EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 9, 2018

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Published: Jan 9, 2018, 09:52 UTC

EUR/USD The pair rolled over a bit during the Monday's session and has broken the 1.20 level underneath. The 1.19 level is going to provide a strong

EUR/USD

The pair rolled over a bit during the Monday’s session and has broken the 1.20 level underneath. The 1.19 level is going to provide a strong support to the pair even if it continues to go lower. Overall, the positive sentiment in the market is still intact and any pullback will offer value. The bullish flag on the weekly chart that has been broken recently to the upside that is suggesting a 1.32 level in the long-term period. …Read More

GBP/USD

The pair initially rolled over a bit during the trading session on Monday and found enough support near the 1.35 level to bounce slightly. It is expected that the market will find enough buyers to push it higher towards the 1.36 level. In general, this pair will continue to be very noisy due to the political developments in the country and also due to Brexit. If the pair breaks below the 1.35 level then next support level will be around 1.33 level. …Read More

AUD/USD

The pair broke the upside momentum on Monday, which it has gained in the last several sessions and now it is looking to reach towards the 0.78 level underneath and perhaps even 0.7750 level. The general trend in the pair is largely dominated by the price movement in the gold market which was little lacklustre in yesterday’s session. If the pair goes below the 0.77 level then it will a very negative development for the market. …Read More

USD/JPY

The pair initially rallied during the Monday’s session to reach the 113.40 level but turned around and broken below the 113 level. This level has been very important in the past and now it has been broken, the pair is likely to move towards the 112 level. Lower than estimated job growth in the US during December is hurting the dollar which tends to make this market volatile. …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.