Forex Spread Trading: EUR/GBP Set for First Positive Day in 13 Days as Euro Edges Ahead 0
After yesterday’s severe reversal from the highs, spread betting markets are pushing higher again. Leading the charge is the EUR/USD with the pair up 0.51%, in line with S&P 500 futures.
The AUD/USD suffered one of the biggest intraday reversals yesterday, but managed to close up on the day and is pushing higher again this morning.
Trading Today
Today we have UK current account data at 09.30 with a big increase in the deficit down to -5.6bn.
UK Unemployment claims are released at 13.30 with a slight rise expected.
EUR/GBP Fixed Odds Trading Idea
The EUR/GBP Spreads is set for its first positive day since the 9th as the euro edges ahead of other currencies. The extended trend has been quite out of character which may make the rebound more powerful.
A way to trade this might be a HIGHER trade predicting that the EUR/GBP closes above 0.8375 in 7 days time for a potential return of 199%.
Editor’s note: If you lose a fixed odds trade, you will lose 100% of your stake.
The Markets Yesterday Afternoon
Markets have fully reversed the morning’s rally after bigger than expected ECB borrowing levels spooked markets.
The concern is that banks are in more trouble then previously supposed, though this is no more than speculation at the moment.
In FX spread trading, the AUD/USD shows the reversal well today.
Before trading with spread betting, CFDs or financial fixed odds ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved. These products may not be suitable for all investors, seek independent financial advice where necessary.
Note that spread betting and CFD trading carry a high level of risk to your capital and you can lose more than your initial investment.
The Financial Fixed Odds update by David Evans, Market Analyst, BetOnMarkets.
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