EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 13, 2017

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Published: Jul 13, 2017, 07:06 GMT+00:00

EUR/USD The pair went back and forth initially before dropping down significantly and indicating areas of support. Fed Chair Yellen stated that the Fed

EUR/USD

The pair went back and forth initially before dropping down significantly and indicating areas of support. Fed Chair Yellen stated that the Fed should soon begin trimming the $4.3 trillion balance sheet. Due to this, there was some impact on the markets. It would be best for traders to sit aside and watch how the market goes in the longer term before making any trading decisions. …Read More

GBP/USD

In response to the Fed Chair Janet Yellen’s testimony in front of the Congress, the pair had a volatile session. The pound was already pointing to the downside and due to the tesimony, the US dollar was affected and this in turn affected the pair. Traders should pay close attention to the Brexit negotiations and stick to short-term trading for now. …Read More

AUD/USD

The pair shot up higher yesterday as Janet Yellen testified before the Congress and said that the Fed would raise the interest rates at a slower pace than originally expected. Due to this, the US dollar had an impact and the value of the Australian dollar rose. The gold markets were also up after Yellen’s speech and pushed the Australian dollar to the upside. …Read More

USD/JPY

The pair dropped down significantly after Janet Yellen’s speech in front of the Congress yesterday. She stated that the Fed would increase the interest rates at a gradual pace rather than the market’s expectations. In the longer term, the pair might show an uptrend and traders can expect the market to go higher. …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.