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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 70% 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 and GBP/USD make gains against the dollar while USD/JPY moves higher​

The euro and sterling make gains against the dollar, while the dollar is also on the up against the yen.

EUR/USD Source: Adobe images
Forex United States dollar Japanese yen EUR/USD USD/JPY GBP/USD
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

​​​EUR/USD back at recent highs

EUR/USD rallied from the lows of the past two days, and has made further gains in early trading today.

​A close above $1.096 marks a new bullish move and puts the price on course to target $1.10. Sellers will need a close back below $1.09 to suggest some more weakness after Friday’s surge.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

​GBP/USD tries to form a low

​After being knocked back from its gains yesterday, the price has moved higher.

​However, while a higher low is still a possibility here, it will need more than one day of gains. GBP/USD has been unable to manage this over the past month, with intraday bounces failing to carry over into the new session. Until this changes, the sellers remain in control.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

​USD/JPY edges up

USD/JPY continues to recover from its lows for the time being, and while it finished off its highs yesterday it has managed to push higher overnight.

​For the moment it has avoided any sustained reversal, though a close back below ¥144.00 might suggest a new leg lower has begun.

USD/JPY chart Source: ProRealTime
USD/JPY chart Source: ProRealTime

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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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