EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 14, 2017

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Published: Jul 14, 2017, 09:45 UTC

EUR/USD The pair traded with volatility in Thursday's session moving in a range bound manner for the last few days. The two days of testimony before the

EUR/USD

The pair traded with volatility in Thursday’s session moving in a range bound manner for the last few days. The two days of testimony before the US Congress by Jannet Yellen ended in disappointment among traders for her dovish view on interest rate hike. In today’s trade, we have two important pieces of economic data from the US, CPI and Retail Sales data coming out. It will be watched whether the recovery in employment data leads to recovery of the CPI and Retail Sales data which can lift the dollar index give direction to the pair. …Read More

GBP/USD

The pair rallied yesterday and continued to move higher, indicating an uptrend. With no major economic news or headlines coming up for the United Kingdom, the pair looks to show a bullish trend for now. The dollar weakened after Fed Chair Yellen’s speech and due to this, the pair strengthened in the markets. …Read More

AUD/USD

The pair rallied during the Thursday’s session as we reached the 0.7750 level its resistance zone. The support is coming from the increase in Gold prices on account of the weak dollar due to dovish stand on rate hike by Fed. If the pair breaks and closes above the 0.7750 level, there is a clear signal of a breakout in the market and in the long-term, the trend will be bullish. …Read More

USD/JPY

The pair saw a bit of upward movement after testing the 113 level in a volatile session on Thursday. Once it clears the 113.50 level, the next target will be 114.5. There is a bullish pressure in the market and if the pair breaks its resistance level of 115, then it will be long-term “Buy and Hold” situation. It is expected that the market will continue to be volatile and difficult for most of the traders. …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.