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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 4, 2017
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EUR/USD The market carried forward its upward momentum during the day but lacks momentum to go forward in the upper region. The pair is susceptible to
EUR/USD
The market carried forward its upward momentum during the day but lacks momentum to go forward in the upper region. The pair is susceptible to profit booking in the near future. The Job numbers from the US which will come during the day will create some amount of noise in the market. The market is still going strong and short term downfall in the market will help the market to gain momentum to go upside towards 1.20. The 1.15 level still provides a strong support base to the pair. …Read More
GBP/USD
The markets felt the jitters as soon the Bank of England signalled of interest rate hike anytime soon to fight the inflation. The pair fell significantly wiping out the gain of last 3 sessions. The job numbers from the US will keep the market choppy. For now, the market seems to go lower towards the 1.30 handle and 1.32 level acting as a ceiling. It is best to wait for the markets to settle around before getting into new positions. …Read More
AUD/USD
The market opened lower in Thursday’s trade towards the 0.79 level but found enough support around the key level. Yesterday’s selloff seems to be in the process of building momentum to break the 0.80 level. The overall market needs support from the gold prices and some type of selloff in the US dollar.Till the market clears the hurdle of 0.80 level, it is better to wait for some time to get the direction of the trend. …Read More
USD/JPY
The pair had a rough run in Thursday’s session crashing into the 110 level. The market is continuing to sell the dollar. If we break below the psychological and structural level of 110 then the market will be in a bearish trend looking down to its next support level of 109. Today’s job data will influence the market to fix its direction. As the Bulls are away from the market and volatility will continue to hammer the pair. …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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