EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 18, 2017

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Published: Sep 18, 2017, 09:51 GMT+00:00

EUR/USD The pair gained significant momentum in Friday's session and bounced back from near the support towards 1.20 level. The market is expected to

EUR/USD

The pair gained significant momentum in Friday’s session and bounced back from near the support towards 1.20 level. The market is expected to continue its bullish trend above crossing the 1.20 level in next couple of sessions. Longer term analysis suggesting the pair to reach 1.25 level with few short-term corrections in the market. Any pullback will be a good buying opportunity. Failure to cross the 1.20 level and break below the 1.1850 level will be negative and will send this market much lower. …Read More

GBP/USD

The GBP has reversed its long-term bearish trend in the last couple of session. The pair skyrocketed in Friday’s session breaking the 1.34 level. The bullish trend came in after the British Central Bank decision to hike the interest rate early and pick up in economic activity. The market will face major resistance around the 1.36 level and is likely to get pullbacks which will be a good buying opportunity. …Read More

AUD/USD

The AUD is facing a lot of issues around the 0.80 level as the market is finding difficult to get the momentum to continue higher. The pair tried to rally during the day on Friday but found resistance near the 0.8030 level and lost all the gains. Currently, the AUD needs some support from the gold to stay above the crucial 0.80 level and any upside bounce in will bring in more buyers into the market. …Read More

USD/JPY

The market started weak in Friday’s session but managed to close higher. The volatility in the market is due to the unnerving missile test by North Korea that flew over Japan. The market recovered from the news quickly than anticipated and started its upside move. Longer term target of the pair stands at 114. 50 level and any pullbacks will be a buying opportunity. …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.

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