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.

Risk appetite revival lifts EUR/USD, GBP/USD and USD/JPY

Risk appetite has revived, leading to rallies for key FX pairs as the recent jitters about the global monetary policy outlook begin to fade.

EUR/USD rebounds above 50-day SMA

EUR/USD is headed higher once again, having cleared the 50-day simple moving average (SMA) at $1.2156 and now looks set to target the January high at $1.235.

The bullish view has recovered after the uncertainty that persisted from mid-January until this week, but a higher low has been formed and the price is on an upward path once again. Sellers will need to see a drop back below $1.21 and then on to $1.194.

GBP/USD rally keeps on going

There seems to be no stopping the GBP/USD pair, but the yawning gap between the price and the 50-day SMA ($1.37) may become an issue at some point.

A reversal below $1.40 would provide some evidence of a near-term pullback, but for now that has yet to materialise.

USD/JPY surges back to recent highs

The recovery here is complete, and now USD/JPY can look towards a continued bounce that takes it through last week’s highs and towards the August highs at ¥107.

The bullish view is firmly back in place, and sellers have now been shut out once again, having failed to hold the price below ¥105.


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