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.

FX levels to watch – EUR/USD, GBP/USD and AUD/USD

The dollar is coming under further pressure, with bullish breaks for the likes of GBP/USD and AUD/USD pointing towards further upside to come.

anonymous

Publication date : 2018-04-13T09:18:28+0100

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EUR/USD resurgence likely to persist

EUR/USD is on the rise once again this morning, following on from a 50% retracement over Wednesday and Thursday.

There is a strong chance we will see further upside come into play given that we are moving upwards from the lower bound of the recent range, pointing towards a return to the $1.2450 region before long. Be aware that this retracement could be deeper, yet any further downside in the near term would be perceived as a buying opportunity, unless we break below $1.2214.

EUR/USD price chart

EUR/USD price chart

EUR/USD price chart

GBP/USD breaks out of triangle formation

GBP/USD has managed to break through both trendline and horizontal resistance, with the price hitting a two-month high this morning.

This provides a bullish continuation picture, with further upside likely over the coming weeks. Given the extended nature of this recent rally, there is a chance of a retracement, which would come if the price breaks below $1.4145. Until then, the short-term picture also looks bullish.

GBP/USD price chart

GBP/USD price chart

GBP/USD price chart

AUD/USD rallies out of falling wedge pattern

AUD/USD is on the rise, with the price also rallying through trendline and horizontal resistance. That push above $0.7785 signals a likely follow through of recent gains, with the wider 76.4% retracement pointing towards a bullish reversal of the losses seen throughout February and March.

The next big hurdle to overcome is the question over whether we are simply retracing some of the sell-off from $0.7916, with 61.8% ($0.7812) and 76.4% ($0.7852) being the key levels to watch for potential sellers to come in. Should we break through those levels, it would go a long way to pointing towards a rally into $0.8136.

AUD/USD price chart

AUD/USD price chart

AUD/USD price chart

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This information has been prepared by IG, a trading name of IG Markets Limited 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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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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