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 decline could bring buying opportunity

EUR/USD, GBP/USD and AUD/USD ease back, but short-term weakness could bring buying opportunities

EUR/USD turns lower after recent rise

EUR/USD failed to hold on to its gains after a rally back towards the $1.2189 resistance level yesterday, with the pair turning swiftly lower despite a rise in early trade. The break below $1.2081 is not ideal for bulls, although the deep nature of this rebound does point towards a weakening bearish trend.

With the stochastic starting to turn upwards, there is a chance we could see the bulls come back into play over the short-term. However, once again we would need to see a break through the $1.2189 level to negate the recent downtrend that has been in play. With that in mind, while we could see a short-term move higher, there is still a risk of further downside until we break from this bearish pattern.

GBP/USD pullback brings potential buying opportunity

GBP/USD has been easing back overnight, with the pair giving back some of the gains seen so far this week. GBP/USD has been a steady outperformer of late, and that uptrend doesn’t look likely to end here.

With that in mind, this current retracement looks like a potential buying opportunity, with a break below $1.3775 required to negate this bullish view. Until then, further short-term weakness would simply be viewed as a better buying opportunity as we move towards the deeper Fibonacci levels.

AUD/USD weakens into deep retracement

AUD/USD has similarly been on the back foot, with the pair moving lower after a rally into the $0.7805 resistance level. That weakness could be the start of something more troubling, but for now it simply looks like a likely retracement and buying opportunity.

With that in mind, bullish positions are favored here, with a break back below $0.7718 required to negate this bullish view. ​

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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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