EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 26, 2018

By:

Published: Feb 26, 2018, 08:15 UTC

EUR/USD The pair went back and forth during the Friday's session as it trying to build some kind of base in this market. The 1.2250 level should offer

Forex Trading Signals - December 19, 2017

EUR/USD

The pair went back and forth during the Friday’s session as it trying to build some kind of base in this market. The 1.2250 level should offer strong support in the short term, and if it breaks down then it will be a negative for the market which has its next important supports at 1.21 and 1.20 level eventually. The longer-term outlook for the market remains positive and weakness in the US Dollar will support this market to go higher with a target of 1.32 level. …Read More

GBP/USD

The British Pound has been volatile during the Friday’s session as it continued to jump around just below the 1.40 level. If this market clears above the 1.4050 level, then the market should continue to rally with the next target of 1.43 level. In the long-term charts, the next target for the market is at 1.45 level with buying on dips will be the right strategy to play this market. …Read More

AUD/USD

The AUD went sideways through the Friday’s session as it experienced strong support at the 0.78 level which is a psychologically important level and also 50 percent in Fibonacci scale. The pair is likely to attract a lot of buyer’s interest and will be looking towards reaching the 0.79 level and eventually broke above the 0.80 level. The gold market continues to have massive influence in the AUD as both are positively correlated. A break below 0.78 level will perhaps send the market towards the 0.7750 level and even lower. …Read More

USD/JPY

The pair has been fallen a bit during the Friday’s session reaching the 106.50 level which is acting as support. If it continues to go further lower then next target for the market will be perhaps at 105.50 level. The US Dollar is struggling against most of the currencies which is hurting this market. On the weekly chart, it has formed a shooting star candle which is a negative sign and has also failed to cross the 107.50 level above. Going forward, the market will go choppy and any short-term rallies in the market will attract sellers into the 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.