EUR/USD, GBP/USD and AUD/USD likely to maintain bullish trend
EUR/USD, GBP/USD and AUD/USD expected to continue gaining ground as the dollar comes under pressure once again
EUR/USD continues its ascent, with push into multi-year highs
EUR/USD has continued its bullish trajectory as we head into the weekend.
The dollar weakness story has much to do with this recent EUR/USD strength, with the greenback slide showing few signs of letting up. With that in mind, there is likely to be further upside to come for this pair, with a break back below the recent $1.204 support level required to raise questions over the validity of this current bullish outlook.
GBP/USD pulls back from major long-term resistance
GBP/USD has eased back overnight, following yesterdays sharp rally into the highest level in almost a year.
With the September high of $1.3482 and December 2019 peak of $1.3515 coming into play, there are significant hurdles worth noting from here. As such, while the pair has a clear uptrend in play, there are questions on this pullback given the resistance up ahead. A break through $1.3515 would provide a more reliable bullish environment rather than buying on this current retracement. Alternately, a break below $1.3288 would bring a more bearish outlook into play.
AUD/USD likely to rise further after hitting two-year high
AUD/USD broke into a fresh two-year high yesterday, bringing about a fresh two-year high for the pair.
The ongoing intraday uptrend remains intact here, with further upside looking likely as a result. With that in mind, bullish positions are favoured as long as we do not see a break back below the $0.7339 swing low.
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.
