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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 15, 2018

Colin First
Updated
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 27, 2018

EUR/USD

The market was very noisy during the trading session on Wednesday, as it was for all pairs involving US dollar. The pair initially went down to test the support at 1.23 level but then shot higher at once reaching towards the 1.24 level. The pair is now aiming to reach towards its next target of 1.25 level which is psychologically important level. The pair succeeds in breaking above this level, then it will go much higher possibly towards the 1.32 level. The market will remain much volatile and noisy as it goes higher. …Read More

GBP/USD

The British Pound initially drifted lower reaching towards the 1.38 level during the yesterday’s session, but then the pair sky-rocketed reaching the 1.3950 level and above at once. The pair now is likely to reach higher towards the 1.40 level and if it breaks above the 1.4050 level, then it should continue to go much higher. The 1.38 and 1.43 level is going to be the area in which this market is likely to move in next few sessions. …Read More

AUD/USD

The pair was extremely noisy during the yesterday’s session as initially broke down reaching towards the 0.78 level but turned around instantly to rally towards the 0.79 level. If the pair succeeds to clear above the 0.79 level then it could go to the 0.80 level and above. The market above 0.81 level is going to be a buy and hold type situation in the market and the longer-term outlook of the market remains positive. The 0.78 level is going to be the floor of this market and a break could be very negative for the market. …Read More

USD/JPY

With US dollar entering the negative zone on Wednesday, this brings the USD/JPY in the bearish phase and it breached the highly supportive 107.50 level. Given enough time, this market is likely to move towards the 105 level and even lower. This market is largely driven by the movement in US dollar. In the longer term, if the pair breaks above the 108 level, then it will be a positive move and could send it towards its next resistance zone at 110 level. …Read More

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This article was originally posted on FX Empire

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