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.

EUR/USD, GBP/USD and AUD/USD run into key resistance

EUR/USD, GBP/USD and AUD/USD gains look at risk, with Fibonacci retracement levels playing a key role in a potential move lower.

EUR/USD turns lower from key resistance

EUR/USD has reversed lower from the $1.1891 resistance level this morning, with the price moving back into the overnight swing low of $1.1865.

A decline through that support level would point towards a wider retracement of the rally from $1.1816 coming into play. As such, watch for a rebound or breakdown from $1.1816 to signal where we go over the day ahead.

GBP/USD faces questions after rally into Fibonacci resistance

GBP/USD has started to turn lower from the 76.4% Fibonacci resistance level this morning, with the recent break below trendline support pointing towards a potential reversal.

As such, watch out for whether we break below the $1.3244 swing low as a gauge of where we go from here.

AUD/USD rallies into 61.8% resistance level

AUD/USD has pushed into the 61.8% Fibonacci retracement level this morning, with the pair starting to weaken once again.

The trend of lower highs seen over the course of the week remains in play until we see a break through the $0.7331 resistance level. To the downside, a break below the $0.7266 level would signal an extension of the recent downward trend.


This information has been prepared by IG, a trading name of IG Markets 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.

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