EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 4, 2018
EUR/USD
The market continued to move around the 1.20 level during the Thursday’s session as it awaits the job number from the US. A stronger set of numbers will hammer this market down towards the 1.18 level and will be very negative. In case softer numbers are reported, the market will bounce from here possibly reaching towards the 1.21 level in next few session. …Read More
GBP/USD
The pair was stable all throughout the session on Thursday hanging just around the 1.3650 level. The next trigger in the market will be the non-farm payroll data from the US which determine its next move. In case market break down the 1.35 level on the back of strong job data number, the market will break down towards the 1.3250 level. In an alternate scenario, the market will target for the 1.40 level in the short to medium term. …Read More
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AUD/USD
The AUD bounced higher during the Thursday’s session using the support at 0.75 level. Yesterday’s bounce could be due to the anticipation that the job number will not be so strong. In case of stronger number, the market will break down to reach down towards the 0.7350 level more violently. However, if anticipation comes true, then the market will continue with its positive momentum. …Read More
USD/JPY
The market failed to break above the 110 level on Thursday’s session resulting in the pair reverse back and reach down towards the 109 level. The market has plenty of support underneath, extending down towards the 106.50 level. The job number will be the important trigger for this market as a strong number will support this market to break above the 110 level. …Read More