EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 5, 2017

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Published: Oct 5, 2017, 07:26 UTC

EUR/USD The pair started on a positive note in Wednesday's session rallying towards the 1.18 level but got enough resistance to fall back. The pair is

Forex Trading Signals - September 28, 2017

EUR/USD

The pair started on a positive note in Wednesday’s session rallying towards the 1.18 level but got enough resistance to fall back. The pair is getting support at 1.1750 level and is trying to build momentum to go higher. If the pair breaks below this level then the market will get its next support at 1.17 level and a break above 1.18 level will help the market to reach towards the 1.20 level given enough time. Buying on dips will be the right strategy to play this market. …Read More

GBP/USD

The British Pound rose slightly during the day on Wednesday testing the key resistance level of 1.33. If the pair successfully breaks above this zone then the market will probably look forward to the 1.35 level. The British pound is expected to get support from the lower levels as rate hike scheduled later this year by Bank of England is seen as positive for the market. Till the market stays above the breakout level of 1.32, buying will continue in the market. …Read More

AUD/USD

The AUD went higher during the day on Wednesday towards the 0.7870 level but then pulled back slightly. Yesterday’s rally in the market is expected bring in buyers as the market has made a good support at the 0.78 level. If the gold prices rallies during the period then it will send this market higher towards the 0.79 level and 0.80 level eventually. …Read More

USD/JPY

The pair initially fell lower on yesterday’s session but found enough support near the 112.25 to bounce back and cover all the losses of the day. Yesterday’s bounce indicated of a continuing strong momentum in the market to go higher and break above the 113.25 level. The current interest rate differential between the United States and Japan continues to favour a move to the upside. Buying in dips will be the right strategy to play this market as it will get support from the lower levels to continue higher. …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.