CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/USD, GBP/USD and USD/JPY continue to move higher

Risk appetite continues to lift key forex pairs, with the countertrend rally in USD/JPY showing no sign of slowing down.

EUR/USD edges back towards recent high

The recovery for EUR/USD goes on, lifting the price back towards the peak seen earlier in the week.

The price has yet to clear the 50-day SMA (simple moving average) at $1.1802, but intraday dips have been taken as buying opportunities, and with stochastics still rising it looks like the path of least resistance is higher. A reversal below $1.17 would be needed to signal that a broader downturn is at play, while additional gains from current levels targets $1.19.

GBP/USD continues to rise despite Brexit fears

GBP/USD has found the strength to rally despite signs of a hardening UK stance in Brexit negotiations.

The price is pushing back towards the top end of recent gains, with the price repeatedly falling back from $1.30 since mid-September. However, with signs of strong buying in recent sessions and still-rising stochastics the momentum remains with the buyers, bolstering the chances of a move back above the 50-day SMA ($1.3032).

USD/JPY breaches 50-day SMA

The USD/JPY pair finds itself in an interesting place, having continued to rally from the September lows.

Previous bounces that have reached the 50-day SMA (¥105.80) or exceeded it, have not lasted long. However for now the buyers remain in control, as rising momentum indicators and a new three-week high for the price shows. A reversal has yet to be seen, but with the downtrend still firmly in place there is still much to be done to avoid this bounce creating yet another lower high.

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

See more forex live prices


See more shares live prices


See more indices live prices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.