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 head lower on stronger dollar

EUR/USD, GBP/USD, and AUD/USD head lower, as traders continue to favour the dollar in the face of major uncertainty.

EUR/USD continues its decline, as we head towards key support

EUR/USD has continued to drive lower as we head into a historical week, with the pair approaching the September support level of $1.1612.

A break below that level provides another wider bearish signal for the pair. However, for now it makes sense to focus on the short-term bearish pattern as a guide. With that in mind, a bearish outlook holds unless we break through the $1.1704 swing high.

GBP/USD drops into key support after deep retracement

GBP/USD has slumped into the critical $1.2861 support level, bringing a potential end to the uptrend that has played out for over a month now.

The 61.8% Fibonacci resistance level at $1.3174 ultimately appears to have proven too much in the end. As such, the ability or inability to break through this $1.2861 support level will be key in determining the outlook for the forthcoming period.

AUD/USD drops into three-month low

AUD/USD has dropped back into and below the $0.7005 support level, bringing about a fresh three-month low for the pair.

This looks to kick off another period of weakness, with the creation of lower highs expected to drive further downside. As such, a bearish outlook holds here, with a rise through the latest swing high of $0.7072 required to signal a wider retracement coming into play. Until then, further downside looks likely from here.

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.