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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 15, 2018

By:
Colin First
Published: Jan 15, 2018, 06:10 UTC

EUR/USD The pair initially went sideways during the Friday's session but then exploded higher to clear above the 1.21 level which is a psychologically

Forex Trading Signals - December 20, 2017

EUR/USD

The pair initially went sideways during the Friday’s session but then exploded higher to clear above the 1.21 level which is a psychologically significant level. Now the market has hit a fresh new high, it is expected to go much higher towards the 1.24 level and eventually the 1.25 level. This market is expected to witness a lot of volatility as due to continued weakness in the dollar and also ECB looks likely to continue the easing of QE. Buying on dips will be the right strategy to play this market ahead. …Read More

GBP/USD

The pair exploded higher during the Friday’s session slicing through the 1.3650 level, which is a very significant development mainly due to the gap above resulting from the surprise Brexit announcement. Going ahead, the market and will become more of a buy and hold market and 1.3650 level will offer support. The market is expected to rise from here as the US dollar continues to plummet against the major currencies and due to oversold conditions in the British pound. The long-term target for the pair remains at the 1.45 level. …Read More

AUD/USD

The AUD initially started to fell during the Friday’s trading session but got enough support near the 0.7850 level to bounce back to reclaim the 0.70 level. The underperformance of the US dollar against all the major currencies and gold prices will continue to help AUD to rise higher. If the pair breaks above the 0.80 level, then this market will turn very attractive for the long-term perspective. Short-term pullbacks in the market will continue to offer value in this market. …Read More

USD/JPY

The USD continues to be choppy almost through the Friday’s session, hovering just above the 111 level. Given enough time, the market will find enough buyers based on value and will take it forward. The market continues to be noisy as due to the continued US Dollar selling off against most of the currencies. The 111 level continues to offer strong support to the pair and is also 50 percent Fibonacci retracement level. If it further breaks down from here, then it will be a very negative development. …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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