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 bounces towards bullish view
Last week’s EUR/USD losses gave many the view that we were in the process of seeing a return of the bearish sentiment that was expected to push the pair to parity last year. However, as stressed, we remain within an uptrend here, and the inability to break below 1.1144 signals exactly that.
Current price-action is looking to create a new higher high, should we see a break through 1.1317. That would also confirm the higher low. Should that occur, we would be looking towards the crucial 1.1335 resistance level as next resistance.