EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 1, 2017

By:

Published: Sep 1, 2017, 07:37 UTC

EUR/USD The pair initially fell lower but found support to turn around a bit on Thursday's session. This marks the consolidation phase in the market

EUR/USD

The pair initially fell lower but found support to turn around a bit on Thursday’s session. This marks the consolidation phase in the market between the 1.19- 1.18 level. Looking ahead to the day, the market is expected to be volatile as job data from the US is likely to create some movements during the day. Any pullback in the market will provide an excellent opportunity for traders to enter the market. In long-term, the market will break above the 1.20 level and then 1.25 level eventually. …Read More

GBP/USD

The market was significantly weakened during the Thursday’s session, falling towards the key support level of 1.2850. In today’s session volatility is likely to persist as job data from the US is likely to move the market in any of the direction significantly. Overall, due to any positive change in fundamentals, selling pressure is likely to continue in the market towards the 1.27 level. And for buying, until the market crosses the 1.3050 level with strong momentum, fresh buying will be difficult. …Read More

AUD/USD

There was extreme volatility in the pair on Thursday’s session, fell initially below the 0.79 level but bounced back above the 0.79 level again. Retaining the 0.79 level is seen as a bullish trend in the market. With jobs data coming out from the US, it likely for the market to be volatile. Going forward, the gold market will provide a significant cue to play this market as the market has significantly lowered in the past couple of days. …Read More

USD/JPY

Initially, the market rallied but found enough resistance around 110.70 level to turn around towards the 110 support level on Thursday’s session. The turnaround from higher levels could be profit booking ahead of the US job data. A positive set of numbers will drive the market to scale higher otherwise, the market will break below the 109.50 level and will be weak for next couple of sessions. …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.