EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 26, 2017

By:

Updated: Jul 26, 2017, 08:55 UTC

EUR/USD The pair tried to rally past the 1.17 level but found enough resistance to fall back during the day. The market is looking for the 1.1850 level in

EUR/USD

The pair tried to rally past the 1.17 level but found enough resistance to fall back during the day. The market is looking for the 1.1850 level in long term and it will find strong support around the 1.15 level which it broke after 2 years of consolidation. FOMC statement from the US which will be released today has been creating lot speculation in the market. Any downward movement in the market is a small blip and it continues to be strong in long term. …Read More

GBP/USD

The pair went in the sideways direction initially but rallied in the later part of the day. The market is overall bullish and 1.30 level provides a good support. Over long term “Buying Dips” will be the ideal strategy to play in this market. The next target will be 1.31 and higher. The market will be quite volatile and FOMC statement coming out during the day will cause some amount of choppiness in the market. Any breakdown below 1.2925 level will be the sign of weakness in the market and will get it lower. …Read More

AUD/USD

The market continued to consolidate in the Tuesday’s session and waiting for the FOMC statement before any big movement. The AUD is highly leveraged to gold and a dovish statement from FOMC will lead gold markets to surge and AUD simultaneously. The pair will look to break the 0.80 level with greater momentum and will continue to be in the upside region. A breakdown below the 0.75 level will indicate weakness in the market and end of the rally in the market. …Read More

USD/JPY

The pair had a very volatile session on Tuesday’s trade session. The pair went higher after initial fall and made hammer candlestick pattern which is a very bullish sign. The market is looking for FOMC Statement coming out during the session today which will give direction to the market on either side. The market will remain volatile and breakout above 112.5 level will let the market to go higher and target for 114.50 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.