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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 31, 2017
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EUR/USD The pair went higher during the Friday's trade session testing the 1.1750 level maintaining its long term bullish trend. There will be pull backs
EUR/USD
The pair went higher during the Friday’s trade session testing the 1.1750 level maintaining its long term bullish trend. There will be pull backs in the rally from time to time but it should be seen as part of momentum building and opportunity to enter the market. Federal Reserve’s dovish approach in interest rate hike is likely to support the price. The pair will attempt for 1.1850 level without facing any massive correction. …Read More
GBP/USD
The pair initially went on sideways direction but shot up after the American markets went live on Friday. The market is testing the 1.3150 level and above to build the pressure to break above it. Once, the market breaks above the 1.3150 level then the next target will be 1.3450. Buying on Dips is likely to take the market forward and lately, the American traders are more bullish on European currencies which is supporting the market. …Read More
AUD/USD
The pair initially went sideways direction with some amount volatility during the day on Friday. The pair then went above the 0.80 level during close. AUD is regarded as proxy currency for gold traders as Austalia is the largest exporter of gold in the world. The market should continue to go towards the 0.8050 level and 0.8250 level in short term as gold markets will remain bullish for coming days. …Read More
USD/JPY
The pair went into a back and forth movement closing low during the Friday’s session. The market is in range bound movement and is going to find buyers from lower levels of 110.50 and 110 which are good support. Historically, August is the least volatile month of the year as big traders are away on holiday. Weak fundamentals in both economies are affecting the overall movement of 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.
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