EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 15, 2017

EUR/USD

The Euro was quite volatile during the yesterday’s session as it was expecting a rate hike and future growth outlook announcement from the ECB. The Central Bank didn’t go ahead with the rate hike but raised the outlook for future growth. The Bank also announced to continue with the QE until September 2018. The pair was trading lower at the 1.1780 level, initially trading above the 1.18 level. A break above 1.18 level will keep the momentum upside with a support at 1.1775 level. …Read More

GBP/USD

The pair initially went higher during the yesterday’s session but after the Bank of England announcement on monetary policy, the market went lower. The announcement by ECB was on par with the expectation and didn’t have much impact on the market. The market is facing significant resistance at the 1.34 level extending up to 1.35 level. With Brexit negotiation going into the crucial second phase in which trade negotiations will take place. The pair will trade with a positive bias and will be volatile with a support at 1.333 level. …Read More

AUD/USD

The pair rallied significantly during the yesterday’s session breaking above the 0.7650 level but then dragged a little. The pair is likely to face a lot of noise around the region and is likely to test for the support below. If the upside momentum continues in the market then 0.7750 level will be difficult for the market to cross. And, if it breaks below the 0.76 level then the market is likely to give back the gains more quickly. Traders should keep an eye on the movement of the gold market and the dollar to get a clue of the trend of the market. …Read More

USD/JPY

The market traded with a negative bias in yesterday’s session after it broke below the 113 level at the end of previous day’s session. The market is witnessing a lot of action around the 112.50 level and it is likely that the market will break below 112 level next.With Federal Reserve hiking the interest rate and widening interest rate differential will favour this market to go higher. …Read More

This article was originally posted on FX Empire

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