EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 22, 2018

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Published: Feb 22, 2018, 08:52 UTC

EUR/USD The pair traded with a negative tilt during the Wednesday's session as it was hovering just around the 1.23 level. The pair has plenty of support

USD/JPY Possibly Up to 107.20 if 106.60 Breaks

EUR/USD

The pair traded with a negative tilt during the Wednesday’s session as it was hovering just around the 1.23 level. The pair has plenty of support underneath and also buying interest which will send the pair higher. If it breaks above the 1.2350 level, then the market should reach much higher, possibly towards the 1.25 level and 1.2750 level in the long term. Alternatively, if it continues to drop further then the market should roll over towards the 1.21 level and then possibly towards 1.20 level. …Read More

GBP/USD

The pair initially rallied during the Wednesday’s session reaching towards the 1.40 level but due to significant resistance above, it rolled back. If the pair clears above the 1.4050 level, then the market should go much higher possibly reaching towards the 1.4150 level. The 1.38 level underneath is the floor of this market and any pullback will be a nice buying opportunity. …Read More

AUD/USD

The AUD continued to fall during the Wednesday’s session reaching towards the 0.78 level but because of this, it may also get potential buying interest as it is the 50 percent in Fibonacci scale and also the 0.78 level is the massive support region. Given enough time, the market will pullback as it will attract a lot of value buyers and the movements in the gold market will also influence this market. …Read More

USD/JPY

The USD initially fell against the JPY in yesterday’s session but got enough buying interest around the 107.50 level which has been a bit of resistance for the market. If the pair breaks successfully break above the 107.50 and 108 level, then the negative build-up of momentum in the market will clear and will probably target towards the 110 level. If the global indices rally, then it will also support this market as it is positively correlated. Underneath the 105 level is going to be the floor of this market. …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.