CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

​NFP-fuelled dollar rally likely to fade in EUR/USD, GBP/USD and USD/CAD

NFP-fuelled dollar surge looks to have run its course for EUR/USD, GBP/USD, and USD/CAD.

EUR/USD regaining ground after sharp decline

Friday saw EUR/USD decline sharply off the back of a strong set of US jobs numbers. We are starting to see some of that move reversed today, with the pair regaining some ground ahead of a big week of economic and political events.

Watch out for $1.1066 resistance up ahead, with a break through there pointing towards further short-term upside. Given the medium-sized retracement seen over the course of Friday, a break back below $1.1039 would signal a deeper move coming to pass.

GBP/USD breaks into another fresh high

GBP/USD has continued its ascent, with the pair breaking through the $1.3166 peak from Friday.

This points towards further upside to come, with markets clearly feeling optimistic about the upcoming election. As such, long positions are favoured here, with a break back below $1.31 required to negate this bullish outlook.

USD/CAD turning lower from key resistance

USD/CAD saw a sharp rise on Friday, with a strong US jobs report being enhanced by an unimpressive report from Canada.

However, those gains appear to be subsiding here, with the price having run into the $1.3271 resistance level. With the stochastic seemingly about to roll over from overbought territory, watch for a possible short-term decline today. A break through $1.3271 would be required to negate this potential move.


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