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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.

EUR/USD slides while EUR/GBP and EUR/JPY rally

​​​EUR/USD slides while EUR/GBP and EUR/JPY rally​ ahead of Thursday’s BoE meeting.​

Euro Source: Getty Images

​​​EUR/USD comes off resistance

EUR/USD has been rejected by the $1.07 to $1.08 resistance zone and is expected to slip further towards the $1.07 region over the coming days. While the early May low at $1.06 underpins, the recent uptrend remains intact, though.

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

​EUR/GBP continues its ascent

EUR/GBP remains short-term bid and has now reached the 200-day simple moving average (SMA) at £0.86. Further up beckons the £0.86 April high. Minor support now comes in at the 3 May high at £0.85.

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

​EUR/JPY on track for third straight day of gains

EUR/JPY is gunning for the ¥167.22-38 zone and retains an immediately bullish bias while it remains above Tuesday's low at ¥165.65 on a daily chart closing basis.

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

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.

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