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 expected to reverse lower after retracement

EUR/USD, GBP/USD, and AUD/USD look likely to head lower following a period of counter-trend gains.

​EUR/USD grinds lower after brief ECB pop

EUR/USD managed to pop into a brief 76.4% retracement after yesterday’s European Central Bank (ECB) meeting, providing a fresh selling opportunity for those with a keen eye.

The downtrend does still remain intact despite that brief spike, with the price falling short of the key $1.1851 swing-high. With that in mind, further downside looks likely from here. A break up through the $1.1851 level would be required to negate that bearish view.

GBP/USD rolling over after upward retracement

GBP/USD is on the back foot this morning, with the pair looking at risk after a period of gains seen throughout Wednesday and Thursday.

The downtrend remains in play unless price breaks up through the $1.391 level. As such, there is a good chance we see the bears come back into play following this 61.8% Fibonacci retracement.

AUD/USD weakening from trendline resistance

AUD/USD has similarly been trying to regain ground of late, with price rising into a somewhat mid-sized retracement level.

Despite that, we have seen a move into a descending trendline, which does highlight the potential to move lower once again here. There is a good chance that we will see the bears come back into play here, with any short-term upside perceived as a retracement unless the price rises through the $0.7503 swing-high. ​


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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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