Forex spread betting video analysis discussing the rise in GBP/USD ahead of the UK Budget and the sell off in EUR/USD following Cyprus’ move to tax deposit holders as part of their bailout plan.
This week Michael Hewson’s video analysis looks at trends, chart patterns, price targets and support and resistance levels for:
- EUR/USD – Fell on Cyprus tax news but remains above 200DMA support at $1.2870
- EUR/GBP – Currently holding above 200WMA support at £0.8520
- GBP/USD – Bullish engulfing chart pattern targets $1.54 if we hold above $1.5070
Spread Betting & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit. Only speculate with money that you can afford to lose. These trading products may not be suitable for all investors so seek independent advice.
Video content by Michael Hewson of CMC Markets.
Content provided by CMC Markets. CMC Markets UK plc and CMC Spreadbet plc are authorised and regulated by the Financial Services Authority in the UK, registered offices, 133 Houndsditch, London, EC3A 7BX.