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 helped by dollar weakness

EUR/USD, GBP/USD and AUD/USD gains come off the back of dollar weakness, but will they continue?

EUR/USD continues its ascent amid dollar weakness

EUR/USD has continued its rise as we kick-start a new week, with the pair rising into the highest level in almost three-months.

Coming off the back of a range break last week, the next resistance level we have in view comes from the 1 September peak of $1.2011. With the uptrend still in play it makes sense to expect further upside from here, with a break back below the $1.1882 swing low required to bring about a more bearish outlook.

GBP/USD rallies back towards Fibonacci resistance

GBP/USD is on the rise in early trade, coming off the back of a largely bearish Friday session.

That decline took us back below the $1.3293 swing low, bringing about a greater chance that we will see the pair will enter a more bearish phase. With the price rising into the 76.4% Fibonacci retracement level, there is a good chance we could see the pair start to roll over from here. A break up through the likes of $1.3359 and $1.3397 would be required to negate that bearish view.

AUD/USD expected to rise despite morning weakness

AUD/USD is drifting lower in early trade, coming off the back of a bullish month thus far.

That upward trend still holds despite the retracement into the 61.8% Fibonacci support level this morning. With that in mind, further upside looks likely unless price falls back below the $0.7352 swing low.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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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