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. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD, and AUD/USD on the rise in early trade

EUR/USD, GBP/USD, and AUD/USD regain ground in early trade, yet questions remain as to whether Brexit-fueled gains are reliable enough.

​EUR/USD pushing higher after latest retracement

EUR/USD is on the rise once again, as easing fears over a complete breakdown in Brexit talks help lift sentiment at the start of a new week.

The retracement into the 76.4% Fibonacci level seen last week provides us with a signal that the current move higher is likely to break through $1.2174 in a bid to continue the current uptrend. With that in mind it makes sense to look out for further gains, with a bullish outlook in place unless we see a break back below the $1.205 lows from last week.

GBP/USD rallies into Fibonacci resistance on Brexit hopes

GBP/USD has rallied back into the 76.4% Fibonacci support level, following on from a weekend of Brexit negotiations that saw both sides agree to further talks. Given the risk that the Sunday deadline ultimately drew a line under talks, there is at least a glimmer of hope that they could find an agreement ahead of the year-end deadline.

That hope has led us into Fibonacci resistance, with the reaction to this $1.3397 level (76.4%) likely to be key. A break through the $1.3478 swing high would bring about a move confident bullish outlook, yet there is still significant risk that we create another lower high and turn lower from here.

AUD/USD expected to maintain uptrend

AUD/USD has found resistance at the $0.7572 level following a turn higher in early trade today. With a clear uptrend in play here, it does look likely we will soon enough see another multi-year high for the pair.

As such, it makes sense to look for bullish positions, with a break through $0.7572 providing such a signal. Once such a breakout occurs, stops below the prior swing low (currently $0.752) look attractive as we seek further upside for this consistent performer.

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.