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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 14, 2017
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EUR/USD The pair initially went downwards during the Friday's session but shot up impulsively during the American session. The consolidation in the market
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EUR/USD
The pair initially went downwards during the Friday’s session but shot up impulsively during the American session. The consolidation in the market in the past few trading sessions has helped the pair to make a base in the market. The pair is massively supportive at 1.17 level underneath and it will be difficult to go down below. Buying in the dip is the best way to play this market which is bullish in the long term perspective. …Read More
GBP/USD
The market went back and forth movement during the day on Friday, testing the 1.30 level but unable to break above. The growing tension between the US and North Korea will fuel more volatility in the market and because of this market will stay in overall consolidation. Looking ahead, if we break below the Friday’s low point, the market will go below towards 1.2850 and alternately, if it breaks above the 1.3050 handle, it will attempt for the 1.32 level. Given, so much noise in the market it is difficult to have a clear picture of the future trend. …Read More
AUD/USD
The AUD had a very volatile session in Friday’s trade, initially went lower to make fresh low and bounced back from there towards 0.79 level. The market is somewhat trying to make a long term support in the lower levels. If we can break above the 0.79 handle successfully, then the market can go towards 0.80 level above. But, the volatility in the market is not supporting the market, with high gold prices, has not translated in stronger AUD. It’s the market to trade with caution, with a target of 0.7750 level underneath in the short term. …Read More
USD/JPY
The market on Friday was too volatile and the pair is getting all the attention to go below towards 109 level. The pair has been most volatile amongst all major currency pairs due to the growing tension in Korean Peninsula. Looking forwards, the market will continue to be in this mode and 105 level is looking possible. If the market breaks above the 110 level, then we may see some amount of strength in the market. Given enough time, the market will offer a very good return in long term horizon. …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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