Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

​​EUR/USD, GBP/USD and AUD/USD on the rise after recent retracement

Dollar weakness expected to play out as EUR/USD, GBP/USD and AUD/USD turn higher following a recent retracement phase.

​EUR/USD turning higher from key support

EUR/USD has seen the previous high of $1.185 turn into support, with the pair moving higher in early trade. The recent rally took us into the deep Fibonacci zone and thus it is worthwhile watching the $1.189 and $1.1923 levels as potential resistance on the way up.

For the short term we can see the potential for further upside as we build on the trend of higher lows. As such, a positive outlook holds unless the price falls back below the $1.185 support level.

GBP/USD starts to regain ground after recent pullback

GBP/USD is back on the front foot this morning, as it looks to regain its positive momentum after a deep pullback on Friday.

That retracement provides us with a buying opportunity given the recent uptrend, where a bullish outlook holds unless the pair drops below the $1.3842 swing-low.

AUD/USD on the rise from trendline support

AUD/USD has been lacking momentum of late, with the pair falling back into trendline support on Friday. That trendline has held up, with the price on the rise in early trade today.

That is likely to continue as we move through the day, with the dollar expected to weaken as stocks rise. With that in mind, short-term gains look likely to take us back towards trendline resistance, with a break back below the $0.7329 swing low required to negate that bullish outlook.

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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market.

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets 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 spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.