EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 10, 2018

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Published: Apr 10, 2018, 09:02 UTC

EUR/USD The pair continued to be noisy at the start of Monday's session as the 1.2350 level was a bit resistance. The pair is likely to pull back a little

USD/JPY Downtrend Continuation Only if 108.45 Breaks

EUR/USD

The pair continued to be noisy at the start of Monday’s session as the 1.2350 level was a bit resistance. The pair is likely to pull back a little in the short term to build up necessary momentum to break above the 1.2350 level which will further send this pair towards the 1.24 and 1.25 level. Short-term pullbacks will offer a good opportunity to buy this market. …Read More

GBP/USD

The British Pound rallied significantly during the breaking above the 1.41 level and reaching the 1.4150 level. The 1.42 level will be difficult to cross above and will be choppy around. A break above will send this market higher towards the 1.42 and 1.43 level eventually. The 1.40 level underneath is a massive support level and pullbacks will offer a good buying opportunity. …Read More

AUD/USD

The AUD was extremely volatile during the Monday’s session, initially trying to move above the 0.77 level but got enough resistance to fall back lower towards the 0.7650 level. The area is a strong support and has been tested in the past as well. In the longer term, it believed that AUD will continue to move higher initially breaking above the 0.7750 level and then moving towards the 0.81 level. …Read More

USD/JPY

The USD initially tried to rally against the JPY but faced strong resistance around the 107.20 level. The pair has enough support below that will keep this market stay higher. If it succeeds to break above the 107.50 level, then it will be a positive development that will send this market towards the 110 level in the medium term. The 105 level underneath is acting as a hard floor of this market and will continue to consolidate around the region. …Read More

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Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.