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 USD/JPY edge higher

Small gains have been seen in early trading for EUR/USD and USD/JPY, while GBP/USD struggles to make headway.

EUR/USD targets $1.18

Dollar weakness continues to carry EUR/USD higher, rebounding over the previous four sessions.

However, the overall negative trend remains firmly in place, given the run of lower highs of late. A move back above the 50-day simple moving average (SMA) at $1.1817 would ease some of the bearish view, and shift the outlook to a more neutral one for the time being.

GBP/USD rally slows

The rebound with GBP/USD has stalled after several days of gains, suggesting a potential continuation of the run of losses seen since the end of July.

A move back above $1.38 would start to provide a more positive view, but sellers will be looking for a new move back to, and then below, $1.36.

USD/JPY edges higher for a fresh session

The recovery of USD/JPY puts the pair on course to test ¥110.50 once more, if the price can hold above ¥110.00, which has acted as resistance over the past week.

Since the beginning of the month the price has carved out higher lows, helping to provide a more bullish view in the short term.


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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