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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 19, 2017
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EUR/USD The pair was extremely bullish during the Monday's session as it rallied higher covering all the losses from the Friday's session. The US dollar
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EUR/USD
The pair was extremely bullish during the Monday’s session as it rallied higher covering all the losses from the Friday’s session. The US dollar is has lost some of its value and is expected to get buying pressure. Short-term pullbacks in this market offer a great value to investors which will send this market higher in the longer term. A break above the 1.1850 level will send this market higher towards the 1.20 level and 1.21 level which will be then a “buy and hold” the situation in the market. Eventually, the 1.1750 and 1.17 level is going to be the floor of this market. …Read More
GBP/USD
The British Pound rallied significantly during the Monday’s session as it broke above the 1.333 level and reached the 1.34 level later in the day. This market is going to be a lot noisy as Brexit negotiation gaining pace and the risks associated with it. Ultimately, this market is believed to find enough buying pressure around the 1.333 level as it has been resilient in the past. The 1.35 and 1.3650 level is going to be the next target for the market and once it breaka above the 1.3650 level, smart money wil flow into the market. …Read More
AUD/USD
The AUD rallied a bit during the Monday’s session, reaching as high as 0.7675 level. This region in the market is very noisy and will face resistance to go above. On hourly-chart, the stochastic is in overbought territory indicating a slight pullback in the market. If it can break above the 0.77 level, then it will be a positive development and the market will rise towards the 0.7750 level. And, on the other side, a break below 0.7625 level will send the market towards 0.75 level. …Read More
USD/JPY
The pair initially went sideways during the Monday’s session but then fell lower to reach towards the 112.40 level. This region is well supported and is likely to get buyers returning to the market. A break below 112 level will be very negative for the market and there are a lot of factors playing down the market. A successful passage tax reform bill from the US will be positive for the market but there is more risk on attitude around the world. A break above 113 level will take this market higher towards the 114.50 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.
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