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
More View more
Real Time News
  • $EURGBP dropped from 0.8890 to below 0.8860 this morning, pushing to its lowest level since May. $EUR $GBP
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.74% US 500: 0.66% France 40: 0.47% Wall Street: 0.36% FTSE 100: 0.26% View the performance of all markets via
  • The @bankofcanada is widely expected to stand pat on monetary policy with the overnight rate to remain at 0.25% alongside no change in the current pace (CAD 4bn/week) or composition of QE purchase. Get your market update from @JMcQueenFX here:
  • Reports of an explosion heard in Madrid - La Sexta TV Station
  • #Gold dropped quickly this morning, falling from $1,850 to below $1,835 before bouncing back. The precious metal is now trading around $1,850 again. $XAU $GLD
  • $EURGBP at risk of extended losses after breaking to the downside of a 12-month Symmetrical Triangle pattern and slashing through the support range at 0.8865 - 0.8875 A push towards 0.8670 - 0.8690 looks on the cards if sellers hurdle psychological support at 0.8800 $EUR $GBP
  • *Slight move higher in USDCAD
  • $EURCAD fell to its lowest level since the weekend following Canada December CPI print and ahead of the BoC's policy decision. $EUR $CAD
  • Slight move higher in $CAD following lower than expected CPI figures - Average of common, trim and median now 1.6% from 1.7% BoC next up where there have been some suggestion of a micro-cut. Although, analysts are widely expecting policy to remain unchanged
  • 🇨🇦 Core Inflation Rate YoY (DEC) Actual: 1.5% Previous: 1.5%
EUR/USD Threatens 1.20- Downside Targets in Focus on Dovish ECB

EUR/USD Threatens 1.20- Downside Targets in Focus on Dovish ECB

David Song, Strategist

Talking Points:

- EUR/USD Fails to Break 1.20 Even as ECB’s Draghi Talks Up Quantitative Easing (QE).

- USD/CAD Breaks Out of Range; RSI Coming Up Against Overbought Territory.

- USDOLLAR Advance Capped by Weaker-than-Expected ISM Manufacturing.

For more updates, sign up for David's e-mail distribution list.


EUR/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • May only be a matter of time before EUR/USD breaks 1.20 as European Central Bank (ECB) President Mario Draghi sees a risk for deflation; fueling bets for quantitative easing at the January 22 meeting.
  • Downside break in Relative Strength Index (RSI) to favor a further decline in EUR/USD, with the next target coming in around 1.1960-70 (78.6% expansion).
  • May see stops get triggered on a move below 1.20 as the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long EUR/USD since December 16, with the ratio currently standing at +1.63.


USD/CAD Daily Chart
  • Weak crude oil prices may continue to drive USD/CAD higher as Bank of Canada (BoC) Governor Stephen Poloz remains in no rush to further monetary policy.
  • As RSI comes up against overbought territory, a topside push should provide conviction/confirmation for a further advance in dollar-loonie.
  • Next topside objective for USD/CAD comes in around 1.1750-60 (100% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

"Everybody" Hates The Euro Again

Top Trading Opportunities of 2015

USDOLLAR(Ticker: USDollar):





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index






EUR/USD Threatens 1.20- Downside Targets in Focus on Dovish ECB USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar struggling to hold its ground following the batch of dismal data prints; employment component of ISM Manufacturing may help to boost Non-Farm Payrolls (NFP) forecast as the index advanced to 56.8 from 54.9 in November.
  • Nevertheless, long-term outlook for USDOLLAR remains bullish as growing number of Fed officials show a greater willingness to normalize monetary; will have to see how the 2015 rotation will impact interest rate expectations.
  • Despite the lack of momentum to clear 11,623 (100% expansion), the RSI may highlight another topside move in USDOLLAR as the oscillator threatens the bearish momentum & looks to push back into overbought territory.

Join DailyFX on Demand for Real-Time SSI Updates!





Markit Purchasing Manager Index- Manufacturing (DEC F)




ISM Manufacturing (DEC)




ISM Prices Paid (DEC)




Construction Spending (MoM) (NOV)




Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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