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
Wall Street
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
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link:…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average...
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield
EURUSD Price in Danger of Break Lower as ECB Meeting Approaches

EURUSD Price in Danger of Break Lower as ECB Meeting Approaches

Martin Essex, MSTA, Analyst

EUR price, news and analysis:

  • A weak economy could mean a longer wait for the European Central Bank to increase Eurozone interest rates.
  • That suggests the next move in EURUSD could be downwards.

Euro under downward pressure

Against the background of economic weakness in the Eurozone, speculation is growing that the ECB could wait until the fourth quarter of this year or even until 2020 before increasing its benchmark interest rates. The central bank’s current guidance is that rates will be on hold “through the summer” of this year but the weakness of the Eurozone economy suggests that a rise in the third quarter of 2019 is becoming increasingly unlikely.

The meeting Thursday of the ECB’s rate-setting Governing Council will end with it leaving all its monetary-policy settings unchanged but any acknowledgment that downside risks to the Eurozone economy have increased will likely hit the Euro, which has been weakening since hitting a high of 1.1570 on January 10.

EURUSD Price Chart, Daily Timeframe (August 14, 2018 – January 23, 2019)

Latest EURUSD price chart.

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

That has brought it closer to the support line of a rising channel that has contained the price since mid-November last year and a break below it would be a negative signal technically. Further weakness to the 2019 low close to 1.13, touched on January 2, would increase the downside potential and a fall through there would make the outlook more negative still.

Germany’s ZEW research institute reported Tuesday that analysts and investors it had surveyed regarded the current economic situation in the country as the weakest since January 2015. There is also a risk that the current Brexit stalemate could have a knock-on effect on the Eurozone economy, as could the current slowdown of the global economy in general and China’s in particular.

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:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at or on Twitter @MartinSEssex

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