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.

Risk appetite revival lifts EUR/USD, GBP/USD and USD/JPY

Risk appetite has revived, leading to rallies for key FX pairs as the recent jitters about the global monetary policy outlook begin to fade.

EUR/USD rebounds above 50-day SMA

EUR/USD is headed higher once again, having cleared the 50-day simple moving average (SMA) at $1.2156 and now looks set to target the January high at $1.235.

The bullish view has recovered after the uncertainty that persisted from mid-January until this week, but a higher low has been formed and the price is on an upward path once again. Sellers will need to see a drop back below $1.21 and then on to $1.194.

GBP/USD rally keeps on going

There seems to be no stopping the GBP/USD pair, but the yawning gap between the price and the 50-day SMA ($1.37) may become an issue at some point.

A reversal below $1.40 would provide some evidence of a near-term pullback, but for now that has yet to materialise.

USD/JPY surges back to recent highs

The recovery here is complete, and now USD/JPY can look towards a continued bounce that takes it through last week’s highs and towards the August highs at ¥107.

The bullish view is firmly back in place, and sellers have now been shut out once again, having failed to hold the price below ¥105.

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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