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 reverse losses as dollar comes under pressure

EUR/USD, GBP/USD and AUD/USD regain lost ground, with bullish trends potentially coming back into play.

EUR/USD gains ground yet hurdles remain

EUR/USD has managed to regain ground over the course of the week, with the pair pushing back into the 76.4% Fibonacci retracement level in early trade.

A break through this confluence of trendline and Fibonacci resistance would go a long way to signaling the intention to ultimately break through the $1.219 high and end this recent bearish phase. However, until we do see that $1.219 level broken there is still a potential for us to reverse lower and build on the January declines. A break below the 80 threshold on the stochastic brings greater confidence of that bearish move coming to pass.

GBP/USD continues its ascent after bullish breakout

GBP/USD has broken through trendline resistance this week, with the pair seeking to leave behind the slower paced ascent seen in January.

That rise into a multi-year high provides confidence of further upside to come, with a bullish outlook in play unless price breaks below the $1.368 resistance level.

AUD/USD breaks resistance, bringing chance of bullish return

AUD/USD broken through trendline resistance this week, with the pair threatening to bring a fresh bullish outlook after the recent breakdown.

That trend of lower highs means that we need to see $0.7764 broken to negate the recent downtrend. As such, there is still a chance of us turning lower here, yet the fact that we have broken through trendline and Fibonacci resistance does raise the possibility of a bullish breakout through $0.7764.

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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.