EUR/USD, GBP/USD, and AUD/USD start to ease back after latest gains
EUR/USD, GBP/USD and AUD/USD start to ease back in early trade, yet the possibility of further upside remains.
EUR/USD starts to rolls over after Friday surge
EUR/USD has been clawing back lock ground towards the back end of last week. However, that rise is starting to come under pressure this morning, with the pair looking to potentially create another fresh lower high here.
Price action throughout 2021 thus far has been dominated by the ongoing creation of lower highs, and there is risk of further downside until that pattern breaks. As such, the weakness we are seeing this morning could be indicative of a forthcoming period of downside, with a break through $1.2169 required to negate this bearish outlook.
GBP/USD easing back after latest rally
GBP/USD is easing back in early trade, following the latest push into multi-year highs towards the end of last week.
That provides another timely reminder of the ongoing uptrend in play here for the pair. With that in mind, short-term downside is simply viewed as another buying opportunity, with a bullish outlook in play unless the price breaks below the $1.383 swing low.
AUD/USD settles down after recent surge
AUD/USD surged into the highest level in almost three years, with a rise in commodity prices helping to drive outperformance for the pair. While we have seen a somewhat mixed start to trade today, the trend is clearly defined here.
Thus we are looking likely to see further upside before long, with any near-term weakness providing a potential buying opportunity. That bullish view holds unless $0.7724 is broken.
This information has been prepared by IG, a trading name of IG 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.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
