EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 22, 2018

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Published: May 22, 2018, 08:14 UTC

EUR/USD The market started off the week with a positive momentum bouncing higher from the 1.17 level which offered enough psychological support. The 1.18

EUR/USD

The market started off the week with a positive momentum bouncing higher from the 1.17 level which offered enough psychological support. The 1.18 level on the top is an important psychological resistance and market can witness some selling pressure from there. Going forward, the market is looking to remain weak with long-term support line continues to be around 1.15 level. …Read More

GBP/USD

The British Pound initially fell lower during the Monday’s session reaching down towards the 1.34 level but got enough buying pressure there to move higher a bit. The market has strong resistance around the 1.35 level and 1.3550 level until it breaks above these level, selling pressure to continue. The 1.33 and 1.30 level underneath is going to be the strong support area for the market. …Read More

AUD/USD

The market started off with a bullish start in the Monday’s session reaching as high as 0.7550 level. If the market can break above its fresh new high in next few sessions, the market will continue to move higher probably towards the 0.76 level. But it is likely that market will continue to favour dollar and could reach 0.7350 level in short to medium term. …Read More

USD/JPY

The USD rallied a bit during the Monday’s session slicing through the 111 level, reaching as high as 111.40 level only to pull back a little. The overall market continues to remain strong as it will be supported by wide interest rate differential between the two economies. In the long term, the market is likely to move higher reaching higher towards the 112.50 and 115 level eventually. …Read More

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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.