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 rebounds, yet will it last?
EUR/USD has regained ground overnight, following a sharp fall below the 76.4% retracement. That move has heightened the chance that we are seeing a bearish reversal.
For that bearish shift to be confirmed, we would need a break below $1.1823, while a move back above $1.1995 would raise the likeliness of a bullish continuation.