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. See full non-independent research disclaimer and quarterly summary.
EUR/USD pushing higher once more
EUR/USD is rallying once more following a shallow retracement into the $1.0702 support level yesterday. The pair has been in a long-term uptrend since the turn of the year and this looks to be back in play following the weakness evident towards the end of March and beginning of April.
Now that we have broken higher from the 76.4% base it looks like we are likely to keep trending upwards given the relative lack resistance up ahead. As such, further gains seem likely from here, as long as we do not see a break back below $1.0702.
.jpg)
