The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
EUR/USD reverses lower from resistance
EUR/USD is once more turning lower, having rallied into the 50% retracement and trendline resistance overnight. We remain within a clearly defined downtrend over the past month and thus we would need to see an hourly close above $1.1217 to negate this trend. As such, a bearish view is preferred for a move back down to $1.1098 support.