EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 29, 2017

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Published: Sep 29, 2017, 08:38 UTC

EUR/USD The pair was slightly negative at the start of the Thursday's session slipping below the 1.1725 level but found support to turn around and bounce.

EUR/USD

The pair was slightly negative at the start of the Thursday’s session slipping below the 1.1725 level but found support to turn around and bounce. On the hourly chart, the pair has formed a W pattern in last 24 hours of trading indicating some type of consolidation around the region. After the large fall in the last couple of sessions, the market now looks stable and will go higher as the situation in the European Union is also improving. The long-term target for the market is at 1.20 and 1.25 level eventually. If the pair break below the 1.15 level, then it will be very negative for the market. …Read More

GBP/USD

The pair was in the significant downtrend move for the last couple of session reaching towards the 1.3350 level.But yesterday the pair bounced back to cross above the down trendline in the end of the session which is a positive move. The long-term view of the market looks positive and break above 1.3450 level will help the market looking towards the 1.40 level. Bank of England’s hawkish view will help the market to scale higher. …Read More

AUD/USD

The market has turned negative and is continuously falling from the last couple of session. Yesterday, the market fell lower testing the 0.78 level underneath. The pair has now support levels extending up to 0.7750 level, which was the top of a major consolidation area. Weak external and domestic market scenario is aiding the market to slip lower. If the pair breaks above the 0.80 level, then it will get enough support to scale higher. …Read More

USD/JPY

The pair started off with a positive start but found enough resistance near the 113.25 level to fall lower. The 112 level underneath is providing a lot of support to this market. The market is expected to remain volatile and few pullbacks will help the market to gain momentum to cross above the 114.50 level. Buying at dips will be the best way to play this market for the short-term period. …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.