EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 17, 2018

Colin First
EUR/USD daily chart, May 17, 2018
Money

EUR/USD

The pair fell again on Wednesday’s session slicing through the 1.18 level as the interest rate differentials continue to have a major influence in this market. The market from here is likely to weaken further possibly reaching the 1.15 underneath in the medium term. If this market stages a breakout above 1.1850 level, then the current bearish momentum is likely to reverse. …Read More

GBP/USD

The British Pound was weak all through the Wednesday’s session reaching down towards the 1.3450 level which is offering a bit of support. A break below 1.34 level will further send this market lower, likely towards the 1.33 level and 1.30 level in the near term. Going ahead, the market is likely to remain volatile and with selling pressure to continue. …Read More

AUD/USD

The AUD rallied during the yesterday’s session breaking above the 0.75 level but it is likely that the market will turn around once again to move further lower. The 0.75 level will continue to attract a lot of trader’s interest and the market will witness consolidation around these levels. The 0.73 level underneath will continue to be the next major support for this market. …Read More

USD/JPY

The USD cooled down a bit against the JPY during the yesterday’s session finding support at important 110 level. The market in the near term is likely to remain bullish with immediate target at 112.50 level on the back of strong dollar due to wide interest rate differential between the two economies. …Read More

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