EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 26, 2018

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Published: Apr 26, 2018, 17:10 UTC

EUR/USD The pair went much lower during the Wednesday's session reaching the 1.21 level, the area which has massive importance and was also the scene of a

EUR/USD

The pair went much lower during the Wednesday’s session reaching the 1.21 level, the area which has massive importance and was also the scene of a major breakout. A bounce from here will confirm the continuation of the upside trend but the pair is experiencing huge downward pressure due to rise in the yield of Treasury papers in the US. And, also lack of any clear direction from the ECB on monetary tightening is affecting the market. …Read More

GBP/USD

The market continued to drift lower during the Wednesday’s session reaching down towards the 1.3925 level, an area which has been resistive in the past. There is a chance of a short-term bounce from here and if it succeeds to get past the 1.4025 level, then the upside trend should continue. The 1.38 level and 1.3650 level underneath will continue to provide a major support to this market. …Read More

AUD/USD

The pair continued with bearish momentum in the Wednesday’s session testing the 0.7575 level for support. The market is expected to continue with its downward slide reaching towards the 0.75 level which is an important support level and if it goes down below that level then it will further fall towards the 0.7250 level. …Read More

USD/JPY

The USD continued it bullish streak against the JPY during the Wednesday’s session due to higher interest rates coming out if the United States. The pair now is likely to break above the 110 level and any pullbacks in the market will be a nice buying opportunity. The 108 level and 107.50 level underneath is a major support level and is unlikely to be broken anytime soon. …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.