EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 3, 2018

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Published: May 3, 2018, 07:47 UTC

EUR/USD The pair hanged around the 1.20 level during the Wednesday's session as the market is looking forward to the Friday's job number data from the US

Important AUD Pairs’ Technical Overview: 18.04.2018

EUR/USD

The pair hanged around the 1.20 level during the Wednesday’s session as the market is looking forward to the Friday’s job number data from the US which will set the direction of this market. A stronger job data will have a negative effect, as it will drive interest rates higher that will make the dollar more strong. In case of this event, the market will move lower and will reach down towards the 1.18 level. …Read More

GBP/USD

The market moves a little higher during the Tuesday’s session towards the 1.3650 level as this region has been very supportive. The pair is just below the long-term uptrend line which will act as a strong resistance and also until this market crosses the 1.38 handle above, the market will remain weak. In case of sell-off 1.35 handle is the next major support. …Read More

AUD/USD

The pair went back and forth during the Tuesday’s session as it bounced around the 0.75 level. This market is waiting for the Friday’s job data from the US which will determine the direction of this market. The 0.75 level is a very strong support level, but if strong job numbers are reported this market will break away easily and will reach down towards the 0.7350 level. …Read More

USD/JPY

The market was a bit sideways during the Wednesday’s session just below the 110 level which is giving a significant resistance. The market likely to have factored in the recent surge in the rates of US papers and is waiting for more indication from the Friday’s job number announcement. A positive set of a number will send this market wy higher with a target of 112.50 level in the short to medium term. …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.