EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 12, 2017

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Published: Sep 12, 2017, 08:40 UTC

EUR/USD The market was slightly negative during Monday's session, trading below the 1.20 level. The pair has strong support near the 1.1950 level

EUR/USD

The market was slightly negative during Monday’s session, trading below the 1.20 level. The pair has strong support near the 1.1950 level underneath and pullbacks from the higher level have been gradual indicating the presence of strong momentum in the market. Looking forward, the pair is expected to trade at the current level with some amount of choppiness in the market. …Read More

GBP/USD

The GBP initially tried to rally towards the 1.32 level, but the resistance above restricted the upward movement in the pair. The breakout above the 1.3250 level will be very bullish and take the pair towards 1.35 level and if it breaks below 1.3150 level it will go much lower towards the 1.30 level. The rally in the market is basically due to the weak dollar and will continue to be extremely volatile in the coming session. Traders are required to be cautious on the move of the pair. …Read More

AUD/USD

The AUD was very volatile in the Monday’s session, hovering just above the 0.8025 level. The 0.80 level underneath will be massively supportive and will get the pullback rally from there. Looking forward, the market should continue to reach towards the 0.81 handle above and gold prices will largely influence the movement in the pair. If gold price rises, AUD will continue to pick value. …Read More

USD/JPY

The pair gapped higher in Monday’s session and rallied towards the 109 level as fear over the North Korea issue subsided. The market will continue to be volatile and will try to fill the gap underneath with a downward move towards 108 in upcoming sessions. Once the market fills the gap, then we can get rally for a couple of sessions. …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.