EUR/USD falls as GBP/USD and USD/JPY move higher
While EUR/USD is still under pressure, GBP/USD and USD/JPY have moved higher again.
EUR/USD still falling
Losses continued for EUR/USD yesterday, with the bearish view being reinforced with further losses that have taken the pair to its lowest level since November.
Price action continues to point towards more declines, with lower highs in place over the past three days. A break of this trend would be needed to establish a more bullish view, along with a move back above $1.19. Further moves to the downside target $1.1615.
GBP/USD begins a recovery
The GBP/USD price recovered yesterday, rallying back above Wednesday’s high and holding the $1.17 area. Further gains target $1.39 and then on to $1.40. This recovery helps to provide more strength for the bullish view.
The bearish view requires a reversal that takes out $1.365, opening the path to more downside that will continue to put a dent in the uptrend of the past ten months.
USD/JPY looks to break higher
The USD/JPY consolidation seen since the early part of March appears to be coming to an end, pointing towards further upside for now, matched with the impending bullish cross in daily stochastics.
The sideways move has ‘reset’ the pair after its February surge, and clears the air for a move higher.
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. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
