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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – April 20, 2018

By:
Colin First
Published: Apr 20, 2018, 09:49 UTC

EUR/USD The Euro chopped around the 1.2350 level during the Thursday's session using it as a support. The uptrend line underneath should continue to keep

EUR/USD daily chart, April 06, 2018

EUR/USD

The Euro chopped around the 1.2350 level during the Thursday’s session using it as a support. The uptrend line underneath should continue to keep this market in the positive momentum and also attract a lot of buyers. It is believed that until this market breaks above the 1.25 level, it will continue to consolidate around the region. …Read More

GBP/USD

The pair pulled back initially but got enough support to move higher and reach towards the 1.4250 level during the Thursday’s session. The market from here is expected to continue moving higher and once it breaks 1.43 level above, which is a psychologically significant number, the market will try to move towards the 1.45 level above. Short-term pullbacks will continue to attract buyers and the 1.40 level underneath is the floor of this market. …Read More

AUD/USD

The pair went back and forth during the yesterday’s session initially moving close to 0.78 level but due to strong resistance above, the market went slightly lower reaching towards the 0.7750 level. The gold prices have a huge influence in this market and is positively correlated and will also chart the future price action of this market. …Read More

USD/JPY

The pair moved back and forth during the Thursday’s session as is found too much difficulty in breaking above the 107.50 level. Occasional pullbacks will continue to be a nice buying opportunity in this market until it breaks below the 105 level. In the long term, the market is trying to form some type of base and will move much higher over the next several months. …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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