EUR/USD rises while GBP/USD and USD/JPY stuck below resistance
EUR/USD is still pushing higher, while both GBP/USD and USD/JPY have run into resistance.
EUR/USD continues to see gains
The uptrend goes on here, with the EUR/USD price holding above the 50-hour simple moving average (SMA) throughout Wednesday’s session.
It is making a new higher high at $1.095 in the early part of Thursday’s session, while a dip towards $1.085 would provide another higher low. A drop below $1.075 would likely negate the bullish view.
GBP/USD still held below $1.20
The GBP/USD pair has pushed higher from last week’s lows, but a firm push above $1.20 continues to elude it.
Yesterday’s sharp drop found buyers, but momentum has drained away below $1.20. A reversal below $1.16 would provide a more bearish view.
USD/JPY stuck below ¥111.50
For USD/JPY, repeated attempts to push above ¥111.50 have met with failure, and the price is set to test support around ¥110.20.
Below this, ¥109.60 may then come into play. Further upside requires a move above ¥111.50.
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