CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.
Rising US yields have bolstered the dollar, sending EUR/USD, GBP/USD and AUD/USD all downward.
The drop below $1.15 sends a bearish signal for EUR/USD, indicating that we may well see fresh declines.
A rebound towards $1.16 is possible, but any rally that fails to move above yesterday’s swing high is likely another selling opportunity. Further declines target $1.13.
Rallies have been sold into over the past two weeks, so any move that fails to recover $1.3030 would still be another selling opportunity for GBP/USD.
Below $1.2923, the price will target $1.2773 and then $1.2635.
The downtrend continues here for AUD/USD, a lower high at $0.73 having worked out beautifully for the bears.
The price is currently testing the $0.7484 low from mid-September, and further declines below this bring $0.6973 and then $0.6828 into play.
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