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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 5, 2017
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EUR/USD The market gapped higher little on the start of Monday's session but it got difficult near the 1.1920 levels to cross over and pulled back. The
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EUR/USD
The market gapped higher little on the start of Monday’s session but it got difficult near the 1.1920 levels to cross over and pulled back. The 1.20 level is a massive resistance for the pair and breakout above the level will be a difficult one. The market is on a bit positive side with hints of early tapering by ECB and the negative dollar which will support the market to rise. Looking ahead, the support for the market is around 1.18 level underneath and will trade in the range of 1.18 and 1.20 in next couple of session. …Read More
GBP/USD
Initially, the pair went in a sideways direction on Monday’s session but due to volatility in the later part of the day, it affected the market move in back and forth direction. Overall, the market is a bit difficult to trade as uncertainty in both Federal Reserve’s intention of a rate hike this year and Brexit affecting the market. The market is expected to be choppy and over the long term, it is expected to go down below 1.2850 level with 1.30 as a strong resistance zone. …Read More
AUD/USD
The AUD gapped lower on the start of Monday’s session due to the test of H-bomb in North Korea. The pair turned around to fill the gap to fall again. The market is moving a range between 0.79 and 0.80 for quite a time now and will be in this zone for some time now. It is better to wait for the market to give some amount of clarity on the direction of the trend. …Read More
USD/JPY
The fear of geopolitical tension over Korean Peninsula gripped the market as it gapped lower in the start of Monday’s session. Initially, it tried to rally but have fallen back towards the 109.50 level. A move above 110 level will be bullish for the market and buyers are expected to return the market as the situation calms down. The pair is very sensitive to global risk and falls down easily on any negative development. …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.
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