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 showing signs of bottoming out
EUR/USD is regaining ground this morning, with the pair showing signs of a bullish reversal after recent losses. The $1.1804 -$1.1810 resistance zone is going to be important as a hurdle which, if overcome, could pave the way for a period of upside.
As such, look out for an hourly close above $1.1810, which if achieved would provide a bullish outlook. Should that occur, a break below $1.1772 would be required to negate that bullish view.