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 gradually regaining ground
EUR/USD pushed higher from the crucial $1.1616 support level on Wednesday, with the pair reaching a new high. That has continued the recent uptrend and points towards further gains.
While we have seen a pullback since, the price has come into and respected the 76.4% retracement. Thus as long as we do not break back below $1.1616, further upside seems likely from here.