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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, GBP/USD, and AUD/USD rise as dollar weakens

EUR/USD, GBP/USD, and AUD/USD surge as we see risk-on sentiment start to take hold ahead of lockdown easing.

EUR/USD Source: Bloomberg
Forex EUR/USD AUD/USD GBP/USD Pound sterling Euro
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​EUR/USD reverses higher

EUR/USD is on the rise, with the pair having completed a bullish head and shoulders pattern this morning.

This points towards further upside to come, yet the consolidation seen throughout the past two months could limit such short-term gains. With that in mind, a bullish short-term view is in play and a break through the $1.1008 level would be required to bring about a wider exit from this consolidation phase.

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

GBP/USD surges higher amid risk-on mode

GBP/USD is also surging higher as the haven dollar continues to feel the pressure this morning.

This brings us back towards a crucial area of resistance, with a break through the $1.2296 level seemingly completing a bullish reversal signal. The breakthrough $1.225 resistance does go some way to highlighting the current strength of this pair, yet key hurdles remain. As such, while we could see further short-term upside, a break through the $1.2296 level is required to bring wider bullish connotations.

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

AUD/USD rallies towards key resistance

AUD/USD is on the rise this morning, with the pair surging into a crucial zone of resistance between $0.6598 and $0.6616.

A break through that zone provides a bullish continuation signal for this pair, as we look to see the wider two-month uptrend carry on. With that in mind, watch out for how we respond to this area of resistance, with a break through $0.6616 providing us with a bullish continuation signal. ​

AUD/USD price chart Source: ProRealTime
AUD/USD price chart Source: ProRealTime

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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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