EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 8, 2018

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Published: Jan 8, 2018, 08:10 UTC

EUR/USD The market was much choppy during the Friday's session trading with slight negative biases. Meanwhile, the US nonfarm job growth during December

Forex Trading Signals - December 20, 2017

EUR/USD

The market was much choppy during the Friday’s session trading with slight negative biases. Meanwhile, the US nonfarm job growth during December missed the estimates and market will eventually find reasons to go higher in the short term. The 1.20 level underneath will act as a floor of this market and pullbacks will remain a buying opportunity. The 1.21 level above will be the initial target as it has been resistive in the past. The longer-term weekly chart indicates the bullish sentiment to continue with a target of 1.32 level. …Read More

GBP/USD

The pair initially went lower during the Friday’s session but once the job data numbers from the US hit the market, the pair pulled back towards the 1.35 level. The market will be quite volatile as it goes ahead due to the massively resistive 1.3650 level which has been an important level since the surprise Brexit announcement. Once the market clears above the 1.3650 level, then it could reach the 1.40 level without much difficulty. …Read More

AUD/USD

The AUD dollar initially went lower during the Friday’s session but found support at the one-hour upside trend line to pull back from there and also lower growth in US job market supported the rally. The market will continue to struggle to go higher as the 0.80 level is massively resistive and its importance going back decades. The pair has strong support around the 0.78 level and if the market clears the 0.80 level then it will be a buy and hold scenario for the traders. …Read More

USD/JPY

The pair rallied during the Friday’s session both before and after the US job growth data which missed the estimates. The buyers came back around 113 level to pull this market higher towards the 114 level. Going ahead, the pair will trade volatile because of the softening of dollar price and also the massive resistance above the 114.50 level extending up to 115 level. The pair has a strong support zone around the 113 and 112 level underneath. …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.