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.

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
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
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
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.03% France 40: -0.10% US 500: -0.23% FTSE 100: -0.23% Wall Street: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/th5Y4GcBcR
  • I don't think this has any easier a path to developing into momentum ahead of the Fed decision as bullish efforts elsewhere, but the $DJI Dow is tentatively breaking lower and the Nasdaq-to-Dow ratio usually showing spec reach is rising: https://t.co/eN8xb6JOhW
  • WTI crude oil has room to rally further. Around the 77 mark lies substantial long-term resistance. Get your market update from @PaulRobinsonFX here:https://t.co/J0qpmLG6wF https://t.co/M2sThc69rK
EURUSD Price Struggling as PMI Data Warns of Feeble Q1 EZ Growth

EURUSD Price Struggling as PMI Data Warns of Feeble Q1 EZ Growth

Nick Cawley, Strategist

PMI Data, EURUSD Price, Analysis and Chart:

  • Data suggest tepid Euro-Zone Q1 growth.
  • German export orders fall to a six-year low.
  • EURUSD trapped between initial pivot point support and resistance.

Q1 2019 Trading Forecasts including USD and EUR.

A mixed bag of Euro-Zone PMIs with the services sector picking up and beating albeit low expectations, while the manufacturing sector, especially in Germany, fell sharply lower, adding to ECB policy makers concerns over slowing growth. There has been increased talk of late that the ECB may re-launch TLTROs sooner rather than later to help kick-start the economy.

Commenting on the flash PMI data, Chris Williamson, chief business economist at IHS Markit said: “The Eurozone economy remained close to stagnation in February. The flash PMI lifted only slightly higher during the month, continuing to indicate one of the weakest rates of expansion since 2014. The survey data suggest that GDP may struggle to rise by much more than 0.1% in the first quarter.”

EURUSD Price Struggling as PMI Data Warns of Feeble Q1 EZ Growth

Germany’s service sector drove an increase in overall business activity across the eurozone’s largest member state in February, according to Markit, however the country’s outwardly-focussed manufacturing sector “slipped further into contraction as export orders fell to the greatest extent for over six years”. German Ifo data, out tomorrow, will now come under even closer scrutiny.

DailyFX Economic Calendar

IG Client Sentiment data currently shows retail are 62.5% net-long EURUSD, a bearish contrarian indicator. However, the combination of current sentiment and recent changes suggest EURUSD may move higher.

The EURUSD chart continues to show the pair struggling to break higher, despite the recent weakness in the US dollar. On the one-hour chart the pair are currently bouncing between R1 and S1 pivot points and will likely need fresh stimulus to help break the short-term trading range.

EURUSD One Hour Price Chart (February 8 - 21, 2019)

EURUSD Price Struggling as PMI Data Warns of Feeble Q1 EZ Growth

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on EURUSD – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES