EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – June 23, 2017

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Published: Jun 23, 2017, 07:26 GMT+00:00

EUR/USD The pair went back and forth initially before beginning to form a topping pattern. With major headlines coming in the first half of the month, the

EUR/USD

The pair went back and forth initially before beginning to form a topping pattern. With major headlines coming in the first half of the month, the markets are skeptical with no specific direction and look forward to the economic news next month. As of now, the pair offers buying areas for traders with support underneath. …Read More

GBP/USD

The pair moved sideways and then slowly started moving up. Theresa May announced the UK’s proposal at an EU summit in Brussels yesterday. This proposal would allow the 3 million migrants of EU who have resided in the UK for five years to get a new UK settled status. With new headlines coming in every now and then, the market is going to be highly volatile in the time ahead. …Read More

AUD/USD

Following the Reserve Bank of Australia’s (RBA) policy meeting and the drop in the U.S oil prices, the pair dropped down and the market has become difficult to trade on in the short term. In the long term, the pair might go higher and indicate areas of resistance. Traders should pay attention to the future course of direction for the other commodities as well. …Read More

USD/JPY

The pair fell down initially and then turned around with support underneath. As this market is often volatile, it may move back and forth for a while. Amidst the volatility, the market has continued to maintain its bullish trend. If the Federal Reserve formulates additional rate hikes this year, then the market is likely to turn positive. …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.