FX levels to watch: EUR/USD, GBP/USD and USD/JPY
The dollar’s revival has hit EUR/USD and GBP/USD hard, with both moving sharply lower this morning.
EUR/USD knocked by dollar strength
Yesterday’s EUR/USD rally ended with a fresh push to $1.126, with further losses so far this morning.
Below $1.121, the price will head towards possible support at $1.1116. The bearish short-term view remains until we see a higher high created, with the $1.134 level as a near-term target.
GBP/USD pushes lower
The GBP/USD price has created a new lower low in its current downtrend, as the dollar strength hurt sterling hard yesterday and has been in evidence already this morning.
Rallies should continue to be sold until we see a higher high and, for the moment, that requires a move back above $1.295.
USD/JPY rally targets 200-day SMA
Gains continue here as USD/JPY moves on to challenge the 200-day simple moving average (SMA) of ¥111.27.
The ¥111.47 level, resistance in mid-December, is the next area to watch, but the overall trend is resolutely higher.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
