Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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 expected to fall once gain

EUR/ USD, GBP/USD and AUD/USD look set for further losses, with recent gains proving fleeting.

EUR/USD consolidates after recent rebound

EUR/USD has been consolidating off the back of a sharp rebound over the past week. Coming into trendline and 200-day simple moving average (SMA) resistance, there is a chance we could see the pair start to turn lower.

However, it is worthwhile watching for a break below the $1.1167 low set yesterday. Alternately, a rise through the $1.1249 level would be required to bring about a more bullish picture.

GBP/USD rally unlikely to last, after Fibonacci resistance is reached

GBP/USD managed to rise into the 76.4% Fibonacci resistance level yesterday, marking the top of a short period of gains for the pair.

The sharp losses coupled with the shallow and slow nature of this rise means we are expecting to see the sellers come back in before long. Thus, given the respect of the 76.4% level, it is likely we are going to turn lower from here, with a rise through $1.225 required to negate this bearish outlook.

AUD/USD declines after RBNZ cut, with any rebound unlikely to last

AUD/USD declined sharply overnight, following a 50 basis point cut from the Reserve Bank of New Zealand (RBNZ). That has ramped up expectations of a Reserve Bank of Australia (RBA) rate cut in September, rising from 46.7% to 66.7%.

That decline came after the pair had respected trendline resistance, with the break below an ascending trendline ultimately seeing another leg lower for the pair. We are now seeing a rise coming into play, yet such a move would likely be another retracement and precursor to further losses. As such, while we could see further upside over the coming hours, that would look like a selling opportunity unless we see a break through the $0.6801 swing high.

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

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.