CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Dollar declines continue to dominate for EUR/USD, GBP/USD and USD/JPY

EUR/USD, GBP/USD, and USD/JPY see further dollar declines, but will we see a fightback after such sharp losses?

EUR/USD continues its push higher after latest breakout

EUR/USD looks set to continue its bullish trend following the breakout through $1.1832 resistance. That seemingly paves the way for another period of upside, with a rise through $1.188 providing a fresh bullish signal.

As such, further gains look likely from here as we seek to build on the recent bullish break.

GBP/USD breaks higher after recent consolidation

GBP/USD has see a sharp move higher, with the recent rise through $1.3024 initially providing us with a good clue that such a bullish breakout could be on its way.

With Brexit talks back underway today, further volatility should be expected. While we have seen a minimal retracement overnight, watch for a fresh rise through $1.3177 for a new bullish signal.

USD/JPY head and shoulders likely to bring further downside

USD/JPY managed to break below the ¥104.94-¥105.03 support level yesterday, bringing about a fresh bearish signal by completing a head and shoulders formation. With a bearish trend throughout much of 2020, this breakdown does simply provide the latest move in a long-standing bearish primary trend.

As such, further downside looks likely before long. Whether we see a short-term rebound or not remains to be seen. As such, a break below ¥104.34 would signal a swift continuation of that bearish short-term trajectory. Ultimately, we would need to see ¥105.75 broken to negate this bearish outlook.


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