Yahoo Finance EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 8, 2017
EUR/USD
The market was choppy during the Thursday’s session as it tried to cross the important 1.18 level. The market is looking to find some type base around this level and if the market goes above the 1.18 level then the market should go towards 1.1933 level. The longer-term view of the market is positive with the target of 1.21 level and break above this level will be a buy and hold situation for the market. The 1.17 level is going to be the floor of this market. …Read More
GBP/USD
The pair initially went in a sideways direction on Thursday’s session but then bounced significantly to reach the 1.3333 level below and then reached higher towards the 1.35 level. The market will remain volatile but will be positive as the UK and EU decide on the terms of Brexit. The 1.35 level above is going to be massively resistive and in the longer term, the market will attempt the important 1.3650 level. The break above there will be a buy and hold scenario in the market. Alternatively, if this market breaks below the 1.3333 level then it will probably go down towards the 1.30 level. …Read More
AUD/USD
The pair broke off significantly during the Thursday’s session on the anticipation of stronger US job data number. If the pair breaks below the 0.75 level during the day then it will very negative development for the market. Eventually, this market will fall towards the 0.7350 level underneath. In the longer term, this market will favour the US dollar as likely rate hikes coming out of the Federal Reserve and Reserve Bank of Australia has been less hawkish recently on rate hikes. A move above 0.7560 from the current level will help to negate some of the negative pressure from the market. …Read More
USD/JPY
The pair significantly rallied during the yesterday’s session reaching towards the 113 level. The market today is expected to move higher in anticipation of stronger job data number coming out from the US. This piece of data will significantly affect the market and will send this market much higher towards the 114.50 level. The 113 level will be the support of this market and if it breaks below then it will move towards the 112 handle. …Read More
This article was originally posted on FX Empire
