EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 9, 2018

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Published: May 9, 2018, 09:26 UTC

EUR/USD The Euro continued its downward trend in the Tuesday's session reaching down towards the 1.1850 level as US Dollar continued to strengthen on the

EUR/USD

The Euro continued its downward trend in the Tuesday’s session reaching down towards the 1.1850 level as US Dollar continued to strengthen on the back of rising rates and banks are also looking forward to tightening its rate structure. Also, central banks of other nations have suggested that it will continue with the low rate regime giving further momentum to the downward slide. The pair has important and massive support at the 1.15 level underneath. …Read More

GBP/USD

The British Pound continued its negative momentum during the Tuesday’s session reaching lower testing the 1.35 level for support. The market is likely to break further given the strength in the US Dollar and next major support is at 1.33 region. The 1.3650 level on the top is massively resistive and will be very difficult for the market to cross above. …Read More

AUD/USD

The AUD turned extremely negative during the yesterday’s session slicing through the 0.75 level and reached 0.7450 level. It is likely that market will continue to go further lower perhaps reaching the 0.73 level or even lower in next few sessions. Every rally in this market will attract sellers into the market and will hammer the pair further lower. …Read More

USD/JPY

The US dollar bounced around the 109 level during the Tuesday’s session and is acting as a support in the current market conditions. The pair is likely to move higher from here and once it breaks above the 109.40 level then it will likely to go towards the 110.50 level in next few sessions. …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.