Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. 76% 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 USD/JPY all move higher

In the wake of the FOMC decision we have seen gains for EUR/USD, GBP/USD and USD/JPY, as risk appetite revives.

EUR/USD rally continues apace

EUR/USD showing a straight-line move with no sign of slowing, and is on course to test the area just below $1.22 again, as it did in January and February. From there further gains head towards $1.235.

Rising trendline support from the March low has supported the price over the past month, with no sign as yet of a drop below this. A move below $1.2085 could signal the start of at least a short-term retracement.

GBP/USD targets $1.40 again

The price of GBP/USD continues to edge back to the $1.40 area that marks the limit of its gains for March and April. This is a crucial zone that will need to be cleared decisively to open the way to $1.42.

Short-term rising support from the early April low has, like with EUR/USD prevented any significant downside, and sellers would need to see a drop below $1.3875 to indicate a new move down was at hand.

USD/JPY recovers after Wednesday losses

While USD/JPY fell back from its high in yesterday’s session, it has begun to recover overnight, targeting ¥109 once again and pointing towards further gains after the higher low of last week.

The bullish view remains in place unless we see a drop below ¥108 at the least.

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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