EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 18, 2018

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Published: May 18, 2018, 09:21 UTC

EUR/USD The pair drifted slightly lower during the Thursday's session as it is witnessing some stability after experiencing a steep decline in previous

EUR/USD

The pair drifted slightly lower during the Thursday’s session as it is witnessing some stability after experiencing a steep decline in previous two sessions. The 1.18 level on the top will be very resistive and will be difficult for the market to cross above. The 1.1750 level underneath will be offering immediate support to the market with major support at 1.15 level. …Read More

GBP/USD

The British Pound had been volatile during the yesterday’s session moving down to test the upward trend line for support. If the market breaks down this level, then it will be a negative development and will move further lower towards the 1.33 level. The 1.30 level underneath is the floor of this market. The market needs to break above the 1.3650 level in order to continue higher. …Read More

AUD/USD

The AUD continued to remain volatile during the yesterday’s session reaching the 0.75 level underneath which is offering a bit of support. The market is likely to remain weak on the back of rising dollar and once it breaks the 0.75 level, the market will start moving towards its next major support at 0.7350 level. …Read More

USD/JPY

The USD exploded higher during the yesterday’s session reaching higher towards the 111 level and above. The 110 level underneath continues to offer strong support and any pullback in the short term will offer value in the market. The wide interest rate differential will tend to favour this market and will keep the market positive. …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.