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 rally as USD/JPY falters

In the wake of Jackson Hole the dollar has weakened, allowing EUR/USD and GBP/USD to move up while holding back USD/JPY.

EUR/USD surge keeps on going

The rebound with EUR/USD continues, marking a strong recovery from the lows of two weeks’ ago.

Further gains head towards trendline resistance from the June peak, and then on to $1.19 and $1.196. Sellers have yet to see much in the way of a decisive break lower, and will have to wait to see whether bullish momentum begins to ease in coming sessions.

GBP/USD heads to trendline resistance

The bounce of the past week with GBP/USD has neared trendline resistance from the August highs, which could point towards a renewed turn lower, but for the time being the sellers remain firmly in control.

Further gains target $1.385, and then on towards $1.40. At present there is little price action to suggest a near-term lower is at hand.

USD/JPY edges back from Monday gains

A turn lower with USD/JPY in early trading reverses some of Monday’s gains, and raises seller hopes that the price may move below the lower bound of the current triangle formation, amplifying the bearish view.

Alternately a recovery above ¥110.20 would put the buyers back in charge.


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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