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 stuck fast, as GBP/USD and USD/JPY move higher

The euro is unable to rally against the dollar, but the pound is able to move up against the greenback and USD/JPY makes further strong gains.

Transcript

EUR/USD clings to recent lows

EUR/USD continues to struggle around $1.17, having seen gains above this level last week fizzle out. So far any bigger move lower continues to elude the sellers, with a defence of $1.17 holding the pair in place.

We wait for a bigger move above $1.175 or below $1.166 to provide the indication of the next directional move.

GBP/USD stages a recovery

Signs of GBP/USD bullish momentum have developed over the past two sessions, as the price builds on Monday’s gains with a push back above $1.37.

Further gains would target the 50-day simple moving average (SMA) at $1.379, and then on to $1.385.

USD/JPY targets August high

Further gains for USD/JPY have carried to the highest level in months, any ¥111.60 looks like it will be tested in due course.

This powerful leap higher has broken the summer range and puts buyers firmly in charge, opening the path to additional upside beyond the late June high.


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.