Risk appetite bolsters EUR/USD, GBP/USD and USD/JPY

The euro, sterling and USD/JPY are all rallying this morning, as trade war and election news both provide reason for optimism.

EUR/USD continues to rally

Dip buyers reign supreme for EUR/USD, as the price pushes on above the 200-day simple moving average (SMA) and begins to move through $1.1175 resistance.

Further gains target $1.124, and with a solid uptrend in place on the intraday chart, dips towards the 50-hour SMA at $1.1129 may provide fresh buying opportunities. The price will need to move back below $1.11 to provide a firmer bearish view.

GBP/USD surges on election news

Having surged overnight, GBP/USD is now at its highest level in 18 months.

We can expect some of this move to be reversed in coming days, but the firmly bullish impression remains in place even with a drop back towards $1.32.

USD/JPY looks to break higher

Away from Brexit news, the signing of a US-China trade deal now seems very close, and this has allowed USD/JPY to revive its flagging rally.

The price is back towards the ¥109.55 area that has marked resistance for months, but it looks like we will see further gains that take us on towards ¥110.35. The price looks a touch overextended intraday, but dips towards ¥109.00 may well see fresh buying pressure develop.

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.

Please see important Research Disclaimer.

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

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.