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 suffers setback while USD/JPY fights to move higher

The euro has fallen against the dollar for the first time in days, while USD/JPY continues to consolidate after recent losses.

EUR/USD suffers setback but uptrend intact

The impressive EUR/USD bounce continues and, while yesterday witnessed some late weakness, we have yet to see the full-blown reversal that might suggest the creation of a lower high.

The move back below $1.115 might begin to signal a turn lower, but as the hourly chart shows for now the uptrend remains in place, with higher lows and higher highs still being created.

GBP/USD still edging lower

GBP/USD has defended the $1.274 level over the past two sessions, but for now remains unable to break higher.

Short-term bounces have run out of steam recently, so any lower high below $1.284 would be another possible selling opportunity. A close above $1.284 would begin to suggest a broader move higher is underway, at least towards $1.30.

USD/JPY builds a base at ¥107.50

The USD/JPY continues to hold above ¥107.50, having stabilised above here at the end of last week.

Further gains above ¥108.50 would mark a more meaningful break higher, and target ¥110.00, with higher lows and higher highs along the way providing further evidence of an uptrend. A move below ¥107.50 brings ¥106.70 into view, the low from early October.

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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