CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD, GBP/USD, and AUD/USD at risk of a bearish turn

EUR/USD, GBP/USD and AUD/USD gain ground, yet remain at risk of a bearish reversal from here.

EUR/USD rallies into resistance after Friday surge

EUR/USD has been regaining ground since Friday's low, with the pair rising back into a notable confluence of previous peaks and troughs. That $1.2053 level has proven to be a step too far as things stand.

However, should we break through that level we will be looking at a potential push towards the $1.2099-$1.2133 zone. Ultimately, the wider retracement still remains in play irrespective of whether we see the price break through the $1.2053 level. Instead, the price would have to break $1.219 to bring a bullish outlook back into play.

GBP/USD starts to weaken after recent rise

GBP/USD has been on the rise after sharp declines through much of last week. However, we have seen an impressive recovery that takes us back towards the $1.3758 resistance level.

A break through that level would negate the recent wedge breakdown seen in the pair. However, with the stochastic rolling over and the price starting to weaken, there is a good chance we start to see this rally run out of steam. As such, while a break through $1.3758 would bring about a fresh bullish signal for the pair, there is a chance we start to roll over from here.

AUD/USD gains ground, yet questions remain

AUD/USD managed to rally up through the $0.7648 resistance level on Friday, with the pair pushing into the 200-simple moving average (SMA) indicator this morning.

That raises questions once again, with a break through $0.7704 required to negate the current bearish formation. With the pair starting to weaken around the 200-SMA and 76.4% Fibonacci levels, there is a good chance we see the pair turn lower from here. That bearish view is negated with a move through $0.7704.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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