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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – February 13, 2018

Colin First
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 12, 2018

EUR/USD

The pair went sideways during the yesterday’s session as it is consolidating around the 1.2250 level for last few sessions. The market from here is likely to get a bounce and if it crosses the 1.23 level above then it could reach much higher towards the 1.25 level over next several sessions. This week could be the turning point for overall currency market as it is expected that the US Dollar will resume its downtrend and value hunters will likely to get involved from here. The 1.22 level underneath is massively supportive extending up to 1.21 level and is unlikely to be broken as it was the scene of the major breakout. …Read More

GBP/USD

The British Pound initially tried to rally during the yesterday’s session but struggled to get past the 1.38 level and pulled back. The market is likely to retest the 1.3650 level for support as it was extraordinarily resistive in the past and buyers are likely to get involved. In the longer-term, the market will go much higher considering the hawkish outlook of Bank of England on rate hikes. If the pair went past the 1.40 level, then next eventual target will be 1.45 level. …Read More

AUD/USD

The AUD rallied a bit during the Monday’s session as the buyers are returning and picking this market from the lower levels. The market will experience a bit bullish pressure as the Gold prices are likely to go higher from here which is directly correlated. At this point, the 0.78 level is acting as a floor of this market and a break above 0.7850 level will grind this market higher towards the 0.79 and 0.80 level eventually. …Read More

USD/JPY

The pair was slightly negative during the Monday’s session as the market is concerned of the crash in global equity market which is keeping the traders concerned. Right now, the pair is trading just around the 108.75 level which is also a massive support area, extending up to 107.50 level. Breaking below 107.50 level will be very negative for the market and could send this market towards the 105 level next. Unless the market crosses the 110 level, selling pressure is likely to continue. …Read More

This article was originally posted on FX Empire

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