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 reverse lower

EUR/USD, GBP/USD and AUD/USD likely to reverse lower after early dollar declines.

​EUR/USD downtrend likely to persist despite early strength

EUR/USD is on the rise this morning, coming off the back of another bout of downside on Friday.

That continues the current intraday downtrend, with lower highs taking place time and time again. With that in mind, this current rise is likely to falter once more, while a break through the $1.1254 level is required to negate this outlook.

GBP/USD rebound provides another shorting opportunity

GBP/USD is similarly on the rise in early trade, coming off the back of a week of losses that took the pair into a fresh three-week low.

That bearish trend is likely to continue, with the pair already starting to show signs of weakness. As such, a bearish outlook is in play, with a break through the $1.2456 level required to negate this outlook.

AUD/USD rallies into Fibonacci resistance

AUD/USD has rebounded into the 61.8% Fibonacci resistance level this morning, with the pair starting to show signs of weakness.

Short-term declines highlight the potential for further weakness from here, with a bearish outlook in play unless we see a break through the $0.6911 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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