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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 6, 2017
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EUR/USD Initially, the market went on sideways direction on Tuesday but as the American session began the market tried to rally above the 1.20 level. This
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EUR/USD
Initially, the market went on sideways direction on Tuesday but as the American session began the market tried to rally above the 1.20 level. This level will offer some amount of psychological resistance. The weakness in the dollar against major currencies will also support fresh buying into the pair. If the pair successfully closes above the 1.20 level, the markets can go higher over the long term towards the 1.25 level. Pullbacks will provide good buying opportunity into the market. …Read More
GBP/USD
Initially, the pair went in a sideways direction on Tuesday’s session but shot higher as it broke the key resistance level of 1.30. It would be interesting to watch the direction of the market now, as the resistance level extends to 1.3050 and difficulty in crossing above will lead to selling in the market. If the market successfully closes above the 1.3050 level, then it can go much higher. It will be important to watch the price movement in the market for future price trend. …Read More
AUD/USD
In a significant turn of events, AUD broke past the vital 0.80 level which is considered a key resistance level going back decades. Now, it will be important for the market to stay above the 0.80 zone for more buying coming into the market and will be “buy and hold” proposition for the traders in the long term. …Read More
USD/JPY
The market continued its downward trend on Tuesday’s session, significantly reaching towards the 108.50 level which may offer some amount of support. If the weakness continued in the market, it will break towards the 105 level, which will be negative for the market. Looking forward to the day, it is important to watch the closing levels to decide on the future trends. …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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