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
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/bDXG2dV3wG
  • The US Dollar technical outlook against the Euro, British Pound, Australian Dollar and New Zealand Dollar are discussed. Large wicks left signs of indecision, will reversals follow? $EURUSD $GBPUSD $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/15/US-Dollar-Technical-Outlook-EURUSD-GBPUSD-AUDUSD-NZDUSD.html?CHID=9&QPID=917702 https://t.co/dpuIppxo3F
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/y3cckNW22W https://t.co/vUQyVl6b0e
  • Growth linked currencies have gained as investors hope for progress on the trade front as well as stimulus from the Fed. The global economy however remains depressed and seems likely to remain so. Get your market update from @DavidCottleFX here: https://t.co/jt1HH9AHLM https://t.co/Yz65AMJYlm
  • RT @YuanTalks: #China temporarily suspend additional tariffs of either 10% or 5% on some #US goods scheduled to take effect on Dec 15, said…
  • The gold-silver ratio is simple. It is the number of silver ounces you would need to trade to receive one ounce of #gold at current market prices. Find out how you can use this in your trading strategy here:https://t.co/kh5DZvv5ib $XAUUSD https://t.co/eJGODpfTNc
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 https://t.co/DoVBd1l1oO
  • #Silver is a precious metal commodity that investors use as an inflation hedge and safe-haven asset. Find out what are some strategies and tips to trade silver here: https://t.co/k4tVcFuwxW #CommoditieswithDailyFX https://t.co/zXCSmH2HLX
  • Markets are trying to maintain a bullish tilt as a new week rolls around, a look ahead at the charts of the #Dow, #DAX, and #FTSE. Get your technical analysis on major world indices from @PaulRobinsonFX here: https://t.co/bYjRDvQsdM https://t.co/mbg0rUbv3K
  • Trade conflict is clearly awful for the broad world economy, but some countries are already benefiting from it. More stand to do so. Spotting them early could be profitable. Get your update on the #tradewar from @DavidCottleFX here: https://t.co/og0VAPAqwm https://t.co/xB8hYUj4OA
EURUSD Price Remains Under Pressure, ECB's Draghi Reiterates Downside Risks

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

2019-03-27 09:50:00
Nick Cawley, Analyst
Share:

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

News & Analysis at your fingertips.