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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 5, 2017

By:

Colin First

Published: Jul 5, 2017, 07:29 GMT+00:00

EUR/USD The pair went back and forth initially before settling for some support underneath. Overall, the pair continued to fall as the dollar began to

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EUR/USD

The pair went back and forth initially before settling for some support underneath. Overall, the pair continued to fall as the dollar began to recover across the board. Little action could be seen with respect to the US dollar yesterday due to the Independence Day holiday. However, the dollar remained firm and steady despite the holiday and continued to capture the market’s attention. …Read More

GBP/USD

The market continued to show volatility with the pair moving sideways yesterday. Despite the bank holiday in the U.S, the pound was seen to fall significantly against the dollar. The markets are expected to react to the Minutes of the Federal Open Market Committee later in the day. Some buying of the dollar is expected to be seen today. …Read More

AUD/USD

The pair went back and forth initially before showing some signs of support. With a weakening gold markets, a huge sell-off for the pair could be seen in the markets. The market looks very negative with the pair going weaker day by day. If there is a breakdown below the current levels, then the pair might face a large fall. …Read More

USD/JPY

The pair dropped suddenly before making an upside move yesterday. The pair is expected to move towards a higher range in the longer term. Traders should pay close attention to the FOMC Meeting Minutes close to the end of the day. A hawkish tone is expected in the minutes which will push the pair to the upside in the near term. …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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