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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 10, 2018

By:
Colin First
Published: Jan 10, 2018, 08:42 UTC

EUR/USD The upside momentum in the market for last several weeks has reversed now. During the yesterday's session market went further lower towards the

Wednesday Support and Resistance Levels – December 20, 2017

EUR/USD

The upside momentum in the market for last several weeks has reversed now. During the yesterday’s session market went further lower towards the 1.19 level underneath, also a strong support level. The market is expected to bounce from there and if it able to clear the 1.20 level, the market is expected to continue to the 1.21 level. Going ahead, what ECB does next in respect of rate hike and dollar movement will influence this market. …Read More

GBP/USD

The pair traded with a negative proclivity during the Tuesday’s session reaching towards the 1.35 level which is also a massive support level. A break down from here will eventually send the market towards the 1.33 level. The market is anticipating a bounce from here majorly due to the volatility in the dollar and perceived historical cheapness of the British Pound. The 1.3650 level is a massive resistance zone and if the market clears above then it will be a buy and hold for the investors. …Read More

AUD/USD

The pair initially tried to rally higher during the Tuesday’s session but then turned around to reach the 0.78 level. This area is providing a lot of interest among the traders as it features a gap in that area. The 0.7750 level underneath is also a massive support region and buyers are likely to get involved and take the market higher. Going forward, the market will try to reach the 0.80 level and both gold and dollar will influence this market. …Read More

USD/JPY

The pair was extremely volatile during the Tuesday’s session as it reached towards the 112.50 level underneath and then turned around to reach towards the 113 level only to fall again. The massive selloff that started is especially positive for the market as it indicates of the buyers are willing to enter the market. The break above 113.50 level will send the market towards the 114 and 114.50 level. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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