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 expected to be driven by dollar strength

Dollar strength back in play, with EUR/USD and GBP/USD losing ground as USD/JPY turns upwards once again.

​EUR/USD expected to continue its decline despite overnight pop

EUR/USD has regained some ground overnight, following a decline through the $1.1529 level to bring a 14-month low.

The overnight rise has done little to bring expectations of a wider reversal for this pair, with a bearish outlook in place until the price breaks up through the likes of $1.1586 and $1.164.

GBP/USD likely to roll over further after the recent 76.4% retracement

GBP/USD has been rolling over from the 76.4% Fibonacci resistance level of $1.367. The wider downtrend remains in place, although it makes sense to watch for a break below trendline and $1.3568 support to bring about a signal that this bearish trend is going to come back into place.

Ultimately we would need to see a break up through the $1.375 level to negate the bearish trend in place over recent months.

USD/JPY turning upwards following brief retracement

USD/JPY has been on a rapid rise of late, with the pair pushing back towards yesterday’s peak of ¥113.79. The uptrend seen over the course of October thus far highlights the potential for another bout of upside from here.

A break up through that ¥113.79 level brings about a fresh bullish signal for the pair. Conversely, we would need to see a drop below ¥113.00 if we were to see a more neutral outlook for the pair. ​


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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.