EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook

EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 23, 2017

Risks Return to the Markets We have seen a return of risk in the stock markets since the beginning of the day today but the markets have been a bit mixed as the threats continue to loom. Yesterday we had seen the stock markets correct due to the increase in the global risks and uncertainties … Continue reading Market Snapshot – Strong ADP Reports Helps in Dollar Recovery · FX Empire

Colin First

Updated Wed, Aug 23, 2017, 1:37 AM

EUR/USD

Tuesday’s session for the market was much negative as it moved down towards 1.1750 level. Overall the market is bullish, and seems well supported at the 1.1750 level and is likely to retain the level during today’s session. The market should give attention to the words from ECB President Mario Draghi today, as it will give some of the movement in the pair. If it holds the key 1.17 level, then the market will enjoy bullish pressure in the near term. …Read More

GBP/USD

The pair broke the support level of 1.2850 on Tuesday’s session, after testing it for past couple of sessions. Currently, the market has turned bearish after the break of the support level. The first target for the market will be 1.28 and then eventually lower with the target of 1.2650 in near term. The market will be in sell mode in any short-term rally. …Read More

AUD/USD

The pair fell significantly towards the 0.79 level but found enough support underneath to manage a bounce in Tuesday’s trade. The market seems to have built 0.79 as a floor which is a bullish trend. If the pair manages to stay above 0.79 level, buying to continue in the pair with the target of 0.80 level. In short term, dips in the market will provide a good buying opportunity. …Read More

USD/JPY

The USD rallied a bit against Japanese yen on Tuesday’s session, testing the 109.50 level. If the market breaks the 109.50 level, then it’s next target will be 110. The break above the 110 will attract buying into the market. Currently, the market is expected to consolidate between the 108.50 and 110 level, with very less chance of upward proclivity. …Read More

This article was originally posted on FX Empire