EUR/USD, GBP/USD and AUD/USD weakness likely to continue
EUR/USD, GBP/USD and AUD/USD declines ease, yet further weakness looks likely.
EUR/USD sell-off likely to continue
EUR/USD has been hit hard of late, with traders flocking to the US dollar. This is likely to continue, with a break below yesterday's low needed to send this bearish train back in motion.
Should we see any upside from here, it is likely to be stifled by the continued creation of lower highs. Thus, a bearish outlook remains in place unless we see a break through $1.0982 resistance.
GBP/USD consolidates after sharp declines
GBP/USD continues to lose ground, with the pair hitting fresh 35-year lows this week. The price is consolidating this morning, yet it is likely we will soon see further downside to continue the trend.
A beak below the $1.1451 support level would bring the next sell signal, while a rise through $1.1663 would point towards a retracement of the sell-off from $1.2128 level coming into play.
AUD/USD rebound brings potential selling opportunity
AUD/USD has managed to rebound back towards trendline resistance overnight, bringing a potential selling opportunity within a clear downtrend.
A rally through $0.5816 would bring about a more bullish view, yet bearish positions are preferred until such a break occurs.
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.
React to global volatility
Market volatility continues as coronavirus dominates the global agenda. Trade with us to take advantage of:
- Tight spreads – from just 1 point on major indices, and 2.8 on US crude
- Guaranteed stops – they’re free to use, and you’ll only pay a small fee if they’re triggered
- Round-the-clock assistance – our highly-skilled team are on hand to support you
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
