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 at risk of another move lower

EUR/USD, GBP/USD and AUD/USD at risk of further downside, with the bulls seemingly set to take the back seat for the time being.

EUR/USD starts to roll over once more after recent rebound

EUR/USD has been on the rise over the course of this week thus far, with the pair regaining lost ground since Friday’s low of $1.1513.

A break up through the $1.1617 resistance level would bring a more positive picture into play. However, we are instead seeing the bearish trend kick back in here, with the decline below $1.157 highlighting the beginning of a downward turn.

GBP/USD rolling over after recent rebound

GBP/USD has started to weaken after a retracement into the 61.8% Fibonacci resistance level at $1.3593.

The selloff seen over the course of the past fortnight looks like it could soon come back into play, with a bearish trend still relevant until the price rises through the $1.3698 resistance level. Until then, there is a chance we could see the price turn lower and head back towards the $1.3411 support level.

AUD/USD pullback continues as the price hits 4-week low

AUD/USD has continued its decline, with the pair dropping back into a four-week low. However, the wider trend points towards a trend of higher lows, with the recent period of weakness looking like a retracement before we turn higher once again.

For now, we could see further downside in a bid to continue this bearish short-term trend. However, the wider picture does point towards a strong likeliness that the pair turns higher once again before long, with a rise up through the prior swing high (currently $0.7432) required to bring that wider bullish view back into play.

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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.8 pips on EUR/USD
  • Analyze market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on the most popular forex markets

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only

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 forex provider.

Stay on top of upcoming market-moving events with our customisable economic calendar.