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 rallying from key support level
EUR/USD is moving higher this morning, with the $1.0855 support level holding once more overnight. We are trading within a descending triangle formation over the past week, coming off the back of a sharp rally in response to the French election result. The pair is expected to gain further ground in the near future, but we need to ascertain whether we are going to retrace some of that major weekend gap or not.
As such, look out for an hourly close below $1.0855 for a bearish short-term view, whereas an hourly close above $1.0933 would point towards another leg higher for EUR/USD.
.jpg)
