EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 24, 2018

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Published: Apr 24, 2018, 07:35 GMT+00:00

EUR/USD The pair started the week with weak momentum as it hit a new 7-week low reaching 1.2195 level during the Monday's session. The weakness is majorly

EUR/USD

The pair started the week with weak momentum as it hit a new 7-week low reaching 1.2195 level during the Monday’s session. The weakness is majorly due to rising yields of 10 years treasury bonds which resulted in the dollar to surge. The pair has now entered a major support region and a break below 1.21 level will change the bullish tone of the market and will further reach lower. …Read More

GBP/USD

The British Pound broke below the important 1.40 level during the Monday’s session which turned the pair negative. The weakness is caused due to rising yields of treasury bonds in the US which resulted in the dollar to gain significantly. The 1.39 level underneath would be massively supportive and will find buyers to continue the overall bullish trend. …Read More

AUD/USD

The pair broke significantly during the Monday’s session slicing through the long-term general uptrend line. If the market breaks below the 0.76 level then it will be very negative and will move much lower perhaps reaching down towards the 0.75 level. The 0.77 level will be a massive barrier to break out to the upside. …Read More

USD/JPY

The pair gapped higher during the Monday’s session breaking above the 108 level which was massively resitive in the past. The market is likely to go higher reaching towards the 110 level in next several sessions as the USD has been strengthening against most currencies around the world. The 107.50 level will offer a bit of floor in this market now. …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.