Yahoo Finance EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – July 25, 2017
EUR/USD
The pair went through sideways movements on yesterday’s trade and went down towards 1.1625 level which is a support zone also. The market is consolidating before beginning any upward movement. The market will provide traders with a opportunity to buy in dips as the market seems fairly overbought. The 1.15 level is a strong support level and no show from the dollar will make this market a one-way trade. Next target level will be 1.17 and then 1.1850 which is a major resistant zone. …Read More
GBP/USD
The pair closed higher on Monday’s trade with enough buying pressure. The rally is due to the weakness in the US dollar. The Forex traders are selling dollar against everything. The market is looking for 1.30 level and perhaps 1.3450 level over the longer terms. Buying on dips is the best way to trade this market. …Read More
AUD/USD
The pair tried to rally during the Monday’s session but volatility in the market returned to take it down a bit before close. The 0.80 level will have massive resistance and buying dips is the best way to play this market. The 0.7750 will be good support area. The market should watch the gold market and US dollar closely for cues in the market. …Read More
USD/JPY
The pair traded in a range during Monday’s session. Initially, it fell but rallied again to close flat. The market is eyeing for the 111 level which is a psychologically significant number. Fall of the dollar against most of the currency around the world will also add pressure on the pair. Sell on Rallies will be the ideal way to trade the market and 110 level has a good amount of support. The market should also keep an eye on stock market performance from where it can take a cue. …Read More
This article was originally posted on FX Empire