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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 23, 2017
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EUR/USD The pair broke down significantly lower towards the 1.1775 level during Friday's session as Fed is turning hawkish going into the future which
EUR/USD
The pair broke down significantly lower towards the 1.1775 level during Friday’s session as Fed is turning hawkish going into the future which will lead to the strengthening of US dollar. The pair has a strong support at the 1.17 handle and market has also given an upside breakout earlier from this level. Overall, the market is fairly positive and is looking towards the 1.1850 level. And, if the market breaks below this level then 1.15 level will be the next support for the market. …Read More
GBP/USD
The market was volatile during the Friday’s session initially falling towards the 1.31 level to test the support and then rallied towards the 1.32 level and above in the later part of the day. The bullish pressure in the counter is likely to continue as the Bank of England is looking forward with the rate hike move. Buying on dips will be the favourable strategy for this market into the future with small incremental gains. Markets will be voaltile as US dollar is also gaining strength with hawkish outlook coming from Fed. …Read More
AUD/USD
The AUD broke down significantly against the USD in the Friday’s session towards the 0.7750 level indicating of continued weakness in the counter. The hawkish outlook from Fed on interest rate hike is supporting the dollar and helping it to gain momentum. The gold market also suffers eventually and going forward market will be under “sell on rallies” strategy if it fails to make positive movement on the higher side. …Read More
USD/JPY
The pair witnessed a bullish push in the Friday’s session towards the 113 level and above as all the finalist for the Federal Reserve Chairman’s post all seem to be hawkish. This will help the market to favour the US dollar and any dips in this market will be an excellent buying opportunity. If the pair successfully breaks above the 114.50 level, then longer-term horizon of the market will be positive and 118 will be the target. …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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