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. See full non-independent research disclaimer and quarterly summary.
EUR/USD weakness continues, yet Fibonacci support in view
EUR/USD has been selling off sharply over the past couple of days, coming off the back of a move higher in the early part of the week.
However, given the uptrend in play, there is a good chance that we will see another move higher in the near future. As such, watch out for the 76.4% retracement as a potential bullish reversal point, where a bullish outlook is in play unless we break back below the $1.1773 mark.