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 and USD/CAD

EUR/USD is continuing to show signs of potential bullish resurgence, while USD/CAD is starting to falter amid a break below trendline and swing low support.

EUR/USD fleetingly rallies through resistance

EUR/USD has managed to push through the $1.1486 resistance level this morning, hitting the highest level for almost two months in the process.

This helps build on the bullish picture which portrays the recent price action as a base-building process before we push upwards. With that in mind, further upside looks likely before long, with a break below $1.1343 required to negate the bullish outlook.

USD/CAD breaks below trendline support

USD/CAD has managed to break below trendline support, with the pair also falling below the $1.3595 swing low in the process.

However, with the price currently respecting the $1.3566 low, we have not yet seen confirmation of a more bearish phase coming into play for the pair. An hourly close below that level would look likely to provide a retracement phase, with a potential fall into the lower ascending trendline from the rising channel exhibited throughout much of November and December.


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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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