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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – October 9, 2017

Colin First
Updated
Bitcoin futures begin trading at the CBOE as central banks line up announcements this week

EUR/USD

The pair witnessed huge volatility during the session on Friday ahead of the US job data release. But after the weak set of job data figures, the pair inched higher, reaching towards the 1.1750 level. Currently, the 1.17 level is acting as a floor for this market and is expected to continue the long-term uptrend. If the pair breaks down below this level then the market will reach towards the 1.15 level which will be very negative. …Read More

GBP/USD

The market continued its downward movement towards the 1.30 level on Friday, as bearish pressure on the currency continues. The market is suffering from the uncertainty due to the negotiation of Brexit and struggle for Teresa May’s government continues. The market will try to find support near the 1.30 level which is a large, round, psychologically significant barrier. Going forward, if the market will be volatile and if it fails to clear above the 1.31 level then negative pressure to continue in the market. …Read More

AUD/USD

The pair declined further on Friday’s session breaking the 0.7750 level which was acting as support for this market. Now, the pair is below this level, it will find difficulty in going higher and is expected to break down towards the 0.75 level. Selling rallies will be the best strategy to play this market and if the market gives a close above the 0.78 level then buying should come into the market. …Read More

USD/JPY

The pair exploded higher towards the 113.50 level on Friday’s session ignoring the weak job data number which was expected due to 2 hurricanes. Friday’s rally in the market was due to the rally in 10-year interest rates in the United States as compared to 10 years notes in Japan which gave almost no return. The market will continue to gain strength as it reaches towards the 114.50 level and extends till 115. If this market crosses above the 115 level then buy and hold strategy will be the best. …Read More

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This article was originally posted on FX Empire

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