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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FX levels to watch: EUR/USD, GBP/USD, USD/JPY

The dollar is on the up again after the US employment report pointed towards stronger wage growth.

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EUR/USD testing $1.15 again

Friday’s jobs data knocked EUR/USD back to the $1.15 support level, with a further test of this level this morning.

Fresh declines would target the $1.13 level. A move above $1.1660 is needed to suggest a broader move higher is underway, and even then it needs to clear $1.18, which has limited progress since the end of June.

GBP/USD headed lower once more

Another Brexit-related spike on Friday was swiftly defeated, and the GBP/USD price has headed back to $1.29.

Below this, $1.2773 and then $1.2635 come into play. A close above $1.3040 is needed to create a more bullish impression.

USD/JPY fails to recover ¥112.00

While we did see a recovery on Friday, USD/JPY has yet to move above the important ¥112.00 area.

Only such a move will create a more bullish impression. Further losses would bring the ¥110.50 support area into view, and then down to ¥109.80.

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