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EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 22, 2017

Colin First
Updated

EUR/USD

After the Fed’s announcement of balance sheet reduction measures and a possibility of a rate hike in December, the market reacted very sharply and fell towards the 1.1850 level. In Thursday session, the market started was positive and tried to rally above maintaining the uptrend line. The market will get enough bullish pressure if it maintains the uptrend line and If the pair breaks below the uptrend line, then it will be very negative for the market and will fall towards the 1.15 level. …Read More

GBP/USD

The market became very volatile post the Fed’s announcement. The pair broke lower towards the 1.35 level post the announcement but was sideways in a tight range in Thursday’s session. As the market is going through a lot of news from both domestic and global front, short-term trade is the best way to play this market with buying dips as a strategy. If the pair breaks above the crucial 1.3650 level, then it will take the market higher towards the 1.40 level in short to medium term horizon. …Read More

AUD/USD

The pair broke below the 0.79 level on Thursday’s session in one of the most unexpected move. The market seems like was not prepared for any eventuality from the Fed. On the daily chart, the pair has formed a massive shooting star candle, which is a bearish candle. Now as the pair is below 0.79 level, the market is expected to be in bearish trend for some time now and to break above it need enough pressure to continue higher. …Read More

USD/JPY

Wednesday’s Fed’s announcement came in as a positive for the market, as the pair broke above the 112 level post the announcement. The pair successfully retained the level above the 112 during the Thursday’s session. If the market now breaks below the 112, then it may go lower till 111.25 level and if it breaks the 112.75 level then it will move towards the 114.50 level above which is the top of the larger consolidate of the area. Going forward, the market will experience volatility with buying on dips will be the right strategy for this market. …Read More

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This article was originally posted on FX Empire

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