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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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, GBP/USD and AUD/USD look primed for another push higher

EUR/USD, GBP/USD and AUD/USD look to continue its recent uptrend, with a brief pause in looking likely to result in another move higher here.

EUR/USD rising back into Fibonacci resistance

EUR/USD has been consolidating of late, with the price struggling to break through the confluence of the 200-day simple moving average (SMA), 61.8% Fibonacci, and late-August low of $1.1664.

A rise through that level would bring about a likely move back towards the 76.4% Fibonacci resistance level of $1.1701. However, the wider downtrend does point towards a potential period of weakness in the not to distance future. A break below the latest swing long (currently $1.1617) would bring that wider bearish trend back into play.

GBP/USD on the rise after recent pullback

GBP/USD has been gaining ground over much of the past month, with the price pushing towards the crucial $1.3913 resistance level. A break-up through that September peak would end the wider trend of lower highs that has been playing out in recent months.

The move back below $1.3742 support on Friday does provide a slight warning sign that this recent rally could start to roll over. However, it makes sense to watch for a closed candle below those levels to bring greater confidence that such a move is coming into play. Until then, the short-term uptrend looks likely to remain dominant.

AUD/USD turning higher after retracement phase

AUD/USD has been an outperformer of late, with the price rising through $0.7478, resistance to bring about a three-month high on Thursday.

With the price having been on the back-foot since that Thursday high, we are seeing the price start to turn higher once again here. A rise through the $0.7512 resistance level brings a signal that we are set to push back towards that peak of $0.7546. As such, a bullish outlook holds unless the price breaks back below the $0.7378 swing low.

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.

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