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. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.

EUR/USD, GBP/USD and NZD/USD ease back, yet bullish trend remains

EUR/USD, GBP/USD and NZD/USD lose ground, yet wider bullish trend points towards potential revival.

EUR/USD regaining ground after recent declines

EUR/USD has been losing ground over the past week, with the pair moving into touching distance with the $1.1067 lows seen in late December.

That move below the 76.4% Fibonacci support level does signal a potential breakdown in the uptrend seen since the lows on 1 October. However, that trend does still remain intact and thus another bout of upside remains a distinct possibility until we see a break below $1.1067 support.

GBP/USD falls towards ascending trendline support

GBP/USD has been on the slide, with the pair moving towards an ascending trendline dating back to 8 November.

This provides the possibility of a rebound from here, with the wider uptrend intact unless we see a break below $1.2904. As such, today will be dominated by the ability or inability to break this ascending trendline.

NZD/USD weakening, but will Fibonacci support provide bottom?

NZD/USD has been regaining ground after hitting the 76.4% Fibonacci support level, with the wider uptrend pointing towards a potential resurgence after last week’s declines.

However, looking at the intraday declines, we remain within the realm of lower highs and lower lows. With that in mind, we need to see a break through $0.6672 to provide a bullish resurgence signal. Otherwise, a break below $0.554 would bring a bearish continuation signal.

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


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.