EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 27, 2017

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Published: Jul 27, 2017, 08:13 UTC

EUR/USD The pair went on a sideways movement during the Wednesday's trade and seems to consolidate between the 1.1625 level and 1.17 level. The mildly

EUR/USD

The pair went on a sideways movement during the Wednesday’s trade and seems to consolidate between the 1.1625 level and 1.17 level. The mildly dovish FOMC statement will lift the market higher and aim for the target 1.1850 levels. Over a couple of days of trading, the market seems to have made 1.15 level a strong support zone and will find buyers from this level if goes down. The trend in the market is positive and “Buying Dips” will be the correct way to play it. …Read More

GBP/USD

The pair traded on a cautious note on Wednesday’s session before the FOMC announcement. It initially went sideways and found 1.30 level to be supportive to push prices upward. Staying above the 1.30 level is providing the momentum in the market to go higher and target for the next level of 1.3125. Traders should not miss the buying opportunities during pull back as markets are fairly bullish. …Read More

AUD/USD

The market seems to be in a range bound movement, finding it difficult to break it. The market has made a good support around 0.7880 and has tested quite a no. of times. On Wednesday’s trade, initially, it fell towards 0.7880 and bounced back to close near the opening level. The FOMC statement which came out late on Wednesday and gold prices will give directions to the pair and to wait for the breakout in the market is the best way to be in the market. …Read More

USD/JPY

The weakness in the pair continued in Wednesday’s session but showed signs of strength and closed flat. The market is clearly waiting for the FOMC outcome and issues like interest rate hike. Stock markets around the world are showing bullish pressure and may give support to the pair. In short term, the market will be choppy and pull back in prices will find support around 111.75 and 111 level. Eventually, in long term, the market will attempt for the 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.