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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 27, 2017
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EUR/USD The market crashed in Thursday's session going below the important 1.17 level after the press conference in which ECB chairman Mario Draghi
EUR/USD
The market crashed in Thursday’s session going below the important 1.17 level after the press conference in which ECB chairman Mario Draghi sounded considerably dovish. Right now, this market is quite oversold and expected to get a bounce. If the market falls below the 1.1650 level then it will move towards the 1.15 level and then 1.13 level. This market will be under a lot of pressure due to the event yesterday and due to the hawkish stance of Federal Reserve. …Read More
GBP/USD
The market initially rallied a bit on Thursday but turned back significantly as US Dollar started to gain strength as the day went ahead. The 1.31 level is the most important level for this market and buyers will get attracted around this general vicinity. Going ahead, this market will be difficult as both Federal Reserve and Bank of England are considering an early rate hike which will trigger large-scale volatility. Overall this market will remain positive and 1.3650 will be the real target in the long term. …Read More
AUD/USD
The AUD had a very volatile session against USD in the yesterday’s session trying to rally a couple of times but rolled back every time. This market now has entered the weak patch and from here it will be difficult to go higher. Sell on rallies will be the play of this market with 0.7750 level above acting as a ceiling. With the absence of any major trigger, this market is likely to reach towards the 0.75 level which has lot of structural support. …Read More
USD/JPY
The market was mostly positive during most part of the Thursday’s session trying to go higher towards the 114 level. The pair has a strong support near the 113.30 level from where it getting enough amount of buying interest. If the pair break above the long-term consolidation level then, the market will go much higher towards the 115 and 118 level eventually. This market will witness a lot of action as it is very sensitive to the global macro environment and also due to Federal Reserve’s interest rate management with next chairman. …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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