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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 28, 2017
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EUR/USD The pair shot higher during the day on Friday, following the Jannet Yellen's dovish commentary on the rate hike. The markets on Friday made a
EUR/USD
The pair shot higher during the day on Friday, following the Jannet Yellen’s dovish commentary on the rate hike. The markets on Friday made a fresh new high and will continue to remain positive with bullish pressure towards the 1.20 level which will be the first resistance barrier. With European Union’s monetary policy is getting close to normalising, which will add a positive bias to the pair. Long term target for the pair will be 1.25 with short term pullbacks will provide a good buying opportunity. …Read More
GBP/USD
The pair trade on a positive bias on Friday’s session breaking above the 1.2850 resistance level. The bullish pressure in the market was a result of Jannet Yellen’s dovish commentary on the rate hike. The market is going to test the 1.29 level from where it is likely to get a bit of selling pressure. The pair will trade with a negative bias on the day’s to come as both the currencies are facing issues. …Read More
AUD/USD
The pair exploded towards the 0.80 level at the end of the session after Jannet Yellen dovish statement keeping the 0.79 as a strong support. However, breaking above the crucial 0.80 level will need strong support from gold and US dollar. And, infact gold price needs to break above the $1300 level, for AUD to rise above. If the pair breaks above the 0.80 level, then it will be a buy and hold situation otherwise it will consolidate with downward pressure given the difficulty it had in breaking the 0.80 level. …Read More
USD/JPY
The market started in a sideways direction but then broke down against the JPY as Jannet Yellen’s dovish commentary in Wyoming. The pair has built a strong resistance zone around the 110 level, which will need significant momentum to break above. On the lower side, it has good support in the 108.50 level. In the next couple of session, the pair is likely to be range bound and likely to bounce with 108.50 as a support. …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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