Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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. 69% 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.

EUR/USD, GBP/USD and AUD/USD all aiming for further gains

Risk-on moves in FX have lifted EUR/USD, GBP/USD and AUD/USD.

Video poster image
Transcript

EUR/USD looking to clear $1.22

EUR/USD is edging back to through the $1.22 zone for a second day, having reversed Friday’s losses yesterday.

This leaves it on course to challenge $1.235, the peak from the beginning of the year. Sellers are still waiting for an indication of a move lower, with a drop below $1.21 needed to open the way to more significant downside.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD recovers from mixed Monday

After shaking off some weakness yesterday, GBP/USD moved higher again.

We now look for a move back towards $1.424 and the highs from late February. As with EUR/USD, there is little sign of a reversal, with even yesterday’s small drop being met with buying.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

AUD/USD looking to break higher

AUD/USD continues to find buyers above $0.77, and this, coupled with the slow but steady upward move in place since the end of March, reinforces the bullish view.

We could also see a firm break higher today from short-term trendline resistance from the May peak, as the descending triangle resolves into a bullish move given the continued defense of $0.77 by the buyers.

AUD/USD chart Source: ProRealTime
AUD/USD chart Source: ProRealTime

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Find out more

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

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 provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.