EUR/USD, GBP/USD and USD/JPY look to make gains
Risk appetite is recovering, leading to gains for the euro and sterling against the dollar, and for the dollar against the yen.
EUR/USD looks for gains after Tuesday recovery
EUR/USD bulls will be hoping that the bounce from yesterday’s lows marks the beginning of a broader recovery that will renew the move higher from late August and see the pair move back to, and then above, the $1.19 level.
Yesterday saw the price recover from a $1.177 low to end the day flat, providing hope for the bulls. Sellers will want to see this reversed to open the path to $1.165.
GBP/USD targets further gains
After being knocked back on Friday, the GBP/USD's price managed to bounce from $1.38 yesterday, leaving the upward move intact.
Recent gains have stalled around $1.387, so a bigger rebound requires this level to be broken to the upside to open the path to $1.40. The bearish view has been negated for the time being, but would be revived to an extent with a move back below $1.375.
USD/JPY pushes higher
USD/JPY continues to claw back losses after the drop seen last Thursday.
A continued move higher brings ¥110.40 into view, and then on to ¥110.70, where gains have stalled since mid-July. The ascendancy of the bullish view is still only slight, and a move back below ¥109.50 would put the bears in charge for the time being.
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.
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
