Advertisement
Advertisement
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 3, 2018
By:
EUR/USD The pair initially tried to rally during the trading session on Thursday reaching the 1.21 level but then found enough resistance around that
EUR/USD
The pair initially tried to rally during the trading session on Thursday reaching the 1.21 level but then found enough resistance around that level to pull back a little. The 1.20 level will continue to act as a floor in the market and if it breaks from here then the market could go much lower towards the 1.19 level which is the next support area for the pair. The long-term outlook for the market remains positive and the weak dollar is also supporting the rally and a break above 1.21 level will then be a buy and hold scenario. …Read More
GBP/USD
The pair continued to trade volatile during the Tuesday’s session initially moving sideways but then rallied significantly. The market is now looking for the 1.3650 level which is very significant, because of the area where it gapped lower after the surprise vote of Brexit. A break above this area will be very bullish for the market and will send the pair towards the 1.40 level in the long term. The softening of the dollar is also supporting the rally with 1.35 level underneath is going to be massively supportive. …Read More
AUD/USD
The AUD dropped a little during the Tuesday’s session as the volume started to pick up on the market after the holiday season. The 0.78 level is going to be difficult for the market to cross as it is massively resistive. The overall attitude of the market is positive as weak dollar and support from gold prices will help this market to probably look towards the 0.80 level. The 0.7750 level underneath is the immediate support and if the pair breaks above the 0.80 level, then it will be a buy and hold situation. …Read More
USD/JPY
The significantly weak dollar hammered the pair down during the Tuesday’s session, reaching towards the 112 level. This has been an important area in the past as well more than once and it’s likely that buyers will pick up from here after a brief period of slow volume. The next couple of sessions will be volatile as due to the announcement of US non-farm payroll numbers which has a significant weight on the market. A drop below 112 level will send this market towards the 111 level which is also a major support zone. …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.
Advertisement