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 expected to reverse lower after retracement

EUR/USD, GBP/USD, and AUD/USD look likely to head lower following a period of counter-trend gains.

​EUR/USD grinds lower after brief ECB pop

EUR/USD managed to pop into a brief 76.4% retracement after yesterday’s European Central Bank (ECB) meeting, providing a fresh selling opportunity for those with a keen eye.

The downtrend does still remain intact despite that brief spike, with the price falling short of the key $1.1851 swing-high. With that in mind, further downside looks likely from here. A break up through the $1.1851 level would be required to negate that bearish view.

GBP/USD rolling over after upward retracement

GBP/USD is on the back foot this morning, with the pair looking at risk after a period of gains seen throughout Wednesday and Thursday.

The downtrend remains in play unless price breaks up through the $1.391 level. As such, there is a good chance we see the bears come back into play following this 61.8% Fibonacci retracement.

AUD/USD weakening from trendline resistance

AUD/USD has similarly been trying to regain ground of late, with price rising into a somewhat mid-sized retracement level.

Despite that, we have seen a move into a descending trendline, which does highlight the potential to move lower once again here. There is a good chance that we will see the bears come back into play here, with any short-term upside perceived as a retracement unless the price rises through the $0.7503 swing-high. ​

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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