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. See our updated Privacy Policy here.



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
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
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • Further your forex knowledge and gain insights from our expert analyst @ @MartinSEssex and @DColman on EUR with our free Q4 market analysis guide, available for free today. #Dailyfxguides
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • RT @Stephanie_Link: 84% of $SPX companies have beaten EPS estimates to date for Q3, which is tied for the 3rd highest percentage since 2008…
  • What is #NFP and how can you trade it? Find out:
EURUSD May Break Key Support if PMI Data Fuels ECB Rate Cut Bets

EURUSD May Break Key Support if PMI Data Fuels ECB Rate Cut Bets

Dimitri Zabelin, Analyst


  • Eurozone PMI data may undershoot expectations, fuel ECB rate cut bets
  • EURUSD as a result may puncture lower lip of critical support channel
  • Traders may wait to commit capital before ECB rate decision, outlook

See our free guide to learn how to use economic news in your trading strategy!

EURUSD may fall if Eurozone PMI data misses estimates and fuels rate cut bet expectations ahead of the ECB rate decision this week. Economic data out of the Eurozone has been tending to underperform relative to economists’ expectations, with inflationary pressure remaining disappointingly tepid. A sour reading may lend credence to the notion that more accommodative policy may be required to boost economic activity.

The IMF’s recent publication of the updated economic outlook certainly supports the notion of the need for looser credit conditions. Following the release of the report, overnight index swaps showed a modest increase in ECB rate cut probabilities. However, given the scope and magnitude of the ECB rate decision, volatility may be relatively muted by traders’ hesitancy to enter a position prior to the central bank outcome.


At the time of writing, the pair is sitting on the lower edge of the 18-month resistance-turned-support channel. The lack of follow through suggests traders may be hesitant to feel confident in a particular price direction prior to what could be trend-defining catalysts. Traders will likely find themselves waiting for the assurance of a daily close with follow through before entering a short position or increasing exposure.

Chart Showing EURUSD


--- Written by Dimitri Zabelin, Jr Currency Analyst for

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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