EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 24, 2017

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Published: Jul 24, 2017, 08:31 UTC

EUR/USD The pair went higher on Fridays' trade after moving initially in a sideways direction. The pair is still moving strong and is trading in 2 years

EUR/USD

The pair went higher on Fridays’ trade after moving initially in a sideways direction. The pair is still moving strong and is trading in 2 years high level. It has a resistance level of 1.1650 level. Any pullback will provide a good opportunity to go for long position. No support for the dollar will take the pair to 1.17 level in short term with 1.15 level acting a support. …Read More

GBP/USD

The pair closed flat on Friday’s session after initially rallying but enough resistance near 1.30 level brought the prices down. The 1.28 level is strong support level and a lot of pullbacks will happen in the market. There are a lot of complex issues regarding Brexit that needs to be addressed and the market will be volatile in short term duration. If the market breaks below 1.28 level, it will go much lower. …Read More

AUD/USD

The pair fell on Friday’s trade session after going strong for a couple of days. The pair managed to close above the 0.79 level which signifies strong momentum for the 0.80 level. The market is trying to gain some momentum before crossing the 0.80 level. There will be some amount of volatility in short term duration with support closer to 0.780 level. …Read More

USD/JPY

The pair witnessed a big fall during the Friday’s session going below the psychological level of 111.50. With this kind of weakness in the market, we expect a strong support anywhere near the 110 level. The market still looks negative and continue to be bearish in next couple of days. Any fall below the 109 level will trigger more weakness in the market. …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.