EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 30, 2018

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Published: Apr 30, 2018, 07:58 UTC

EUR/USD The pair initially rolled over during the Friday's session breaking down below the 1.21 level but buying from the lower level helped the pair to

EUR/USD

The pair initially rolled over during the Friday’s session breaking down below the 1.21 level but buying from the lower level helped the pair to bounce back. If in next few session, it breaks above the 1.2150 level, the pair will continue its bullish rally and 1.2350 level will be its short to medium term target. …Read More

GBP/USD

The British Pound turned negative as it rolled off very significantly during the Friday’s session reaching the 1.3750 level. This level has been both support and resistance in the past and is also likely to attract buyers. The 1.40 level will be difficult to break above and if it succeeds in going past this level, then more buying will follow in and reach higher. The 1.3650 level underneath will be strong support underneath and is unlikely to be broken. …Read More

AUD/USD

The AUD continued its sideways momentum during the Friday’s session hanging around the 0.7550 level. The area around the 0.75 level is an important support level and it is expected that in the short term, the market will witness sellers on rallies. Until the market closes above the 0.77 level, the bearish pressure will continue. …Read More

USD/JPY

The USD initially tried to rally during the Friday’s session but faced resistance at the 109.50 level to roll back towards the 109 level. A break from here could send the market down towards the 108.50 level. The bullish momentum is likely to continue in the market and given enough time, the pair will break above the 110 level which will send the market much higher. …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.