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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 5, 2017

Colin First
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 12, 2017

EUR/USD

The pair gapped lower at the open during the Monday’s session and reached towards the 1.1850 level, as traders were excited with tax bill getting passed in the Senate. The market is likely to witness upside pressure in the coming sessions and it is believed that the 1.17 level will be a massive support zone. If the pair ables to break above its recent high near the 1.19 level then it will reach much higher towards the 1.21 level. Given the market condition, the market will experience a lot of noise which will keep this market volatile. …Read More

GBP/USD

The pair traded initially gapped lower at the open but then shot higher breaking the 1.35 level in yesterday’s session. The 1.3425 level is going to be the immediate support for the pair with 1.3333 level will be the floor of this market. Any fresh breakout in the market will send the pair above the 1.3650 level above which will turn the British pound in the investment perspective and not a trade anymore. Any pullbacks in the market will be a good buying opportunity. …Read More

AUD/USD

The market was volatile during the Monday’s session as it gapped lower during at the open but then moved higher and filled the gap. The reaction in the market is mainly due to the tax reform bill in the US and now the market is awaiting the RBA statement for further movement. The market is expected to remain voaltile given the amount of noise coming out from both the sides. With gold market providing less help to the market, the market will be remain affected by the dollar movements. …Read More

USD/JPY

The market gapped higher during the yesterday’s session mainly due to the improved sentiments from the US on the passing of tax reform bill. Now the market is above the 112 level, it is expected to continue to go higher. A move above 113 level for some time will send this market effectively towards the 114.50 level which is a massive resistance zone. The market will somehow find ways to fill the gap underneath before continuing higher. Overall the market has turned positive but will remain choppy. …Read More

This article was originally posted on FX Empire

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