EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 12, 2018

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Published: Apr 12, 2018, 07:59 UTC

EUR/USD The market continued to trade with positive sentiments during the Wednesday's session as it managed to stay above the important 1.2350 level which

EUR/USD

The market continued to trade with positive sentiments during the Wednesday’s session as it managed to stay above the important 1.2350 level which was a significant resistance barrier. Also, with China and the US toning down its attitude relating to trade-wars, the risk appetite of traders has come under fire. In short-term, pullbacks will continue to offer good buying opportunity and if it succeeds to cross over 1.25 level which is one of its major resistance, then it will move towards its long-term target of 1.32 level. …Read More

GBP/USD

The British Pound initially pulled back during the Wednesday’s session reaching down towards the 50 DEMA which is 1.4150 level but managed to bounce higher reaching 1.42 level. Because of this, the market is likely to continue moving higher towards the 1.43 level and higher. The 1.4150 level underneath is likely to offer strong support to the pair which extends down to 1.40 level. …Read More

AUD/USD

The AUD continued to trade volatile during the Wednesday’s session, initially moving lower reaching towards the 0.7730 level but then bounced higher to move above the 0.7750 level. Because of this, the market is likely to head northward with an initial target of 0.78 level and 0.79 level eventually. If tension between US and China deepens, then it should help AUD to move higher as Australia is the major exporter of raw material to China. …Read More

USD/JPY

The USD moved lower against the JPY during the Wednesday’s session reaching down towards the 106.70 level. The pair is likely to consolidate between the 107.50 level and 106.50 level as it is trying to build up necessary momentum to break above its major resistance barrier. Overall the market will continue to be very noisy due to the tension between the world’s two biggest economies. …Read More

About the Author

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.