EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 9, 2018

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Published: Feb 9, 2018, 09:12 UTC

EUR/USD The pair has been much volatile through the Thursday's session but gained significantly after the Amercian session started and tried to reach

Tuesday Support and Resistance Levels – November 21, 2017

EUR/USD

The pair has been much volatile through the Thursday’s session but gained significantly after the Amercian session started and tried to reach towards the 1.23 level and above. If it clear above the 1.23 level, then much of bearish trend will faze out of the market and will reach 1.24 level and then eventually 1.25 level. Alternatively, the pair goes down from here, then it will likely to consolidate between the 1.23 level at the top and 1.22 level at the bottom. …Read More

GBP/USD

The British Pound rallied significantly during the yesterday’s session reaching towards the 1.40 level as the Bank of England signaled of an earlier and larger rates hikes. Breaking above the psychologically important 1.40 level will send this pair much higher possible towards the 1.43 level and then 1.45 level. In the short term, the US dollar index will largely influence this market and will continue to remain volatile. …Read More

AUD/USD

The AUD continued its weakness through the Thursday’s session as it went down towards the 0.78 level where it is finding some amount of support. This is also the 50 percent in the Fibonacci retracement from the massive move higher and also the psychologically significant number that attracted a lot of attention in the past. The buyers are expected to get involved which will push this market towards the 0.79 level. In the alternate scenario, a break from here could send the market much lower towards the 0.77 level. …Read More

USD/JPY

The pair rallied a bit during the Thursday’s session reaching towards the 110 level but continues to find plenty of resistance at this level. This market is high risk sensitive and is affected by the global macro developments. The pair in this region is very difficult to trade unless and until it crosses the 110.50 level above. In the lower level, the 108.50 level is likely to hold and a break could result in fear and a further breakdown in 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.