Change Language ▼
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage.71% 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.
Financial market research and analysis
Our analysts have their fingers on the pulse of the world's financial market news.
Spread betting and CFD trading are high risk and may not be suitable for everyone. You can lose all your deposits.
19 Aug 2016
By Mauro Fellner
GBP consolidates as Aussie drops
The USDJPY is holding above the 100.00 mark due to a stronger US dollar against its major peers. Failure to hold the ground above the 100 level, could bring the pair to 98.99 (June 24th low). A climb above 101.45 (August 15th high) could attract more bids and pave the way towards 102.65 (August 8th high), before 103.25 (50-day moving average).
Cable consolidates gains at 1.3120 on the back of a broadly stronger US dollar. The first resistance is eyed at 1.3224 (50-day moving average). Breaking above this level could allow a further rise to 1.3372 (August 3rd high). Support is seen at 1.3000/1.2976 (August 17th low), below which, the GBPUSD would step back into its bearish trend and extend losses to 1.2865 (August 15th low).
The AUDUSD retreated by 0.55% in Sydney on stronger US dollar. Intraday support is eyed at 0.7608/0.7600 (August 17th low). Stepping below this level could encourage a further sell-off to 0.7555 (50-day moving average), then to 0.7463 (100-day moving average). Resistance is building at 0.7700 / 0.7755 (August 10th high), if surpassed could trigger a fresh rally towards 0.7834 (April 21st high).
After four day winning streak, Gold consolidates at $1347 on Friday. The first resistance is seen at $1358 (August 16th high), above which, we could expect a further rise to the $1374 top level (July 11th high). The first support can be found at 1329 (50-day moving average). Below this level, we could see a drop to 1310 (July 21st low), and to $1300 mark.
Oil prices have been climbing higher due to a positive sentiment about the OPEC talks. Although today WTI is tanking 0.5% trading at right below $48. Surpassing the $49.32 resistance (July 4th high), the price could rise towards $50 mark, then to $50.51 (June 22nd high). A first support is eyed at $48.00. Below, we could expect a drop to $46.30 (August 17th low).
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please note that 71% of our retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money.
