EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 2, 2018

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Published: Jan 2, 2018, 07:07 UTC

EUR/USD The US dollar was significantly weakened during the Friday's session which helped the Euro to gain and break above the 1.20 handle. The pair is

EUR/USD

The US dollar was significantly weakened during the Friday’s session which helped the Euro to gain and break above the 1.20 handle. The pair is now getting a support around that level and the market is now looking forward reach the 1.21 level. If the pair sustains this bullish trend, then the market will open up the door towards the 1.25 level in the long-term horizon and if it breaks below the 1.1950 level then the market should fall significantly. The next few days will be quite volatile for the market as the volume pick up after the holidays. …Read More

GBP/USD

The pair rallied significantly during the Friday’s session reaching the 1.35 level which is an important psychologically significant number. The pair is now looking to reach the next major barrier of 1.3650 level which also the region of gap down during the Brexit announcement. If the pair successfully crosses this level, then the long-term target will be at 1.50 level. Any dips from here will be a nice buying opportunity for the market with immediate support around at 1.3450 level and 1.333 level underneath will act as a floor of this market. …Read More

AUD/USD

The AUD rallied during the Friday’s session reaching towards the 0.7825 level but pulled back slightly at the end of the session. Weak dollar and support from gold prices are taking the market higher and any dips in the market will attract buyers. The 0.77 level underneath will offer significant support to the pair and the 0.80 level above will be a major pivot point for the market as its importance goes back to several decades. …Read More

USD/JPY

The significantly weak dollar helped the pair to reach the 112.50 level underneath during the Friday’s session but also experienced a support around that zone which lead to a slight bounce. Going forward, the market will be quite volatile in the next few session as the volume picks up after the holidays and also the job number coming later during the week. A break above 113 level will be seen as a bullish trend for the market and 112 level underneath will be quite supportive. …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.