EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 25, 2017

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Published: May 25, 2017, 08:12 UTC

EUR/USD The plan continued to move higher as the dollar weakened across the board following the FOMC minutes which was neither positive nor negative for

EUR/USD

The plan continued to move higher as the dollar weakened across the board following the FOMC minutes which was neither positive nor negative for the dollar. The market had expected the minutes to be more hawkish and paint a positive note on the economy but the lack of anything supportive about the economy led to the dollar going on the backfoot as the traders began selling the dollar. …Read More

GBP/USD

The pair tried to rally intially through the 1.30 region and again, as has been the norm over the past couple of weeks, it failed in the 1.3030 region and then began to correct itself as the dollar began to strengthen across the board. This correction carried the pair towards the 1.2930 region before a bounce , brought in by a dovish FOMC minutes, saved the day for the bulls. …Read More

AUD/USD

The pair has been seeing a massive amount of choppiness of late and yesterday was no exception to that as the pair first moved down, then up and then down again for the day. The problems in China and the prices of gold have been dominating the movements of the Aussie in the recent days and this is set to continue in the short term. …Read More

USD/JPY

The pair continued to trade quietly as the resistance in the 112 region held back the moves in the pair and we see a lot more resistance happening in the region just above as well. So, we expect some more consolidation and ranging in this region for the short 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.