EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 21, 2017

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Published: Sep 21, 2017, 07:33 UTC

EUR/USD The pair was mostly sideways through the day on Wednesday hovering around the 1.20 level. The pair is going through a lot of news and resistance

EUR/USD

The pair was mostly sideways through the day on Wednesday hovering around the 1.20 level. The pair is going through a lot of news and resistance in this area. If the pair breaks above the 1.20 handle, then it will be very positive for the market and will eventually move towards 1.25 handle. With economic indicators of the European Union signalling strength in the economy and tapering of quantitative easing is very positive for the market. …Read More

GBP/USD

The pair drifted higher during the session on Wednesday’s as the level 1.3650 is held as support. The break above the 1.3650 is very positive for the market and may try to fill the gap higher it made after the Brexit vote. The market is holding the upper level in the last couple of sessions and if we get a breakout then 1.40 and 1.50 will be the long-term target. Every pullback in this market will be a buying opportunity until we break below the 1.30 level. …Read More

AUD/USD

The AUD exploded higher towards the 0.81 level using the 0.80 as a strong base. The bullish pressure in the market is likely to continue as the gold market is getting support at the $1300 level. Now, the market has cleared the important 0.80 level with strong momentum, it is likely to move higher towards the 0.90 level in the long term. …Read More

USD/JPY

The pair started on a slightly weak note on Wednesday but started finding some support from the lower levels. As the traders were waiting for the outcome of the Fed’s meeting market was largely silent. Now, the Fed has decided to not touch the interest rate hike but to focus on shrinking its huge balance sheet systematically, the market will now probably move higher towards the 114.50 level which has been the top of recent consolidation. …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.