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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 10, 2018

By:
Colin First
Published: May 10, 2018, 09:48 UTC

EUR/USD The pair started the Wednesday's session with a positive momentum reaching higher towards the 1.19 level but as soon the Americans got into the

EUR/USD Regular Bullish Divergence in 4h Timeframe

EUR/USD

The pair started the Wednesday’s session with a positive momentum reaching higher towards the 1.19 level but as soon the Americans got into the play, found plenty of selling pressure to break lower. The 1.19 level has been an important level in the past and has been both support and resistance. Going ahead, the market is likely to attract sellers on every rally and pull this market further down. …Read More

GBP/USD

The British Pound rallied towards the 1.3650 level during the yesterday’s session as it bounced from the uptrend line that is providing a bit of support. Going ahead, the 1.3650 level is going to be a major resistance point and will be difficult to cross above. If it manages to cross above then next major resistance will be around the 1.38 level. …Read More

AUD/USD

The AUD rallied significantly during the yesterday’s session reaching towards the 0.7460 level, the area which has been resistive in the Tuesday’s session also. The 0.75 level above is going to be significantly resistive and is a psychologically important level. The market will continue to remain noisy with 0.74 level underneath is the immediate support for this pair. …Read More

USD/JPY

The US dollar rallied significantly during the yesterday’s session breaking the 109.80 level above and reaching 110 level. The strength in the dollar is likely to continue and is likely to send this market much higher perhaps towards the 112 level and 114 level eventually. The 109 level underneath will act as a strong support and is unlikely to be broken. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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