EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 21, 2017

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Published: Dec 21, 2017, 08:57 UTC

EUR/USD The pair was mostly quiet during the Wednesday's session but as the Americans session started, the pair shot higher towards the 1.19 level. This

Forex Trading Signals - December 20, 2017

EUR/USD

The pair was mostly quiet during the Wednesday’s session but as the Americans session started, the pair shot higher towards the 1.19 level. This is a very positive development in the market and on the weekly chart, the pair has formed a bullish flag and because of this, it is believed that the market will go much higher. Any pullbacks in the market will be an excellent buying opportunity and going ahead the pair can witness volatility as the US Senate has passed the tax reform bill which will strengthen the dollar. …Read More

GBP/USD

The British Pound rallied during the Wednesday’s session as it tried to go above the 1.34 handle, which is bit resistive. The pair will be a bit noisy as it reaches higher above the 1.35 level and then may attract sellers. There is a lot of developments going on this market relating to the Brexit negotiations, the passage of US tax reform bill which will keep the pair under check. A break below 1.333 level will pull this market down towards the 1.31 level. …Read More

AUD/USD

The AUD went sideways through the day on Wednesday as the 0.7650 level is likely to be the fair value of this market. The market will continue to struggle as it moves ahead and the 0.77 level will provide resistance. A break below 0.76 level will be a negative development for the market and will probably test the 0.75 level. An upside movement in the gold prices will help the pair to go higher. …Read More

USD/JPY

The pair shot higher during the Wednesday’s session by breaking above the important 113 level but got slight resistance at the 113.33 level. The buyers are likely to come back into the market if it pulls back toward the 113 level. The 114 level will be the next target for the market with 114.50 level is going to be massively resistive. In the long term, the market will continue to gain value due to the favourable interest rate differential and the tax reform in the United States. …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.