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
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sV6ncqn10p
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/xkNb1VIrEN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hxMR9a5jxI
  • Heads Up:🇳🇱 Inflation Rate YoY (APR) due at 04:30 GMT (15min) Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.52% France 40: -1.12% Germany 30: -1.24% FTSE 100: -1.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sAj0aetO3t
  • Retail FX traders (at IG) have pushed up their long $USDCAD position to levels not seen in years which has nudged the net long to approximately 85% of open interest. They are fighting that trend https://t.co/eIOcdLiPik
  • Risk trends is the focus to start this week with the Nasdaq 100 dragging sentiment down through the close of the NY session. My attention is on the Dollar as pairs like $GBPUSD stare down major resistance or reversal: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/11/EURUSD-GBPUSD-and-Nasdaq-Outlook-Key-Levels-and-Events-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/72GGBPMNcw
  • White House monitoring supply shortages in parts of the southeast -BBG
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/RAtsYwpmXl
EUR/USD Price Outlook - Path of Least Resistance Suggests Lower Prices

EUR/USD Price Outlook - Path of Least Resistance Suggests Lower Prices

Nick Cawley, Strategist

EURUSD Price Charts and Analysis:

  • ZEW data – any pick-up will be from a very low level.
  • US dollar strength continues unabated.

Q3 2019 EUR and USD Forecasts and Top Trading Opportunities

EURUSD – Rallies will Find Resistance Difficult to Overcome

The latest indicator of the state of the Euro-Zone economy will be released later this morning and may bring a brief respite to the Euro’s ongoing weakness. The ZEW economic sentiment readings for the Euro-Zone and Germany may nudge higher but from a very low base. Last month’s German reading was the lowest since 2011 at -44.1. This compared to an average reading of 21.6 between 1991 and 2019 and a record low of -63.9 made in July 2008.

German ZEW Economic Sentiment Index – 2009 - 2019

EUR/USD Price Outlook - Path of Least Resistance Suggests Lower Prices

Euro Weekly Outlook: EURUSD Price May Struggle Against Increased Headwinds

On Wednesday the US Federal Reserve are expected to cut interest rates by 25 basis points to 1.75% to 2.0%, but market indicators have pared back expectations marginally. This can also be seen in the US Treasury Market where the yield on the 10-year UST has risen by over 35 basis points in the last two weeks, suggesting demand for the greenback remains strong.

EUR/USD Price Outlook - Path of Least Resistance Suggests Lower Prices

EURUSD continues to move lower and looks to re-test the recent double-low around 1.0926. The pair trade below all three moving averages while the CCI indicator points lower but is not yet in oversold territory. To the upside, resistance remains around 1.1107 ahead of 1.1176.

EURSUD Price Daily Chart (January – September 17, 2019)

EUR/USD Price Outlook - Path of Least Resistance Suggests Lower Prices

The IG Client Sentiment Indicator shows retail traders are 67.4% net-long of EURUSD, a bearish contrarian bias. However daily and weekly changes suggest give us a stronger bearish contrarian trading 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 the Euro – 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