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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 30, 2017
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EUR/USD The pair started on a positive momentum on Tuesday's session, breaking above the key 1.20 level. Based on the large consolidation area which the
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EUR/USD
The pair started on a positive momentum on Tuesday’s session, breaking above the key 1.20 level. Based on the large consolidation area which the pair has successfully broken, the market is looking forward to the 1.25 level in the long term. Any short term pullback in the market will be a good buying opportunity and also a way to beat volatility in the market. Overall the long term trend is positive and any trend reversal in the market needs to be accompanied by strong selling momentum towards the 1.15 level and below. …Read More
GBP/USD
The pair started on a bullish trend initially towards the 1.30 level but given the resistance around the level, the pair turned around and fall again. Overall the sentiment of the market is weak and we may see sellers taking over to drive it lower. The move below 1.29 level will trigger significant weakness in the market and a break above the 1.3050 level will see fresh buying coming into the market. …Read More
AUD/USD
The AUD initially fell in reaction to the North Korea’s missile test over Japan but the rally in the gold market helped the AUD to go higher towards the 0.80 level on Tuesday’s session. The turn around from the lower levels is a significant bullish trend and signals of the market eyeing the crucial 0.80 level which has significant importance going back decades. Looking ahead, it is important to follow the price movement in gold for determining the trend in the AUD as it needs some sort of confirmation to break above the region. …Read More
USD/JPY
The market turned volatile as the Geo political tension over Korean peninsula escalated. The pair fell significantly during the Tuesday’s session towards the 108.50 level. The 108.50 level will provide significant interest among the buyers as the market has stayed above the level for some time in the consolidation phase we had seen. If the pair makes a lower low on Wednesday’s session, then the market may break down towards the 105 level. …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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