EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 5, 2018

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Published: Feb 5, 2018, 08:55 UTC

EUR/USD The pair was initially volatile during the Friday's session as it was waiting for the job number data and when it arrived, the data was better

Forex Trading Signals - January 11, 2018

EUR/USD

The pair was initially volatile during the Friday’s session as it was waiting for the job number data and when it arrived, the data was better than expected which led to a small pullback reaching towards the previous uptrend line. The market has bounced from there, indicating a build-up of necessary momentum to break above the 1.25 level. Pullbacks in the market continue to offer good opportunity to enter this market and if it breaks the general uptrend line i.e 1.24 level then it will continue to drop further. …Read More

GBP/USD

The British Pound fell during the Friday’s session slicing through the 72-hour EMA and reaching towards the 1.41 level which offered a bit of support. If this market continues to break above the 1.4150 level then it will reach much higher, perhaps towards the 1.43 level. The 1.40 level is acting as a floor of this market and will continue to see the general uptrend line. Going forward, the market will remain volatile as the better than expected job numbers from the US will keep the USD in positive territory. …Read More

AUD/USD

The AUD has fallen into the negative side of the territory during the Friday’s session as the US reported better than expected job numbers. The pair sliced through the 0.80 level and is likely to continue to see negative pressure but if the market breaks above the 0.80 level again, then it will be a bullish move and will reach 0.8150 level eventually. And, if breaks below the 0.79 level, then it will go much lower reaching towards the 0.7750 level. …Read More

USD/JPY

The US Dollar went higher during the Friday’s session reaching towards the 111 level on the back of strong job data number from the US. If this market clears this area, then it will try to reach towards the 112 level and break above there will be a very bullish indication. Alternatively, if this market breaks below the 109.50 level then selling will start into this market. This pair is a very risk sensitive pair, an increase in global yields will pull the stock markets down which will have a direct influence on the USD/JPY pair. …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.