EUR/USD, GBP/USD and AUD/USD expected to gain further
EUR/USD, GBP/USD, and AUD/USD look likely to gain further despite short-term consolidation.
EUR/USD breaks into fresh two-year high
EUR/USD has continued its rise following last week's Federal Open Market Committee (FOMC) volatility, with the break through $1.1883 ultimately providing a signal that we were likely to continue the bullish trend of recent weeks.
Now that we have seen a new high above $1.1965, there is a chance we could roll back for another wider retracement at some point. However, the key is to follow the short-term trend, with a bullish outlook in play until we see a break below the $1.1925 swing low.
GBP/USD trending higher as we hit multi-month highs
GBP/USD has similarly been on the rise, with the price trading at eight-month highs. Crucially, we are approaching the critical $1.3515 resistance level, where a break above that point would bring about a two-year high.
With the price back at trendline resistance, we could see some weakness come into play over the short term. However, whether we see a short-term pullback or not, a bullish outlook is in play unless the price breaks below the $1.3356 swing low.
AUD/USD consolidating within uptrend
AUD/USD has been consolidating this morning despite significant losses on the ASX 200 in response to the Chinese arrest of a Australian journalist.
Nevertheless, despite continued tensions between the two sides, AUD/USD looks primed for further upside given the uptrend in play over the months. In the short term, we also have a clear uptrend in play, with further upside looking likely unless we see a break through the $0.7366 lows established overnight.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
