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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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.

FX levels to watch – EUR/USD, GBP/USD, USD/JPY

Dollar strength seems to be returning, limiting upside for sterling and the euro, and lifting USD/JPY.

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EUR/USD continues lower

After breaking the rising trendline from the lows of last week, further declines may be in store for EUR/USD.

The $1.1915 level is providing some support, but a break of this brings $1.1822 into play. Above $1.20, the $1.2092 and $1.2165 levels are possible.

GBP/USD still stuck in range

GBP/USD’s attempts to break above $1.36 have been defeated again, and it is now heading down towards the bottom end of the current range, i.e. $1.3458.

Until a close below one of these two areas occurs, the range looks likely to persist.

USD/JPY mulling over a breakout

USD/JPY’s steady ascent has continued, with the dips over the past three weeks simply providing a chance for new long positions.

The pair is now eyeing up the area around ¥110, as a breakout above here would likely put fresh bullish momentum into it. 

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