EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 29, 2018
The pair continued to be very volatile on Friday and bounced just below the 1.25 level with 1.24 level offering bit of support. If this market manages to break above the 1.25 level then it will continue to go higher towards the 1.30 level and 1.32 level eventually based on the bullish flag it made on the weekly chart. The bullish sentiment in the counter is likely to continue because of the continued weakness. The market breaking down is very unlikely and dips will provide right opportunity to enter the market. …Read More
The British pound was volatile during the Friday’s session but was able to maintain the 1.40 level which is a psychologically significant level and would attract buyers into the market. As the US dollar is underperforming against most of the currency, this pair will also find buyers to take it higher. The longer-term target of the market remains at the 1.45 and 1.50 level. This pair is very well supported up to the 1.35 level and will attract buyers at every stage. …Read More
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
The AUD is the biggest beneficiary in the ongoing weakness in the US dollar as it gained enough momentum to cross above the historically significant 0.80 level. The market is now well supported at this level and is likely to continue reaching higher towards the 0.85 level and then 0.90 level in the long term. The dips will attract more buyers into this market as the greenback suffers. …Read More
The pair is going through a lot of negative news and is continuously falling downward. On Friday’s session, the pair broke below the 108.50 level and is now looking towards the 107.50 level or even lower. Short-term rallies in the market will be a good selling opportunity. The weakness in the US dollar is likely to continue because of lack of any positive trigger in the market. …Read More