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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 11, 2017
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EUR/USD The market initially went downside on Thursday towards its support level of 1.17 from where it bounced back. The pair has successfully retained
EUR/USD
The market initially went downside on Thursday towards its support level of 1.17 from where it bounced back. The pair has successfully retained the support level of 1.17 in last two sessions. If the market successfully breaks above the 1.1775 mark then it will go higher towards 1.1820 level and higher. The market is in long term uptrend after we have crossed the long time resistance level of 1.15 and volatility will persist as we go forward. Pullbacks will provide the good opportunity to enter the market for long term. …Read More
GBP/USD
The market initially went lower towards the 1.2950 but bounced back towards 1.30 handle. The market is moving around the 1.30 level from the past two sessions. It is better to wait and watch, as market breaks to give the clear indication of the trend. If the pair successfully breaks above the 1.3050 level, then we can see a rally in the pair and if it breaks below the 1.2950 level, weakness will grip the market. …Read More
AUD/USD
The AUD initially tried to move lower towards the 0.7750 but it managed to get a bounce on Wednesday’s session. Geopolitical tension across Korean peninsula will work against the market and AUD works as a proxy for Asia in the currency market. The recent development is not going to support the AUD to rally against the dollar and will look toward the 0.7750 level underneath, which was previously resistive. …Read More
USD/JPY
As we broke the important psychological support level of 110 in the pair, weakness gripped the market and prices sliced through the 109.50 level on Thursday’s trade session. The market has strong support in the 109 level underneath and it will be watched if it can hold this level firmly. Short term rallies in the pair will be seen as selling opportunities. Unless the pair breaks above the 110.25 handle, buying will elude this market. …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.
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