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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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. 68% 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.

EUR/USD edges back down as GBP/USD holds steady and USD/JPY pushes higher

While EUR/USD is on the back foot USD/JPY is moving higher, recovering from Monday’s losses.

Source: Bloomberg

EUR/USD drops back

The pair has weakened in early trading, shedding ground and heading back to $1.20. Support may be found around $1.1940 and then $1.1880, while a more bullish view requires a recovery back above $1.21 at the least, with a resumption of gains above $1.2150. At present, given the size of the rally since the end of March, this pullback seems to represent a retracement rather than a much more negative development.

Source: ProRealTime

GBP/USD stuck in range

A narrowing wedge formation over the past four weeks does point towards a potential upsurge in volatility that might finally herald a break out of the $1.3670 - $1.40 box that has remained in place since mid-March.

Source: ProRealTime

USD/JPY resumes its bounce

Some indecision yesterday has been replaced with a recovery today that has put the price back on course to Y109.50 and from there on to Y110.35. Rising trendline support continues to hold, maintaining the bullish view.

Source: ProRealTime

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