Annual Forex Market Outlook - 2016

EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – June 6, 2017

EUR/USD

The pair had a boring day of trading yesterday as it had no specific direction and was just happy to go chopping up and down in directionless trading. The pair is happy to wait for the bigger news towards the end of the week and till that time, we can expect this choppy price action to continue. …Read More

GBP/USD

The pair was able to break through the crucial 1.29 region during the course of the day yesterday as some of the opinion polls suggested that May might in fact manage to get a larger majority than what she has now. The polls from last week had suggested a tough time for her and so this kind of reports is a huge boost for her and her campaign and hence we saw the pair move towards 1.29 and beyond where it continues to trade strongly as of this writing. …Read More

AUD/USD

The data came in weaker than expected today morning from Australia and the pair has been suffering since then. It was generally expected that the pair would be able to gain following the tensions in the Middle East but so far, there has been no sign of that yet. …Read More

USD/JPY

The pair has fallen through the strong support region in the 110-110.25 region and it looks set to test 108.5 in the short term. The yen has been strengthening since this morning and this trend is expected to continue in the short term which should put pressure on the stock markets and on this pair as well. …Read More