Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

​​EUR/USD, GBP/USD and AUD/USD on the rise after recent retracement

Dollar weakness expected to play out as EUR/USD, GBP/USD and AUD/USD turn higher following a recent retracement phase.

​EUR/USD turning higher from key support

EUR/USD has seen the previous high of $1.185 turn into support, with the pair moving higher in early trade. The recent rally took us into the deep Fibonacci zone and thus it is worthwhile watching the $1.189 and $1.1923 levels as potential resistance on the way up.

For the short term we can see the potential for further upside as we build on the trend of higher lows. As such, a positive outlook holds unless the price falls back below the $1.185 support level.

GBP/USD starts to regain ground after recent pullback

GBP/USD is back on the front foot this morning, as it looks to regain its positive momentum after a deep pullback on Friday.

That retracement provides us with a buying opportunity given the recent uptrend, where a bullish outlook holds unless the pair drops below the $1.3842 swing-low.

AUD/USD on the rise from trendline support

AUD/USD has been lacking momentum of late, with the pair falling back into trendline support on Friday. That trendline has held up, with the price on the rise in early trade today.

That is likely to continue as we move through the day, with the dollar expected to weaken as stocks rise. With that in mind, short-term gains look likely to take us back towards trendline resistance, with a break back below the $0.7329 swing low required to negate that bullish outlook.

This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.

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