Forex Daily Outlook – April 5, 2019

EUR/USD

The Euro rolled over during Thursday’s session from the much resistive and psychologically important 1.1250 level. At the moment, the pair is struggling to gain momentum to break above the range and is witnessing selling pressure on the top. The 1.12 level underneath is massive support and if it breaks below, then it will be extremely negative and reach down to 1.10 level. …Read More

GBP/USD

The British Pound pulled back slightly during yesterday’s session, as the pair continues to witness a lot of noise. The pair continues to be in a consolidation phase and has been using the 1.30 level underneath as strong support, while the 1.33 level above as strong resistance. Going forward, the pair is expected to be extremely volatile due to negative Brexit headlines and would attract a bit of selling on the top. …Read More

AUD/USD

The pair gained a bit of strength during yesterday’s session, reaching above the 0.71 level. But, in the long term chart, the pair continues to look weak and is likely to attract sellers on every rally. With job figures coming out later today, the pair is expected to remain choppy with 0.7050 level underneath offering strong support and 0.7250 level above acting as strong resistance. …Read More

USD/JPY

The 111.50 level continues to attract a lot of attention in the market as it rallied a bit during Thursday’s session. The pair in today’s session is likely to be a bit volatile as due to the US job numbers which expected later in the day. Favourable job data will help the pair to break above 112 level, and in case, it fails to meet the estimated, it could probably reach down towards the 110 level. …Read More