EUR/USD and GBP/USD rally as USD/JPY falters
In the wake of Jackson Hole the dollar has weakened, allowing EUR/USD and GBP/USD to move up while holding back USD/JPY.
EUR/USD surge keeps on going
The rebound with EUR/USD continues, marking a strong recovery from the lows of two weeks’ ago.
Further gains head towards trendline resistance from the June peak, and then on to $1.19 and $1.196. Sellers have yet to see much in the way of a decisive break lower, and will have to wait to see whether bullish momentum begins to ease in coming sessions.
GBP/USD heads to trendline resistance
The bounce of the past week with GBP/USD has neared trendline resistance from the August highs, which could point towards a renewed turn lower, but for the time being the sellers remain firmly in control.
Further gains target $1.385, and then on towards $1.40. At present there is little price action to suggest a near-term lower is at hand.
USD/JPY edges back from Monday gains
A turn lower with USD/JPY in early trading reverses some of Monday’s gains, and raises seller hopes that the price may move below the lower bound of the current triangle formation, amplifying the bearish view.
Alternately a recovery above ¥110.20 would put the buyers back in charge.
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.
