher during yesterday’s session, trying to reach towards the 111.50 level but is witnessing a bit of selling pressure above. The market will continue to struggle at higher levels and is likely to continue trading in a back and forth momentum. The 110 level underneath is the floor of this market and if the pair breaks above the 111.50 level, then it can easily reach towards the 112 level. …Read More