EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – January 25, 2018

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Published: Jan 25, 2018, 07:17 GMT+00:00

EUR/USD The market rallied significantly during the Wednesday's session as it reached towards the 1.24 level showing signs of strength. The market here is

EUR/USD

The market rallied significantly during the Wednesday’s session as it reached towards the 1.24 level showing signs of strength. The market here is likely to pull back a little as it seems to be looking the 1.24 level as a resistance. The pair has plenty of support at the 1.23 level underneath if this market reaches this level then buying will start again. This market is largely a buy on dips market and will continue to trade upside until the overall attitude of dollar reverses. …Read More

GBP/USD

The British pound shot higher during the yesterday’s session reaching well above the 1.42 level. Breaking above 1.40 level is a significant event for this market and bullish pressure is likely to continue in the long term. Any short-term pullback should be taken advantage to enter this market. Better trade agreement deal is expected from the Brexit move due to which there is more confidence in the UK economy and going ahead 1.40 level underneath will act as a floor. …Read More

AUD/USD

The AUD rallied significantly during the yesterday’s session as it sliced through the 0.81 level and above. This is a very significant move as it provides an opportunity to much higher prices and also becomes a buy and hold scenario. Buying into dips will be the right strategy for this market and the 0.80 level will now act as a floor of this market. As the dollar is in backfoot now, the AUD is likely to continue gaining price and the long-term target will be 0.90 level. …Read More

USD/JPY

The pair broke down significantly during the yesterday’s session as it sliced through the 110 level which was a structurally supportive level. Because of this move, the pair is likely to lose much more reaching towards the 107.50 level. A break above 110 level will entail confidence for the buyer to return and move higher but very unlikely to happen. As the market is very volatile, it would take some time for a general trend to form. …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.