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.
EUR/USD revival continues
EUR/USD has pushed above the downtrend line from the May highs, continuing an impressive rebound from the $1.13 nadir of August.
The July highs around $1.1750 are likely to provide a zone of resistance, and then $1.1852 comes into play. For the time being the outlook is near-term bullish, but a reversal back below $1.16 could well signal the reassertion of the bearish momentum that has prevailed over the past four months.
.jpg)
