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
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
Oil - US Crude
Mixed
Wall Street
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
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
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
More View more
Real Time News
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here: https://t.co/nJdh9dA1HM https://t.co/peLh7zTTiz
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vs7ypHHwya
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here: https://t.co/Ee9PSppnd2 https://t.co/uaiCiEHBMs
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/OXUgYIl2ru
  • 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: https://t.co/8A1QhwMVKo https://t.co/xncree8XaW
  • 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: https://t.co/EfWEACQ6Cz https://t.co/gGOU1RVQzq
  • 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: https://t.co/EfWEACQ6Cz https://t.co/wrI29FTN41
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
  • 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/46bdHdOmOV
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/6FokpDbL65
EURUSD Price at Risk of Further Heavy Fall

EURUSD Price at Risk of Further Heavy Fall

Martin Essex, MSTA, Analyst

EURUSD price, news and analysis:

- EURUSD is in danger of major losses as German Chancellor Angela Merkel faces a tough political battle over migration.

- At the same time, the EURUSD price chart shows the pair at a key support level; if it breaks, further downside will beckon.

Check out the IG Client Sentiment data to help you trade profitably.

Political risks for EURUSD

The current weakness of EURUSD looks likely to extend further as both the fundamental and the technical outlook for the pair appear increasingly negative.

On the political front, German Chancellor Angela Merkel is facing challenges at home and abroad as European leaders meet today, Thursday, in Brussels for a key summit on migration. The issue has led to a row at home with her Bavarian allies in a country where Germany’s failure at the World Cup looks likely to damage confidence off as well as on the football field.

Meanwhile, data released earlier Tuesday showed German consumer confidence, as measured by the GfK market research company, unchanged. However, the outlook for global growth has weakened in recent weeks and risks are skewed to the downside, due in part to increased protectionism, the European Central Bank said Thursday in its latest Economic Bulletin.

Economic sentiment also fell in the Eurozone in June, according to the European Commission, although it was better than analysts had predicted.

EURUSD chart negative too

As for the technical picture, EURUSD is currently sitting on support from a series of lows touched in early November 2017, late May this year and again over the past two weeks. If that breaks, it will be back at levels last seen in July 2017, potentially leading to further falls to the 1.1130 level reached a year ago.

EURUSD Price Chart, Daily Timeframe (March 24, 2017 – June 28, 2018)

Latest EURUSD price chart.

Chart by IG

EURUSD sentiment data point to the downside

As for retail traders’ positioning, at DailyFX we typically take a contrarian view to crowd sentiment, and traders are currently net-long, suggesting EURUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bearish contrarian trading bias.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES