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.

FX levels to watch: EUR/USD, GBP/USD, USD/JPY

After some post-FOMC strength, the US dollar is under pressure.

EUR/USD rebounds in early trading

Having dropped sharply in the wake of the Fed decision, EUR/USD has promptly recovered all its losses and is making another attempt to clear $1.14 and hold above the 50-day simple moving average (SMA) of $1.1389.

Near-term targets to the upside are $1.1470, $1.15 and then $1.1554. The pair has built a firm base around $1.13, so above this level dips should continue to be bought.

GBP/USD looks to break higher

Having been knocked back yesterday, GBP/USD is breaking higher and testing the descending trendline from the November highs.

Above $1.27, the price will head to $1.28 and then on to $1.29. Dips towards $1.26 may prove to be fresh buying opportunities.

USD/JPY hits fresh lows

USD/JPY has broken below the ¥112.20 support area, and while a rebound from intraday oversold levels is possible, it looks like this will be another selling opportunity.

Downside targets now lie at ¥111.40 and then the 200-day SMA at ¥110.87.


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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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