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 suffers setback while USD/JPY fights to move higher

The euro has fallen against the dollar for the first time in days, while USD/JPY continues to consolidate after recent losses.

EUR/USD suffers setback but uptrend intact

The impressive EUR/USD bounce continues and, while yesterday witnessed some late weakness, we have yet to see the full-blown reversal that might suggest the creation of a lower high.

The move back below $1.115 might begin to signal a turn lower, but as the hourly chart shows for now the uptrend remains in place, with higher lows and higher highs still being created.

GBP/USD still edging lower

GBP/USD has defended the $1.274 level over the past two sessions, but for now remains unable to break higher.

Short-term bounces have run out of steam recently, so any lower high below $1.284 would be another possible selling opportunity. A close above $1.284 would begin to suggest a broader move higher is underway, at least towards $1.30.

USD/JPY builds a base at ¥107.50

The USD/JPY continues to hold above ¥107.50, having stabilised above here at the end of last week.

Further gains above ¥108.50 would mark a more meaningful break higher, and target ¥110.00, with higher lows and higher highs along the way providing further evidence of an uptrend. A move below ¥107.50 brings ¥106.70 into view, the low from early October.

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.