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.


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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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