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 looking up
EUR/USD managed to break above $1.1812 yesterday, bringing a more positive outlook for the pair after a deep retracement into the $1.1715 support zone. That provides us with a bullish outlook, with last night’s retracement looking like a precursor to further gains.
We are seeing those gains come to the fore this morning, with a rally up through yesterday’s high of $1.1834 likely in the short term. The next hurdle would be $1.1863. A bullish outlook is in play, as long as we do not break back below $1.1742.