EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 18, 2018

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Published: Jan 18, 2018, 07:33 UTC

EUR/USD The pair initially tried to rally higher during the Wednesday's session but then broke down towards the 1.22 level underneath as it faced

Forex Trading Signals - January 11, 2018

EUR/USD

The pair initially tried to rally higher during the Wednesday’s session but then broke down towards the 1.22 level underneath as it faced resistance at the top. The market is likely to be in a back and forth movement before it attempts to make a fresh new high above 1.25 level as it is going to be difficult for the market. The pair has important support at the 1.21 level underneath which will support this market to go higher. …Read More

GBP/USD

The British pound consolidated against the US dollar in yesterday’s session in what we can call it as a momentum-building exercise. Given enough time, the market is expected to break above the 1.40 level, which is a psychologically significant handle. The 1.3650 level underneath continues to offer support and until it breaks below 1.35 level, the market will find enough bullish pressure to continue going higher. …Read More

AUD/USD

The pair went in a back and forth direction during the yesterday’s session as the 0.80 level is providing resistance. The pair is likely to be choppy until it breaks above the 0.80 level. In the meantime, short-term pullbacks will continue to offer value and will find enough support near the 0.7950 level and 0.79 level. The gold prices and USD will have a huge influence in the AUD movement in the near future. …Read More

USD/JPY

The USD initially fell during the Wednesday’s session but got a bounce from the lower level as the 61.8% Fibonacci Scale is causing traders to go for a long position. Lately, this pair has taken a quite a beating due to the weak dollar and due to this buyers are getting attracted towards this market. If it breaks above the 111 level, then it will be positive for the market and if it fails to breaks above and falls below 110 hande then it could send the market down towards the 108 level. …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.