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 uptrend halted by major resistance

EUR/USD, GBP/USD and AUD/USD rally into major resistance zones, with a break higher required to bring bullish continuation signals.

EUR/USD rally takes pair into major resistance zone

EUR/USD has been on the rise of late, with the pair moving into a major long-term descending trendline.

The uptrend still remains intact unless we see a break back below the $1.1696 level, yet this is clearly a consolidation zone that we must exit from to bring a more confident trending market once more. As such, watch for a break through $1.1909 or $1.1696 to signal the next move from here. Given the current uptrend, a break through $1.1909 looks likely.

GBP/USD looks to break through key resistance

GBP/USD has been slowing down in its ascent as it engages with a confluence of both long-term trendline and horizontal resistance ($13170).

With that in mind, a break through this area of resistance would give a bullish continuation signal, while a drop through $1.2981 would bring a bearish outlook for the pair.

AUD/USD continues its ascent as price hits 17-month high

AUD/USD continued its ascent, with the pair tentatively reaching a fresh 17-month high this week.

Yesterday’s gains sought to continue that move, yet overnight weakness hindered the hopes of an imminent breakout. As such, watch for a break through the $0.7243 level to bring about a fresh bullish signal for the pair. Ultimately, the uptrend remains intact until we see a break through the $0.7076 support level.

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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