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 weakness could bring buying opportunity

EUR/USD, GBP/USD and AUD/USD weakness could bring buying opportunities as the dollar looks likely to remain under pressure.

EUR/USD hits four-month high

EUR/USD has managed to break through the $1.1452 resistance level this morning, continuing the uptrend seen through the past month.

The uptrend seen throughout recent weeks provide us with a clear intraday pathway to follow, with a break below the $1.137 level required to bring about a more bearish picture. Until then, further upside looks likely from here.

GBP/USD on the rise after recent declines

GBP/USD has seen a more mixed path over the course of July thus far, with early gains turning into a more choppy period over the week just gone.

A break through the $1.2624-$1.2649 resistance zone would point towards a possible bullish continuation phase coming into play. However, until that happens there is still a chance for further downside to continue this short-term pullback.

AUD/USD strengthening after Fibonacci retracement

AUD/USD has also started to regain ground following some weakness towards the back end of last week.

The respect of the 61.8% Fibonacci support level highlights the potential for another push higher before long, with a break below $6921 ultimately required to break us out of this recent uptrend. As such, another bullish move higher looks likely before long.

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.