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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 11, 2017

Colin First
EUR/USD The market rallied during the Tuesday’s session, breaking above the 1.18 level which was the significant resistance level. Yesterday’s breakout in the market will help it to continue higher towards the 1.20 level and above. Going forward, the market is expected to volatile as a lot of news will flow into the market primarily … Continue reading EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 11, 2017

EUR/USD

The market rallied during the Tuesday’s session, breaking above the 1.18 level which was the significant resistance level. Yesterday’s breakout in the market will help it to continue higher towards the 1.20 level and above. Going forward, the market is expected to volatile as a lot of news will flow into the market primarily the FOMC Meeting Minutes during the day which will help the market to set the direction for the US dollar and this market. …Read More

GBP/USD

The market inched higher breaking above the 1.32 level during the day on Tuesday using the support of 4-hour exponential moving average. The pair is expected to get some amount of resistance at the 1.3250 level as it moves higher. The recent pullback in the market has been an attempt to test the support level underneath and build up enough momentum to break above.Going forward, the market will largely be influenced by the FOMC Meeting Minutes during the day today and increasing the likelihood of rate hike by Bank of England. …Read More

AUD/USD

The AUD/USD pair rallied during the day on Tuesday, using the support level of 0.7750 towards the 0.78 level and above. The market is currently getting support from the rally gold prices and if it successfully breaks above 0.78 level then we may see a move towards the 0.80 level in short term. Today’s release of FOMC meeting minutes will set the tone of the market as dovish nature will be set for the dollar and will lift the price dollar as well as help the pair to rally. …Read More

USD/JPY

The USD fell apart towards the 112 level against the JPY during the yesterday’s session as some type of risk-off trade in the market influenced the market. The market is expected to get support around the 112 level and the buyer will try to enter the market from here. If it breaks below, then 111 level is very supportive for the market. With FOMC minutes updates during the day today, the market is expected to remain volatile and until the market crosses over the 114.50 level, market will largely consolidate. …Read More

This article was originally posted on FX Empire

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