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 expected to maintain bullish trajectory

EUR/USD, GBP/USD and AUD/USD look set for further upside, as the dollar continues to fall out of favour.

EUR/USD continues to climbs back towards range top

EUR/USD is on the rise once again, with the pair pushing back towards the key $1.192 resistance level. That level represents the top of a range which has restricted the price action for over two months now.

With that in mind, further short-term upside looks likely to bring the price back into that $1.192 level. However, how we react to that level will be key in determining the medium term outlook. A break below the overnight low of $1.185 would be required to bring about a more bearish short-term outlook.

GBP/USD pushes higher ahead of potential Brexit breakthrough

GBP/USD is on the rise as traders prepare for a potential breakthrough in trade talks with the EU. The pair is pushing back towards the recent peak of $1.3313, which provides the key breakout level for the near term.

We are clearly trading within a wider uptrend here, which has been in play for two months now. As such, further upside seems likely, with a break below the $1.3165 level required to signal the beginning of a wider pullback in this pair.

AUD/USD turning towards key resistance once more

AUD/USD is on the rise this morning, with the weakness seen from the $0.734 level yesterday ultimately looking like a retracement before we move higher once again.

The ability to break through $0.734 is important here, with a rise through that level providing a multi-month high. As such, the recent uptrend does point towards further upside from here, yet a break through $0.734 would provide greater confidence to that upside trend. That bullish outlook holds unless we see a move back below the $0.7221 support level.

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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