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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 8, 2017
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EUR/USD The market took a bullish move post the ECB president Mario Draghi's press conference, paving the way to the early tapering of the stimulus plan.
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EUR/USD
The market took a bullish move post the ECB president Mario Draghi’s press conference, paving the way to the early tapering of the stimulus plan. The pair broke above the 1.20 level indicating strong momentum in the market. Long term view of the market is positive with targets of 1.25 level. Any short term pullback in the market will be excellent buying opportunity into the market. …Read More
GBP/USD
Initially, the pair went in a sideways direction on Thursday’s session but shot higher towards the 1.31 level later during the day. The strong momentum in the market is followed by the breakout above the 1.3050 level. The next target for the market is at 1.3250 level which is also a strong resistance zone. Looking ahead, market will be quite volatile and rally in the market will be supported by the weak dollar than other factors. …Read More
AUD/USD
The upside proclivity in the market, helped the AUD to stay above the crucial resistance level of 0.80 during Thursday’s session. The breakout is a significant move in the pair and will assist the market to go higher towards its next logical target of 0.90 level. Currently, the fundamentals of the market will continue to support the rally going forward. Any short term pullback will provide a good buying opportunity. with support around the 0.7985 level underneath. …Read More
USD/JPY
The market turned negative during the Thursday’s session, with JPY falling towards the 108.50 level against the dollar. This is an important level to watch for as market has turned around from this level in the earlier downtrend. Breakout below this level will take the market towards 105 level and if bounces 109.50 will be the next target. It is better to wait as market forms any particular direction to the price movement. …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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