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 gaps into new three-month highs
EUR/USD has started the week in a bullish fashion, with the price jumping through the crucial $1.0829 resistance level at the open. The next hurdle to overcome is $1.0874, yet ultimately we now have the required move to lead us to believe that we will see further gains to come for the medium term.
An hourly close above $1.0874 would provide a position where we could see this pair push higher in a meaningful manner, given the distinct lack of significant resistance above that level. We would need to see a break below $1.0760 to provide a more bearish view.