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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, EUR/GBP range trade while EUR/JPY hits August 1992 high

​​EUR/USD, EUR/GBP range trade while EUR/JPY hits August 1992 high as Fed Chair Powell reinforces cautious approach to rate cuts.

Yen Source: Adobe images

​​​EUR/USD sidelined

EUR/USD still targets the $1.0852 mid-June high and should do so as long as the 200-day simple moving average (SMA) at $1.0800 underpins.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​EUR/GBP range bound

EUR/GBP range trades above Monday's £0.8440 low, made marginally above the late June lows at £0.8431-30 which offer support.

​Minor resistance remains to be seen at Friday's £0.8478 high.

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

EUR/JPY hits August 1992 peak

EUR/JPY has reached its ¥174.74 August 1992 peak, above which lies a 161.8% Fibonacci extension at ¥175.99.

Minor support lies at the 8 July ¥173.51 low with further potential support to be found at the 24 June high at ¥171.44.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

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