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 and GBP/USD move up as USD/JPY drifts sideways

EUR/USD and GBP/USD are still aiming for further gains, while USD/JPY has continued its sideways movement.

EUR/USD still in upward move

EUR/USD continues to climb as it has done over the past week, with no reversal yet in sight.

As a result, we look for further gains in the direction of the 50-day simple moving average (SMA) at $1.1711, and then on to the late September high at $1.1756.

GBP/USD returns to September peak

Crunch time is rapidly approaching for the GBP/USD bulls, after a huge rally off the September low. Gains in September stalled at $1.39, with the price now targeting this zone, as well as the 200-day simple moving average (SMA) at $1.385.

There have only been small intraday pullbacks, but as with EUR/USD, an actual reversal has yet to develop. Notably the price has continued to post higher daily lows over the past week and more.

USD/JPY drifts sideways

USD/JPY's bounce has weakened but not gone into a complete reversal. Sellers have been unable to push the price below ¥113.85, Tuesday’s low.

Until this happens more short-term consolidation looks likely, as a prelude to another push above ¥114.50.


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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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