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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 23, 2018

By:
Colin First
Published: Jan 23, 2018, 08:26 UTC

EUR/USD The pair gapped higher at the open during the Monday's session, pulled back to fill the gap to rally again. The market is expected to continue the

Forex Trading Signals - January 11, 2018

EUR/USD

The pair gapped higher at the open during the Monday’s session, pulled back to fill the gap to rally again. The market is expected to continue the uptrend movement and if it able to break above the 1.23 level then the market will be free to go to the 1.24 level and then 1.25 level eventually. Buying on dips will be a nice idea for this market which has plenty of support between 1.22 and 1.21 level underneath. …Read More

GBP/USD

The British Pound continued to rally during the Monday’s session reaching the psychologically important level of 1.40. This area, the market will experience a bit of resistance but the overall trend of this market is very bullish and will continue to go higher. Pullbacks will offer value in this market with a support at the 1.38 level underneath. The weak dollar continues to be the major driving force for this market and the long-term target of the market continues to be 1.45 level. …Read More

AUD/USD

The AUD is holding the 0.80 level and rallied a bit during the Monday’s session, but some amount of noise is expected which will try to pull it back. This level has been very significant and has been a major price fulcrum going back decades in this market. The gold prices have direct influence in this market as Australia is the largest exporter of this precious metal to the world. Sell-off in the USD is also helping the pair to maintain a positive strength. Pullbacks will be a good opportunity to enter this market will support at 0.79 level extending up to 0.78 level. …Read More

USD/JPY

The pair initially went sideways during the Monday’s session but later bounced around just above the 110 level. This level is the most important as this is the 61.8 percent in Fibonacci retracement level and the market will eventually find support. The JPY is directly proportional to the performance of the global stock market and the stock markets have done extremely well in the recent past. The sell-off of US dollar has also affected this pair to fall. Until it crosses above 111 level, the market will remain under selling pressure. …Read More

About the Author

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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