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 recovering as USD/JPY holds firm

The week has begun with the euro and sterling attempting to move up against the dollar, while USD/JPY’s strong run continues.

EUR/USD aims to recover after sharp losses

After suffering losses last week, EUR/USD is attempting to bounce from $1.185.

It will take a big move back above $1.195 to really suggest a low is in, and with prices heavily oversold intraday some form of bounce was to be expected. Still, it may yet form a higher low after the March one, providing some hope for the buyers. Sellers will hope for a resumption of the downward move towards $1.17.

GBP/USD holds $1.38 as it edges up

The price of GBP/USD has edged up from $1.38 in early trading, with a more bullish view still prevailing here for now.

Continued gains back above $1.40 will help restore a bullish outlook in a more defined fashion, while sellers will want to see the $1.38 level broken to the downside.

USD/JPY holds steady in early trading

USD/JPY edged back from last week’s highs but shows no sign of a full-blown reversal, with some gains in recent hours providing a more bullish impulse.

Further gains head towards ¥110.70, with continued USD strength apparently likely in the wake of last week’s Federal Open Market Committee (FOMC) meeting. Bears will need to drive the price back below ¥109.50.


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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