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 recover as USD/JPY falters

Some pre-election weakness has hit the dollar, allowing the euro and sterling to recover some lost ground, while USD/JPY’s bounce from last week’s lows may have run its course.

EUR/USD rallies off support

After holding below the 100-day simple moving average (SMA) yesterday the EUR/USD pair is moving up again this morning, with a renewed push higher targeting $1.188, the high from the latter part of October.

It has managed to rally from around $1.162, the same area that held in late September, bolstering the bullish view for the time being. A reversal below $1.16 would negate this view.

GBP/USD reverses course

GBP/USD also moved below its 100-day SMA ($1.2883) yesterday, but buyers arrived to prevent a close below this indicator, and we have seen some further bullish momentum this morning that increases the chance of a renewed move higher in the uptrend from the September lows.

This would bring $1.315 into view. A move below $1.286, support over the past three weeks, is needed to hand the initiative to the sellers.

USD/JPY weakens after three-day gain

Here the price of USD/JPY rallied off the lows of last week, but already what limited bullish momentum there was is slipping away.

A rally towards ¥105.00 yesterday found sellers ready to push the price lower, with some follow-through this morning. With momentum still weak a reversal below ¥104.50 could mark another push lower that takes the price below ¥104.00, a level of support since the end of July.


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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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1 24/7 excludes the hours on Saturday from 2am to 12pm (Dubai time), and 20 minutes just before the weekday market opens on Monday morning.
2 As awarded at the ADVFN International Financial Awards 2020 and Professional Trader Awards 2019.

There aren’t two choices in this election, there are 17,000

In the vote, there are two possible outcomes – in the markets there are thousands. Be ready to seize opportunity:

  • Trade Wall Street, EUR/USD and GBP/USD 24/71
  • Get an edge with our award-winning platform and mobile apps2
  • Find the latest trading tips on our election hub Find the latest trading tips on our election hub

1 24/7 excludes the hours on Saturday from 2am to 12pm (Dubai time), and 20 minutes just before the weekday market opens on Monday morning.
2 As awarded at the ADVFN International Financial Awards 2020 and Professional Trader Awards 2019.

There aren’t two choices in this election, there are 17,000

In the vote, there are two possible outcomes – in the markets there are thousands. Be ready to seize opportunity:

  • Trade Wall Street, EUR/USD and GBP/USD 24/71
  • Set price alerts for significant movements
  • Get trading tips on our election hub

1 24/7 excludes the hours on Saturday from 2am to 12pm (Dubai time), and 20 minutes just before the weekday market opens on Monday morning.

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