EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 19, 2017

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Published: May 19, 2017, 07:51 UTC

EUR/USD The pair corrected lower yesterday by about 100 pips as some positive news from the political circles in the US helped the dollar to gain some

EUR/USD

The pair corrected lower yesterday by about 100 pips as some positive news from the political circles in the US helped the dollar to gain some respect across the board yesterday. But the uptrend is still intact in this pair and we should see another visit to the range highs pretty soon. …Read More

GBP/USD

The pair had a flash crash yesterday when the pair fell by about 100 pips within a matter of a few seconds, undoing all the good work that had gone in to pushing the pair above 1.3000 during the course of the day yesterday. This flash crash pushed the pair below 1.29 again which makes it vulnerable as we head towards the end of the week. …Read More

AUD/USD

The pair had a choppy session of trading yesterday as the pair initially rallied higher and then corrected towards the US session and it came back to the 0.74 region once again. This region has served as support for the past few sessions and this kind of choppy trading has only served to confuse the short term direction. …Read More

USD/JPY

The pair had a very volatile session yesterday as the market first crashed and the recovered late in the day. If the pair moves higher through 111.5 during today, then we should move towards 112. This is not a market for shorting and so it is better to wait for correction and get in on the longs. …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.