Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 72% 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. 72% 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 falls back as GBP/USD moves higher, while USD/JPY holds steady

EUR/USD is heading back to trendline support, while the pound has made some gains against the dollar following UK CPI figures.

Euro Source: Bloomberg

EUR/USD falters after gains

EUR/USD has returning to trendline support, holding above the 50-day simple moving averages (SMA) for now.

This week’s reversal, accompanied by a potential bearish moving average convergence/divergence (MACD) crossover, points towards a lower high that revives the downtrend of the past year.If the price breaks below $1.13 the bearish view will be strengthened once again, and the price could head back towards $1.1186. A bounce from the 50-day SMA would head back towards $1.14.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD moves up after losses

After reversing for three days the GBP/USD price has edged up, but short-term decline remains in place.

A reversal back above $1.362 would mark a short-term break to the upside, targeting the previous lower highs at $1.366 and $1.368. Further declines would bring $1.358 into view, and potentially mark a continuation of the downtrend seen since the end of last week.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

USD/JPY stalled after volatile Tuesday

The expected rebound has not yet materialised, with sellers hitting the USD/JPY (大口) price to stall any further progress. The price is stalled at present, but continues to hold above the 50-day SMA (¥114.34).

For now the outlook is neutral, with a move back above ¥115.00 likely to revive the bullish view. Meanwhile a more bearish view would develop with a drop below ¥114.00, although even then Friday’s low at ¥113.48 would still need to be broken to open the path to more downside.

USD/JPY Source: ProRealTime
USD/JPY Source: ProRealTime

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

Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

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.