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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
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
Oil - US Crude
Mixed
Low
High
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
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
USD/JPY
Bearish
Low
High
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 10-year Treasury yield is trading around 1.69%, the highest in almost a week, extending gains from Monday's Wall Street trading session during Tuesday Asia-Pacific hours https://t.co/7OhDTLUvlX
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/Kq86zg3h5I
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.93%, while traders in Germany 30 are at opposite extremes with 75.67%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/H9WcwbmSV6
  • RT @FxWestwater: Swiss Franc Technical Outlook: $AUDCHF, $NZDCHF, $EURCHF Chart Setups Link: https://www.dailyfx.com/forex/technical/article/special_report/2021/04/13/Swiss-Franc-Technical-Outlook-AUDCHF-NZDCHF-CHFJPY-Chart-Setups.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/nad0HJ6N…
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.11% 🇪🇺EUR: -0.17% 🇨🇭CHF: -0.24% 🇦🇺AUD: -0.25% 🇯🇵JPY: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/K654hZ0E0j
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% Wall Street: 0.03% France 40: 0.02% FTSE 100: -0.03% US 500: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GctXdBiB4a
  • (Market Alert) Australian Dollar Outlook: US CPI Eyed as Chinese Trade Data Showed Import Surge $AUDUSD #AUD #China https://www.dailyfx.com/forex/market_alert/2021/04/13/Australian-Dollar-Outlook-US-CPI-Eyed-as-Chinese-Trade-Data-Showed-Import-Surge.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/6FrW2zQ98A
  • Despite the chart in US indices this past Friday, risk trends found no traction to start this week. US CPI may generate more friction (forecasted 2.5%) which likely earns a $EURUSD break and perhaps a GBPUSD range swing. https://www.dailyfx.com/forex/video/daily_news_report/2021/04/13/EURUSD-Outlook-Charged-for-Breakout-with-US-CPI-on-Tap.html https://t.co/EUc9uW7ncY
  • Build you crude oil strategy with some basic key insights. Hone your trading skills here: https://t.co/ekflhEeXRX https://t.co/Di8WONhbPh
  • China March exports growth missed expectations: - Export rise 30.6% in USD terms vs, 38.0% estimate - Import rise 38.1% in USD terms vs. 24.4% estimate - Trade balance at $13.8 billion vs. 52.0 billion estimate
Euro Forecast: EUR/USD Outlook Still Bright After Six Weeks of Gains

Euro Forecast: EUR/USD Outlook Still Bright After Six Weeks of Gains

Martin Essex, MSTA, Analyst
EURUSD Chart

Source: IG Charts

Fundamental Euro Forecast: Bullish

  • After climbing strongly since mid-May, EUR/USD is bound to falter at some point.
  • However, with the US economy spluttering and the November election coming closer, it’s hard to identify any reason why EUR/USD’s advance should end soon.

Euro price outlook still rosy

As the chart below shows, EUR/USD has now made headway for the last six weeks and for nine of the past 11 weeks. After a rise like that there must be a period of consolidation or retracement eventually – the problem is to identify a catalyst, and none jumps to mind.

EUR/USD Price Chart, Weekly Timeframe (December 4, 2017 – July 30, 2020)

EURUSD

Chart by IG (You can click on it for a larger image)

EUR/USD Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 4% 15% 11%
Weekly -20% 33% 6%
What does it mean for price action?
Get My Guide

EUR/USD is already at levels last seen between May and September 2018, with last week’s dire US GDP data for the second quarter and President Donald Trump’s “delay the election” tweet adding to the reasons to stay well clear of the US Dollar. The key question therefore – after when a retracement will come – is just how high EUR/USD could go.

One answer is the area around 1.23, where it traded between late January and mid-April 2018. For sure that’s a long way away but is still a reasonable target for later this year – perhaps after the usual August lull.

Week ahead: PMIs, NFPs

Looking to the week ahead, there is little Eurozone data to move the markets, with only the final manufacturing and services PMIs for the region in July due on Monday and Wednesday respectively. Once again, therefore, it will likely be the USD side of the equation that drives EUR/USD – with Friday’s non-farm payrolls data the pick of the week’s economic statistics.

If you’d like to know more about NFPs and how to trade the release, we have an article here you might find useful

Starts in:
Live now:
Apr 13
( 09:04 GMT )
Recommended by Martin Essex, MSTA
Trading Sentiment
Register for webinar
Join now
Webinar has ended

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me on Twitter @MartinSEssex

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

DISCLOSURES