CFDs are complex instruments. 74% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. 74% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and AUD/USD expected to fall once gain

EUR/ USD, GBP/USD and AUD/USD look set for further losses, with recent gains proving fleeting.

EUR/USD consolidates after recent rebound

EUR/USD has been consolidating off the back of a sharp rebound over the past week. Coming into trendline and 200-day simple moving average (SMA) resistance, there is a chance we could see the pair start to turn lower.

However, it is worthwhile watching for a break below the $1.1167 low set yesterday. Alternately, a rise through the $1.1249 level would be required to bring about a more bullish picture.

GBP/USD rally unlikely to last, after Fibonacci resistance is reached

GBP/USD managed to rise into the 76.4% Fibonacci resistance level yesterday, marking the top of a short period of gains for the pair.

The sharp losses coupled with the shallow and slow nature of this rise means we are expecting to see the sellers come back in before long. Thus, given the respect of the 76.4% level, it is likely we are going to turn lower from here, with a rise through $1.225 required to negate this bearish outlook.

AUD/USD declines after RBNZ cut, with any rebound unlikely to last

AUD/USD declined sharply overnight, following a 50 basis point cut from the Reserve Bank of New Zealand (RBNZ). That has ramped up expectations of a Reserve Bank of Australia (RBA) rate cut in September, rising from 46.7% to 66.7%.

That decline came after the pair had respected trendline resistance, with the break below an ascending trendline ultimately seeing another leg lower for the pair. We are now seeing a rise coming into play, yet such a move would likely be another retracement and precursor to further losses. As such, while we could see further upside over the coming hours, that would look like a selling opportunity unless we see a break through the $0.6801 swing high.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

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.