EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 24, 2017

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Published: May 24, 2017, 08:28 UTC

EUR/USD The pair has corrected over the last 24 hours as the dollar strength returned to the markets on the back of some positive news as the market

EUR/USD

The pair has corrected over the last 24 hours as the dollar strength returned to the markets on the back of some positive news as the market shifts its attention to the Fed. The dollar had been laid weak over the last few days as the focus was firmly on the politics in the US but with the attention now on the FOMC minutes and the rate hike in June, we are seeing the dollar gain strength. …Read More

GBP/USD

The pair found some momentum early in the day yesterday which helped to push it through the 1.30 region and towards its range highs but the move did not last as there was too much selling in the 1.3050 region. Unless the bulls are able to break through this region in the short term, we wont be able to see much progress beyond this point. …Read More

AUD/USD

It had a very volatile day of trading yesterday as the pair broke through the 0.75 but had to turn back due to heavy selling and this led to the pair moving back through the 0.75 region by the end of the session. Longer term, the pair is still in a downtrend and is likely to follow the prices of gold and other commodities. …Read More

USD/JPY

The pair started the day pretty quiet but found some strong support in the 111 region which has helped it to push higher and so far, the yen looks weak and the dollar seems to be gaining in strength which has helped to push it even higher. …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.