The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
EUR/USD continues to build a base for potential recovery
Following a 76.4% retracement of the $1.2205-$1.2556 rally, EUR/USD is continuing to consolidate.
With a subsequent shorter-term intraday 76.4% retracement also coming into play, we are now seeing the price turn higher once more. The ability to break above $1.2353 will provide us with the clues of whether this bullish view will gain traction. An hourly close above that level would bring a bullish outlook, whereas a fall below $1.2281 would bring a more neutral/bearish view.
.jpg)
