EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 4, 2017

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Published: Sep 4, 2017, 08:05 UTC

EUR/USD The markets were volatile during the Friday's session as it was expected ahead of US job data release. The pair went lower breaking the key 1.20

EUR/USD

The markets were volatile during the Friday’s session as it was expected ahead of US job data release. The pair went lower breaking the key 1.20 level as selling gripped the market close to the level. Looking ahead for the day, the market will be less volatile and have thin trading volume due to the close of American markets on account of Labour Day. In short-term, the market will probably settle around its next strong support level of 1.18 underneath. …Read More

GBP/USD

The GBP initially fell against the dollar on Friday’s session but turned around at 1.29 level after the release of the US job figures which were below the expected lines. The pair is currently trading around the 1.30 level, which has a psychological resistance to the upside. Until the pair breaks the 1.3050 level with strong momentum, there will be fewer buyings into the market. Looking ahead, it will be difficult to trade this market amid volatility with no specific trend. …Read More

AUD/USD

The prevailing strong momentum helped the pair to scale higher towards the 0.80 level in Friday’s session but given the strong resistance around the region, it will be difficult to cross over. The market is currently supported by the rally in gold prices and if the rally sustains above the $1400 mark then AUD will be the biggest gainers among major currencies. Right now it is important for the pair to close above the psychological 0.80 level on a daily basis to move up the ladder. Looking ahead, the traders should keep a close watch on the performance of the global stock market and gold market to take a cue for future movement. …Read More

USD/JPY

The markets were mostly sideways in the Friday’s session. The pair traded around the 110 level, once dipping below the key 110 level in the day but rebounded. The market is now looking for any impulsive candle to start trading with some trend. The market is highly sensitive to risk and following the North Korea’s H-Bomb detonation, the market is expected to get some heat and may go below the 110 level towards 109.50 level. …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.