News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/rOnWgIotlz
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.11% Oil - US Crude: 0.02% Silver: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ENxA7SeIDF
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇨🇦CAD: -0.13% 🇪🇺EUR: -0.13% 🇨🇭CHF: -0.15% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cmUacZR1bK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.12%, while traders in France 40 are at opposite extremes with 74.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WKmgAjSLWR
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/3rXsyuSemd
  • Nasdaq 100 Rebounds as Tapering Fears Ease, Hang Seng and ASX 200 Climb https://www.dailyfx.com/forex/market_alert/2021/06/22/Nasdaq-100-Rebounds-as-Tapering-Fears-Ease-Hang-Seng-and-ASX-200-Climb.html https://t.co/NZxRtj3rNa
  • ANZ Bank sees New Zealand house prices increasing by 0.7% in 2022 - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9ZUHvkEw7R
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/aGz502atu0
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/OibiizbywE
EURGBP Heads for 0.90 Level as Brexit Concerns Resurface

EURGBP Heads for 0.90 Level as Brexit Concerns Resurface

Martin Essex, MSTA, Analyst

EURGBP talking points:

- As Brexit negotiations continue between the EU and the UK, the two sides seem as far apart as ever.

- With EURGBP already at its highest level since November 28 last year, further gains seem likely near term.

Learn how to trade like an expert by reading our guide to the Traits of Successful Traders

Check out the top trading opportunities for 2018 on the DailyFX Trading Guides page

EURGBP heading for 0.90 level near-term

The Pound has come under more pressure against the Euro, with EURGBP reaching its highest level since November 28, 2017, and the cross looks set to reach the psychologically important 0.90 mark near-term as Brexit concerns continue to weigh on the UK currency.

While European Council President Donald Tusk and UK Chancellor of the Exchequer Philip Hammond argue about the future EU-UK relationship after Brexit and whether UK financial institutions will still have access to Europe, EURGBP is currently testing resistance on the daily chart from a trendline joining the October 12 and November 15 highs.

Meanwhile, it is well supported by a second trendline joining this year’s lows.

EURGBP Price Chart, Daily Timeframe (September 17, 2017 – March 7, 2018)

Updated EURGBP price chart showing euro rising against pound

Chart by IG

If the current upward trend in EURGBP continues, the October/November highs at 0.9014 and 0.9033 will be the first targets although they will provide stiff resistance and the cross could well fall back again if they are reached.

In the meantime, GBP is suffering more broadly from a move into safe havens such as gold, the Japanese Yen, the Swiss Franc and US Treasuries as concerns mount about a trade war following the resignation of US President Donald Trump’s economic adviser Gary Cohn, seen as an opponent of protectionism.

The current strength of the Euro-Zone economy was also highlighted Wednesday, with confirmation that it grew by 0.6% in the final quarter of last year compared with 0.4% growth in the UK. The gap between the EU and the UK was highlighted too by draft EU guidelines for ties with the UK after Brexit that will likely be unacceptable to the UK.

RESOURCES TO HELP YOU TRADE THE MARKETS

Whether you are a new or an experienced trader, we have manyresources available to help you:IG client sentiment data, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve your trading performance, and one specifically for those who are new to forex.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES