Skip to Content
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
More View More
Euro Weekly Price Forecast: Fundamentals, Data Suggest a Terminal Decline

Euro Weekly Price Forecast: Fundamentals, Data Suggest a Terminal Decline

Nick Cawley, Senior Strategist
EURUSD 2-Hour Price Chart

Euro Weekly Price Forecast, Analysis and Chart:

  • German data miss expectations and weigh on the Euro.
  • Inflation and GDP numbers next week are key.

EUR/USD Falls Through Obstinate Support

Five down days in a row, taking a multi-month support level out along the way, spells trouble for EUR/USD going forward. A slew of Euro-Zone and German data this week disappointed and suggests that the single-blocks’ economy remains weak despite calls at the start of the year to the contrary. While the charts remain weak, traders may benefit by waiting for any bounce, however small, before making a trading decision. As the most traded FX-pair, EUR/USD is unlikely to see large swings in price - due to its liquidity – but a slow grind lower looks the likely path of least resistance.

EUR/USD Price Slumps Through Support Ahead of US Jobs Data, Charts Remain Weak.

EUR/USD Price Analysis: Treading on Thin Ice After Dismal German Data

The worry for Euro bulls is that economic data may well get worse before it gets better, and next week’s releases will give traders a better idea of the current weakness in the economy. Next week sees the release of provisional Q4 GDP for Germany and the Euro-Zone and there is a very real chance that this may miss the feeble 0.1% growth expected and come in flat. There is also Euro-Zone industrial production data, which if the recent readings in Germany are replicated, will likely be worse than November’s -1.5%.

Economic Calendar

For all market moving data and events see the DailyFX Calendar

EUR Forecast
EUR Forecast
Recommended by Nick Cawley
Download our Brand New Q1 Euro Forecast
Get My Guide

EUR/USD came under bearish pressure this week from both sides of the pair, with the Euro weakening while the US dollar put in an impressive rally and hit a multi-month high. Big figure support at 1.1000 was taken out with ease while the support zone between 1.0981 and 1.0990 finally broke, and a close under here would add conviction to the move. These levels would then turn to short-term resistance and would only likely be breached if the US dollar weakens. Below here, 1.0926 before 1.0879 if bearish momentum takes a firm grip of the pair.

EUR/USD Daily Price Chart (July 2019 – February 7, 2020)

EURUSD Daily Price Chart
EUR/USD Bearish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 1% -25% -14%
Weekly 13% -25% -11%
Learn how to use Sentiment in your trading strategy
Get My Guide

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on the Euro – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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