EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 24, 2018

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Published: May 24, 2018, 09:29 UTC

EUR/USD The market continued to remain weak and negative during the Wednesday's session breaking below the 1.17 level. By going below this level, the

USD/JPY Possibly Up to 107.20 if 106.60 Breaks

EUR/USD

The market continued to remain weak and negative during the Wednesday’s session breaking below the 1.17 level. By going below this level, the market is more likely to fall towards its next major support level at 1.15 level underneath. Short-term rallies in the market will be an excellent opportunity to sell this market as it offers value in the USD. …Read More

GBP/USD

The British Pound has broken significantly during the yesterday’s session reaching 1.33 level which is one of the major support levels. The market is expected to continue weak on the back of rising USD and also combined with concerns related to Brexit. The 1.30 level is now the next major support for this market. …Read More

AUD/USD

The pair fell hard during the yesterday’s session trying to reach towards the 0.75 level which is a psychologically significant number. The USD has been gaining strength against major currencies and AUD is also not different. The AUD/USD pair is likely to test the support at 0.7350 level in next several as the weakness in the market continues. …Read More

USD/JPY

The USD fell hard against the JPY in the yesterday’s session slicing through the 110 level. This negative move is a bit surprising because the dollar has been gaining strength in recent days on the back of rising interest rates. The market is more likely concerned about the US trade war with China which has not reached any conclusion and also reports emerging that the talks between the US and North Korea will be called off. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.