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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 28, 2017

By:
Colin First
Published: Jul 28, 2017, 10:01 UTC

EUR/USD The pair tried to go higher initially but selling pressure on the pair came soon and wiped out most of the gains it had on Wednesday. Resistance

Forex

EUR/USD

The pair tried to go higher initially but selling pressure on the pair came soon and wiped out most of the gains it had on Wednesday. Resistance in crossing the 1.17 handle is a weak signal but not before we go below the support level of 1.16 handle. Longer term charts indicate of the pair going forward to 1.1850 level. It is better to watch out for the direction in next few trading session before jumping into the market with new positions. …Read More

GBP/USD

The pair continued its bullish trend on Thursday’s trade but went down significantly in the later part of the day on profit booking. But, this massive sell off is quite uncomfortable for traders who were looking to go long. We have good support near the 1.30 handle and from where buying will come in. One should avoid “Buying Dips” and wait for the clear signal in the direction of the market. …Read More

AUD/USD

The pair crossed over the 0.80 handle but found enough resistance around the 0.8050 and turned around to fall below 0.80 level. The pair’s previous resistance of 0.7975 is acting as a support level. The market is bullish overall due to softness in dollar and bullish gold. If the prices cross beyond the 0.8650 level then next target will be 0.81 and 0.82 eventually. …Read More

USD/JPY

The pair initially fell towards the 110.80 level to turn around and close above the 111 level which is a positive signal. The market is trying to cover the losses it had in the previous session and due to dovish FOMC statement. The market remains volatile and until it breaks above the 112.50 handle, we will see a lot of selling pressure around based upon the US dollar. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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