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.

EUR/USD, GBP/USD and USD/JPY all on the up

Major FX pairs are seeing a recovery in risk appetite, as investors look for opportunity as coronavirus fears recede.

EUR/USD finally breaking higher?

The EUR/USD has edged lower over the past two sessions, but may finally be pushing higher, as it breaks out of a triangle formation.

The next target to the upside would be $1.11, while a reversal below $1.103 would suggest that the sellers are back in charge, and will retest the crucial $1.10 area of support.

GBP/USD stages recovery

GBP/USD recovered from Monday’s heavy losses and has steadily pushed higher since then.

A renewed attempt to clear trendline resistance from the late-December high is underway, as the price targets $1.313. A bearish view requires a close below $1.295, something that has been staunchly resisted over the past month.

USD/JPY surges along with equities

The rebound in risk appetite has been seen in USD/JPY as well.

The pair has surged through the ¥109.30 zone, the previous lower high at the end of January and has also rebounded off the 200-day simple moving average (SMA) of ¥108.40. Further gains target ¥110.00, and then ¥110.30, the former being trendline resistance and the latter being the mid-January peak.


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