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 break through low could bring short-term downside
EUR/USD pulled back below the $1.1837 level overnight, with the price moving into trendline support.
However, despite that trendline holding, there is a good chance we could see further downside in the short term. As long as we do not see the price move back above $1.1920, then a bearish short-term outlook is in place.