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
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Gold Prices Probe Barrier as Inflation Data Sinks the USD and Yields https://www.dailyfx.com/forex/market_alert/2021/04/14/Gold-Prices-Probe-Barrier-as-Inflation-Data-Sinks-the-USD-and-Yields-.html https://t.co/bdNaQQsMqu
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/R2XfXKiRT5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.65%, while traders in France 40 are at opposite extremes with 80.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gxv7FwyhsM
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.50% 🇦🇺AUD: 0.26% 🇬🇧GBP: 0.16% 🇨🇭CHF: 0.11% 🇪🇺EUR: 0.10% 🇨🇦CAD: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hQBjkAnaA1
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.35% Germany 30: 0.04% US 500: 0.00% FTSE 100: -0.06% Wall Street: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VrybX61UEU
  • British Pound Price Outlook: GBP/USD, GBP/JPY Poised to Extend Climb - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2021/04/14/British-Pound-Price-Outlook-GBPUSD-GBPJPY-Poised-to-Extend-Climb.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP $GBPUSD $GBPJPY https://t.co/rDOIqMJQfk
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/q3hRzYvE7n
  • Despite the rise in US inflation via CPI, the Dollar extended its slide. I'm dubious of the momentum there and the risk on response, but $USDJPY is well positioned for either outcome. Ahead, we have earnings, bank governors and the Senate discussing China https://www.dailyfx.com/forex/video/daily_news_report/2021/04/14/USDJPY-Reversal-Can-Follow-Risk-and-Yield-Scenarios-Earnings-Next-SPX-Spark.html https://t.co/2esFQsVuvx
  • To be fair, crypto is broadly rising (Bitcoin, Etherium, Litecoin, etc), but Dogecoin is pacing the masses. Perhaps Cuban has finally taken the market influence title from Musk https://t.co/nfjApyXNTT
  • RT @mcuban: FYI, the Mavs sales in @dogecoin have increased 550pct over the past month. We have now sold more than 122k Doge in merchandis…
EURUSD Price Remains Under Pressure, ECB's Draghi Reiterates Downside Risks

EURUSD Price Remains Under Pressure, ECB's Draghi Reiterates Downside Risks

Nick Cawley, Strategist

EURUSD Price, Chart and ECB's Draghi:

  • ECB President Draghi remains primed for future risks.
  • EURSUD lower highs prominent in recent sessions.

Q1 2019 EUR Forecast and USD Top Trading Opportunities

The latest ‘Monetary Policy in the Euro Area’ speech by ECB President Mario Draghi in Frankfurt earlier today continues to warn of below target inflation and uncertainty in the global economy. President Draghi highlighted that weakness in world trade has continued, significantly affecting the manufacturing sector, with industrial production in the area falling by 4.2% on the year to December, its largest decline since 2013. Draghi ended his speech by reinforcing his commitment to boost price pressures, saying that the ECB will adopt all the monetary policy actions ‘that are necessary to achieve its objective’, adding that the central bank is ‘not short of instruments to deliver on our mandate’.

This recognition of the current low growth/inflation outlook in the Euro Area will push back any monetary policy tightening further back into 2020 and, in extremis, leaves renewed monetary policy loosening on the table.

EURUSD continues to drift lower and is within one cent of the 22-month low made on March 7 this year. The chart shows six lower highs in a row, discounting Sunday’s candle, while the pair remain firmly under all three moving averages. The 200-day moving average has acted as strong resistance three times in 2019. The downtrend from the start of the year is intact with the only supportive technical signal coming from the CCI indicator which is nearing the oversold (-100) zone.

Euro Weekly Technical Outlook: EURUSD Rejected by 200-DMA Again.

EURUSD Technical Analysis: Euro Set to Test Below 1.12 Again?

EURUSD Daily Price Chart (October 2018 – March 27, 2019)

EURUSD Price Remains Under Pressure, ECB's Draghi Reiterates Downside Risks

Retail traders are 57.3% net-long EURUSD according to the latest IG Client Sentiment Data, a bearish contrarian indicator. Recent changes in daily and weekly sentiment – net-short positions are 32.9% higher than last week - however give us a stronger bearishtrading bias for EURUSD.

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