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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​EUR/USD, EUR/JPY and GBP/USD are taking a hit.

​EUR/USD, EUR/JPY and GBP/USD are taking a hit​ as the greenback gains ground amid higher yield environment.​

Dollar Source: Getty Images
Forex United States dollar Japanese yen EUR/USD GBP/USD EUR/JPY
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD falls out of bed

​EUR/USD's failure below its $1.0895 May high and Wednesday's sharp drop neutralize our forecast with the 200- and 55-day simple moving averages (SMAs) being back in play. Further down the April-to-May tentative uptrend line may offer support at $1.0754

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

​EUR/JPY tops out

EUR/JPY is coming off this week's ¥170.79 high, above which lies the ¥171.58 April peak. The cross revisits Thursday's ¥169.30 low, a fall through which could trigger a deeper corrective move lower.

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

GBP/USD keels over

​On Tuesday GBP/USD advance stalled in the $1.28 region with it currently falling towards last week's low at $1.2676. A drop below this low would engage the April-to-May tentative uptrend line at $1.2616.

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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