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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
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
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
Gold
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.00% Gold: -0.06% Silver: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FbMAdpa5t3
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.29% 🇦🇺AUD: 0.15% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kUbBMG5fuu
  • LIVE NOW! Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.02%, while traders in US 500 are at opposite extremes with 77.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XN22tIuQHy
  • Japan's Economy Minister Yasutoshi Nishimura: See Japan's economy as gradually recovering, consumption drop not as large as after last tax hike -BBG
  • LIVE IN 30 MIN: Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • The Australian Dollar is vulnerable to volatility on the Fed and UK General Election after Chinese CPI data surprised higher. I discuss the technical outlook in $AUDUSD and $AUDJPY here #AUD #TradeWar - https://www.dailyfx.com/forex/market_alert/2019/12/10/Australian-Dollar-Outlook-in-AUDUSD-AUDJPY-After-China-CPI.html?CHID=9&QPID=917702 https://t.co/ljRFPxpV3F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/BKsK4Zpccw
  • CPI in fact is at its highest point since January 2012 https://t.co/2XPVc7RxbB
  • China CPI and PPI came in better than expected but #AUDUSD isn't really giving much of a reaction, suggesting traders are waiting for the December 15 tariff decision and other major fundamental developments this week like the FOMC rate decision
EURUSD Rally May Extend as Trump Comments Hit US Dollar

EURUSD Rally May Extend as Trump Comments Hit US Dollar

2018-08-21 08:00:00
Martin Essex, MSTA, Analyst and Editor
Share:

EUR price, news and analysis:

  • EURUSD has been boosted by a complaint about US interest rate rises by President Dollar Trump.
  • That trend will likely continue, at least in the short term.

Our trading forecasts for Q3 have been published; you can find the EUR guide here.

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

EURUSD boosted by Trump comments

The Euro has received a boost from comments by President Dollar Trump perceived as an attack on the Federal Reserve for raising US interest rates. His rhetoric has lifted the Euro and other currencies against the US Dollar, and the consequent rally in EURUSD may well continue near-term.

Speaking to the Reuters newsagency, Trump said “I'm not thrilled with his raising of interest rates, no. I’m not thrilled, referring to Federal Reserve Chair Jerome Powell, who was nominated by Trump last year to replace former Fed Chair Janet Yellen.

EURUSD Price Chart, Daily Timeframe (June 28, 2017 – August 21, 2018)

Latest EURUSD price chart.

Chart by IG

As the chart above shows, EURUSD has already rallied from a low of 1.1301 on August 15 to its current levels above 1.15 and that bounce could well continue to 1.1612, where the 50-day moving average sits. If that is broken, an extension to 1.1697 is feasible, the point at which both the 100-day moving average and trendline resistance check in. Beyond that, the July 9 high at 1.1791 would come into focus.

Concerns that low level talks on US-China trade this week will not result in a breakthrough could give the US Dollar a lift but support at the 1.1301 August 15 low should prove strong if EURUSD turns down.

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

News & Analysis at your fingertips.