EUR/USD, GBP/USD and NZD/USD all gain ground after recent declines
EUR/USD, GBP/USD and NZD/USD are all gaining ground this morning, yet with recent declines raising questions, key upside levels need to be overcome.
EUR/USD continues uptrend as pair surges higher
EUR/USD has been trending upwards over the course of the past fortnight, and despite weakness at the beginning of the week it looks like that trend is back on track.
With the price continuing to move higher, we are looking for a move into the $1.1348 swing high for a continuation signal. This trend is expected to continue as long as we do not break into a new lower low.
GBP/USD regaining ground after break below notable support level
GBP/USD has been regaining ground after a disappointing Monday, with a better-than-expected UK jobs report providing a boost for the pound.
The decline below $1.2668 points towards a possibility that this rally will falter, and thus it makes sense to look for a rise through $1.2763 as a precursor to further upside.
NZD/USD rebounding towards near-term swing high
NZD/USD has been declining sharply since seeing price fall below the $0.6611 swing low.
However, we are seeing a move towards the $0.659 swing high which could be a precursor to further upside to come. As such, the key today is whether we break that $0.659 level or not. Until we see that level broken, there is a good chance we will see the pair turn lower again.
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
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
