EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 20, 2017

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Published: Sep 20, 2017, 07:46 UTC

EUR/USD The market rallied on Tuesday's session, testing the 1.20 level above which is offering a bit of resistance. WIth Federal Reserve's inability to

EUR/USD

The market rallied on Tuesday’s session, testing the 1.20 level above which is offering a bit of resistance. WIth Federal Reserve’s inability to raise interest rate after the two consecutive hurricanes and ECB decision to cut back on quantitative easing will help the Euro to scale higher levels. Break above 1.21 level will help the market finally reaching towards 1.25 level in long term. …Read More

GBP/USD

The pair continued its choppy move throughout the Tuesday’s session. The market is looking for some kind of trigger to continue higher as the level above 1.3650 offers a lot of resistance. The market is looking for some clarity from the Federal Reserve’s approach towards rate hike as the rally in the market will be mostly due to the dollar. If the pair breaks above the $1.3650 level then it will be very positive for the market and will probably attempt the 1.45 level in long term. …Read More

AUD/USD

The AUD rallied from the lower levels breaking the 0.80 level during the Tuesday’s session but failed to retain above and turned around. The level above 0.80 will continue to offer significant resistance. The movement in the market will now be influenced by the outcome of Fed’s meeting and the gold prices. …Read More

USD/JPY

The market was slightly negative in Tuesday’s session as the markets are waiting for the outcome of Fed’s meeting on the rate hike. Overall, the market is expected to react very softly on the low possibility of the rate hike and will continue its bullish move. Looking forward, any short-term pullback will be a good buying opportunity and 108 level will provide a good support to the market. …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.