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
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/O9GnVplC2c
  • Heads Up:🇫🇷 Unemployment Benefit Claims (JAN) due at 11:00 GMT (15min) Previous: 0.5K https://www.dailyfx.com/economic-calendar#2021-02-26
  • Another run higher in the USD to session highs (90.57), weekly high at 90.60 - AUD/USD testing 0.78 - USD/JPY printing fresh YTD highs
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/BH6Eka6RKG
  • 🇵🇱 GDP Growth Rate QoQ Final (Q4) Actual: -0.7% Expected: -0.7% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2021-02-26
  • 🇵🇱 GDP Growth Rate YoY Final (Q4) Actual: -2.8% Expected: -2.8% Previous: -1.5% https://www.dailyfx.com/economic-calendar#2021-02-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.61%, while traders in GBP/JPY are at opposite extremes with 72.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/b3tuV7OapN
  • Heads Up:🇵🇱 GDP Growth Rate QoQ Final (Q4) due at 09:00 GMT (15min) Expected: -0.7% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇵🇱 GDP Growth Rate YoY Final (Q4) due at 09:00 GMT (15min) Expected: -2.8% Previous: -1.5% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: -0.45% Oil - US Crude: -0.87% Silver: -2.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cXgU6a33I1
EURUSD Price Outlook Cloudy - ECB's Rehn Talks Rate Cuts and More QE

EURUSD Price Outlook Cloudy - ECB's Rehn Talks Rate Cuts and More QE

Nick Cawley, Strategist

EURUSD Price, Chart and Analysis:

  • ECB primed to intervene if economic weakness continues.
  • EURUSD unable to break higher, despite US dollar weakness.

Q2 2019 EUR Forecast and USD Top Trading Opportunities

Keep up to date with all key economic data and event releases via the DailyFX Economic Calendar

Bank of Finland governor and ECB governing council member Olli Rehn is back out on the wires Tuesday reiterating that the ECB stands ready to act, using all tools available, to counter the ongoing economic weakness and stubbornly low inflation in the Euro-Zone. Rehn, a candidate for the upcoming ECB President’s role, said that the central bank is ‘determined to act and stands ready to adjust all of its instruments, as appropriate’. He also noted that ‘external risks to the Euro-Area won’t fade in the near future’.

These instruments include stronger forward guidance, cutting interest rates further, potential changes to bank reserve rates and re-starting quantitative easing (QE). The ECB ended the last QE program at the end of 2018 and a swift re-introduction of the program would highlight the lack of effect the four-year, EUR2.6 trillion+ bond buying program has had on the economy. Growth remains tepid, while inflation expectations are near record lows.

EURUSD price action is currently predicated on US dollar more, more than Euro strength. Post last Thursday’s ECB meeting – where the governing council officially push rates lower for longer – EURUSD touched a peak just under 1.1350 before fading back to its current quote around 1.1318. The pair traded at a 2019 high of 1.1571 on January 10 before sliding lower over the course of 2019. EURUSD remains in overbought territory, using the CCI indicator, and its upside is currently blocked by the 200-day moving average, a long-term indicator that has held firm all the way back to May 2018.

EURUSD Price – Bulls Clash with Technical Resistance

EURUSD Daily Price Chart (October 2018 – June 11, 2019)

EURUSD Price Outlook Cloudy - ECB's Rehn Talks Rate Cuts and More QE

Retail traders are 43.8% net-long EURUSD according to the latest IG Client Sentiment Data, a bullish contrarian indicator. However recent daily and weekly positional changes give us a mixed trading bias.

We run several Trader Sentiment Webinars every week explaining how to use IG client sentiment data and positioning when looking at a trade set-up. Access the DailyFX Webinar Calendar to get all the times and links for a wide range of webinars.

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