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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here:
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead:
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here:
  • Continuation patterns can present favorable entry levels to trade in the direction of the prevailing trend. Use continuation patterns in your technical analysis here:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
Euro Sinks on ECB: EUR/USD Fresh 2020 Lows, EUR/JPY Tests 121.00

Euro Sinks on ECB: EUR/USD Fresh 2020 Lows, EUR/JPY Tests 121.00

2020-01-23 15:32:00
James Stanley, Strategist

Euro Talking Points:

Euro Falls Around ECB Rate Decision

It was another morning without much clarity from the ECB as new President Christine Lagarde settles in to the top spot at the bank. Perhaps one of the biggest takeaways from this morning’s press conference was the announcement that the bank is looking to launch a review of their inflation policy, which would be the first since 2003.

Another item of interest and something to keep on eye on is the bank’s willingness to move head-first towards combatting climate change. Given the lack of precedence, its difficult to know exactly what this might entail for ECB policy, particularly considering the continued struggle with slow/non-existent growth, lacking inflation and growing balance sheet.

The net impact of this morning’s rate decision was a fresh 2020 low in EUR/USD, although sellers haven’t yet had much room to run after testing below a big zone of well-weathered, confluent support.

EUR/USD Daily Price Chart

eurusd daily price chart

Chart prepared by James Stanley; EURUSD on Tradingview

Moving forward, bearish approaches could be complicated by a batch of support levels/zones sitting underneath current price action; key of which is the 1.1000 psychological level that came into play in November of last year before the pair launched up to fresh three-month-highs.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 7% -1% 1%
Weekly 43% 3% 12%
Current Sentiment in EUR/USD
Get My Guide

EUR/USD Eight-Hour Price Chart

eurusd eight hour price chart

Chart prepared by James Stanley; EURUSD on Tradingview

EUR/JPY Trips Down to 121.00

As looked at in this week’s forecast on the Euro, the bearish backdrop in EUR/JPY was a bit clearer given that there’d been some actual trends showing of recent. While EUR/USD has spent the better part of the past few months gyrating within a range (and thus earning a neutral forecast), EUR/JPY launched-higher in early-2020 trade to set a fresh five-month-high, just under the 123.00 level, soon finding resistance. This opened the door for bearish biases in the pair, and sellers have so far taken-control of the matter there.

Resistance showed up via a bearish trendline that was established in March and April of last year, and this level helped to hold the highs last week and sellers began to swing this week, quickly reversing much of that prior bullish trend.

At this point, support potential is nearing via a bullish trendline projection. Below that, the 120 psychological level looms large as this price helped to set support in early-December; and was soundly defended by bulls in the opening days of 2020 trade.

EUR Forecast
EUR Forecast
Recommended by James Stanley
Download our Q1 Euro Forecast
Get My Guide

EUR/JPY Daily Price Chart

eurjpy daily price chart

Chart prepared by James Stanley; EURJPY on Tradingview

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

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