EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 18, 2018

By:

Published: Apr 18, 2018, 09:46 UTC

EUR/USD The pair failed to rally above 1.24 level during the Tuesday's session as it got too resistive to cross over and dropped towards the 1.2350 level.

EUR/USD

The pair failed to rally above 1.24 level during the Tuesday’s session as it got too resistive to cross over and dropped towards the 1.2350 level. This area is a bit of support for the market and is likely to find buyers soon to take the market higher. If the market breaks further then the uptrend line underneath will act as a major support line. …Read More

GBP/USD

The British Pound initially rallied during the Tuesday’s session but the area found to be too resistive to go higher and fall back reaching the 1.43 level. This area has been resistive in the past and could offer a strong support now. The market will continue to be choppy as there is a lot of noise between here and 1.45 level. …Read More

AUD/USD

The AUD had a bumpy ride during the Tuesday’s session, initially moving higher towards the 0.78 level but due to the strong resistance, it rolled over to fall back towards the 0.7750 level. By pulling back, this market is likely to attract more buyers and also as the gold market rallying there might be some upside momentum in this market. …Read More

USD/JPY

The USD initially rolled over against the JPY during the Tuesday’s session reaching the 106.80 level but turned around as the Americans started getting into the market showing signs of potential risk on move. If the market crosses the 108 level above in next few sessions, it will be a positive development and will send this market towards the 110 level. …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.