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 and USD/JPY

EUR/USD is at a crucial point, having reached the top of the downward channel. Meanwhile, USD/JPY continues to rally.

EUR/USD hits top of the channel

Euro bulls need to be careful, as EUR/USD has hit the top end of the descending channel that has prevailed since the beginning of the year.

A turn lower from here targets $1.1125. A close above $1.136 would suggest that the channel has been broken.

GBP/USD holds its ground

A crucial week for the pound could see some retracement of GBP/USD’s last week late gains.

The pair bounced off support at $1.3204, so if this holds a foundation for further gains could be in place. A close below this targets $1.304.

USD/JPY still on the up

USD/JPY continues to adhere to the rising trendline from the beginning of January.

It has given back some of the gains from the latter half of last week, but a push above ¥111.99 would mark a strong breakout and bring ¥113.63 into play.


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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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