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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 11, 2017
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EUR/USD The gain in the pair extended on Friday's session initially but gave in all the gains at the end of the session to close flat. The market is bit
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EUR/USD
The gain in the pair extended on Friday’s session initially but gave in all the gains at the end of the session to close flat. The market is bit overbought and will try to consolidate in the region. It has support near the 1.20 level but it breaks below then sellers will try to further bring it lower. Pullbacks will provide necessary support to continue higher with the long term target of 1.25 level. …Read More
GBP/USD
The market continued its strong momentum and rallied significantly towards the 1.32 level on Friday’s session. Looking forward, it is likely to face resistance around the 1.3250 level and needs to build up strong momentum to cross above the 1.3250 level to continue higher. It is better to watch for the next move in the market before initiating any fresh positions as failure to cross over will result in sellers taking the grip in the market. …Read More
AUD/USD
The market went above the 0.81 level initially during the Friday’s session but fell significantly. The important 0.80 level will continue to provide strong support as it was massively resistive. The pair will maintain its bullish pressure till it holds above the 0.80 level. The weak dollar and Fed’s lack of ability to move on the interest rate will provide the support to the market. …Read More
USD/JPY
The market broke the important 108.50 level and drifted lower on Friday’s session. The breakdown below 108.50 level is very negative for the market and is likely to drift further lower towards the 105 level. Overall, the weak fundamentals of the market should weigh upon this pair. Traders should watch out for a cue in global equities market to trade this market. …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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