EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 26, 2017

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Published: Oct 26, 2017, 07:11 UTC

EUR/USD The pair initially went in a sideways direction during the Wednesday's session but gained enough strength to go above the 1.18 level in the later

Forex Trading Signals - October 13, 2017

EUR/USD

The pair initially went in a sideways direction during the Wednesday’s session but gained enough strength to go above the 1.18 level in the later part of the day. This is evidently a bullish move and the market from here is expected to continue the uptrend. Longer term outlook for this market overall positive probably going towards the 1.20 level. If the market breaks below the 1.17 level then it will be very negative for the market and would be an excellent selling opportunity. …Read More

GBP/USD

The pair shot higher during the Wednesday’s session slamming into the 1.3250 level. This bullish move is due to the better than expected CPI data coming out from the UK which also raises hopes for an early rate cut in the UK. Lately, this market is generating a lot of interest among traders with its movement around the crucial support zone. In the longer term, the market looks to continue the uptrend with 1.3650 as the target level. Going ahead this market will be volatile as a lot of noise going around the Fed’s rate hike decision and US Dollar movement. …Read More

AUD/USD

The AUD rolled down significantly in the Wednesday’s trade session slicing through the important psychological 0.7750 level. This level has been the major support area in the past and now it is below this level, the market will be quite bearish. Any rally will be a selling opportunity with the next logical support level at 0.75. This market needs a positive trigger to break this bearish trend. The market needs to closely follow the movement in gold prices and Fed’s action on the rate hike for further direction. …Read More

USD/JPY

The market tried to rally during the Wednesday’s session but the area above the 114.25 level was quite resistive to roll down below the open levels. The market is expected to face a significant amount of resistance going higher towards the 115 level. Any pullback in this market will be an excellent buying opportunity. Going ahead, a break above the 115 level will be very bullish for the market and will continue much higher towards the 118 and 120 levels in the long term. …Read More

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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.