Jump to content

Risk appetite recovers, lifting EUR/USD, GBP/USD and USD/JPY


Recommended Posts

A calmer atmosphere has seen risk appetite boost the euro and sterling against the dollar, lifting USD/JPY.

 
 

EUR/USD holds at trendline support

After falling back last week the price has begun to recover with EUR/USD, finding support at the rising trendline from the lows of late January. The run of lower highs since the beginning of the month means that a rally above $1.135 would mark a change and a potential break to the upside. This would bring the February high at $1.149 into view.

A reversal back below $1.13 would see a break of trendline support and revive the bearish view.

EUR/USD chartSource: ProRealTime

GBP/USD looks to push higher

Tuesday’s bounce with GBP/USD has put the buyers back in charge, although they must now push the price on above $1.363, which has marked the limit of gains since the beginning of the month. If this cannot be broken then further sideways movement may result.

A move back below $1.355 would potentially mark the beginning of a deeper turn lower.

GBP/USD chartSource: ProRealTime

USD/JPY recovers 50-day MA

The bounce yesterday with USD/JPY put the price back above the 50-day simple moving average (SMA) at ¥114.86. A higher low may form, and provide a further bullish impulse that may bring ¥116.00 into view.

Today has seen the price open above trendline resistance from the February peak, bolstering a more bullish view. It would require a reversal back below ¥114.50, reversing Tuesday’s gains.

USD/JPY chartSource: ProRealTime

Chris Beauchamp | Chief Market Analyst, London
23 February 2022
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • This is the E1 contract from an IG France account. All the best, KoketsoIG
    • Dear @cate, We're sorry to hear you didn't like the new platform. The old platform is being decommissioned, so we recommend using the new one. You can find the same markets by using the search function. For example, when I typed 'crude oil' on both platforms. To select the desired contract on the new platform, simply click on the market you want and then choose from the dropdown menu. The E1 contract is only available for Europe accounts, not UK accounts on both platforms. Thanks, KoketsoIG
    • Hi, I've been holding onto the old platform as long as I could, because I really don't like the new one,  but now it's being decommissioned I'm trying to use the new one finally. ☹️  On the old platform I had a choice of WTI either as a 1 euro or a £1 contract, and the same for Gold. But when I search on the new platform all I get is the  £1 contract as well as an absolute ton of ETFs. It doesn't even say it's the £1 version, it just calls itself "spot gold" which is a bit confusing because it looks as though you might be buying a full lot, not just a mini contract. Can anyone tell me how to find the 1 euro contracts, or are they just not available on the new platform? Many thanks, Cate 
×
×
  • Create New...
us