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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 18, 2017
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EUR/USD The market initially tried to rally on Friday's session but due to lack of any significant momentum, the market rolled over. The 1.17 level is
EUR/USD
The market initially tried to rally on Friday’s session but due to lack of any significant momentum, the market rolled over. The 1.17 level is going to be an important support level for the market and a break above the 1.1850 level will send the market above 1.20 level which will be then a “buy and hold” situation in the market. The factors which will now affect this market will be on tax reform bill from the US and ECB economic forecast which was released last week. …Read More
GBP/USD
The pair started off with a sideways movement on Friday but then fall lower to break the 1.333 level which was acting earlier acting as a floor. This market is now expected to go lower near the 1.32 level which is next important level for this market. Overall the long-term trend of the market is still upside which will attract the buyers into the market. If the market breaks above the 1.35 level, then it could probably reach the 1.3650 level. The volatility will be the mainstay in this pair as Brexit negotiations have entered phase 2 which will primarily discuss on trade. …Read More
AUD/USD
The pair turned negative in Friday’s session after rallying in the past two sessions. The pair initially rallied towards the 0.77 level but from there it went down towards the 0.7650 level. If this market manages to break above the 0.77 level, then it will be very bullish and send the pair towards the 0.80 level. Lack of support from the gold market will keep this market subdued. The pair is well supported at the 0.75 level underneath. …Read More
USD/JPY
The pair initially dipped lower towards the 112 handle on Friday’s session but then found enough buying pressure to rally upside. Any short-term dips in the market will get enough buying pressure towards the 113 level. As this market is risk sensitive to external factors which will keep this market quite volatile. The passage of tax reform bill will be the next trigger for the market. Going ahead, the market is likely to be in the 111 to 114.50 range. …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.
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